Investment Offering
Thornton, CO - Advance Auto Parts
12975 Quebec Street | Thornton, CO 80602
$3,158,000
Price5.2%
Cap Rate$164,227
NOI6,987
± SF Offering GLADescription
The SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NNN leased, freestanding, Advance Auto investment property located in Thornton, Colorado (Denver MSA). As a ground up build to suit development, Advance Auto recently signed a brand new 10- year lease with 3 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features 5% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NNN with landlord responsibilities limited to structure making it an ideal, low-management investment opportunity for a passive investor. Founded in 1932, Advance Auto Parts operates 5,750 stores and 266 Worldpac branches in the United States, Canada, Puerto Rico and the U.S. Virgin Islands.
Location
Advance Auto is strategically located near the signalized, hard corner intersection of East 128th Avenue and Quebec Street which carries over 26,000 vehicles per day. Furthermore, the asset is within close proximity to over 3,500 new or under construction residential units including Creekside Village (258 SFDU), Riverdale Park (252 SFDU), Willow Bend (539 SFDU) and Parterre (4,297 SFDU) providing a direct residential consumer base from which to draw. The site is anchored by a Walmart Supercenter and is less than 3 miles northeast of Mission Terrace North, a 222,000 SF community center that’s home to King Supers. 1 mile to the north a brand new King Soopers just opened, occupying 123,000 SF. Other nearby national/credit tenants include Kohls, Walgreens, Starbucks and McDonalds. The 5-mile subject trade area is supported by more than 167,000 residents and 32,000 daytime employees. Residents within a 1-mile radius boast an extremely affluent average household income of more than $144,036.
With over 140,000 people, Thornton is the 6th largest city in Colorado. Thornton plans to grow to approximately 250,000 people and is well-prepared for this future growth, having invested hundreds of millions of dollars in infrastructure in the city. Thornton has over 1,400 acres of greenfield sites ready for development and over $375 million in quality development recently opened or started along the I-25 corridor. It is easily accessible with eight interchanges along I-25, three (3) along E-470, and close proximity to I-70, US 36, and Denver International Airport (20 minutes). Thornton is located just 10 miles north of downtown Denver. Ongoing infrastructure improvement projects ensure the city is ready for further development now and in the future.
Documents & Links
| View | ||
|---|---|---|
 Offering Memorandum |  |  |