Advance Auto Parts | 14 Years Remaining | Industry… — Sale in Exmore, VA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Exmore, VA 23350

Photos

Advance Auto Parts | 14 Years Remaining | Industry… — Sale in Exmore, VA, photo 1 of 2
Advance Auto Parts | 14 Years Remaining | Industry… — Sale in Exmore, VA, photo 2 of 2

Investment Figures

Cap rate
7.50%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

15-YEAR LEASE WITH 10% RENTAL INCREASES -The Tenant, Advance Stores Company, Inc, recently executed a brand new 15-year lease with three, five-year renewal options, of which 14 years remain. The lease features a 10 percent rental increase in year 11, and every five years thereafter throughout the option periods. STRATEGIC CORRIDOR WITH EXCELLENT VISIBILITY - The property consists of a 6,912-square-foot building situated upon approximately 0.82 acres. It boasts prominent frontage along Lankford Highway (U.S. Route 13) with 17,000 VPD, which is considered the primary artery of the Eastern Shore. This section of the highway serves as the sole north-south transit route for the region, capturing both local daily traffic and seasonal beach traffic. It is also significant for transient-traffic traveling between Virginia Beach/Norfolk and points north toward Maryland and Delaware. THE "DO-IT-YOURSELF" DEMOGRAPHIC - Given the rural and coastal geography of the Eastern Shore, residents typically rely on personal vehicles for long-distance commuting and daily logistics. This customer base is perfect for the tenant’s core business. Furthermore, the local workforce is heavily rooted in the agriculture, maritime, and trades sectors who possess a strong culture of self-reliance and mechanical aptitude. PROXIMITY TO MAJOR REGIONAL RETAILERS - The subject property is positioned within Exmore’s primary retail cluster, located near national high-traffic tenants such as Food Lion, Ace, Walgreens, and Family Dollar. Situated along the main commercial vein of the Delmarva Peninsula, the site captures a wide "trade area" of customers who travel from surrounding rural communities for essential goods. The next closest Advanced Auto Parts is 40+ miles away. The presence of nearby automotive-complementary businesses further solidifies this location as a destination for the local "Do-It-Yourself" consumer base. Industry Leader - Headquartered in Raleigh, North Carolina, Advance Auto Parts, Inc

Market Context

This retail in Exmore, VA is listed for sale. It is offered at an approximate 7.5% capitalization rate, a key benchmark for income-producing retail assets. Compare it against other retail listings for sale in Exmore, VA — view the full market.

Contact

Explore this market

Similar Retail Business for Sale in Exmore, VA