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Napa Auto Parts | 6.4% Cap Rate

7227 Covington Hwy
Lithonia, GA 30058
PRICE : $2,160,000
PROPERTY TYPE: Retail
SITE SIZE: 7.15 Acres
BUILDING SIZE: 9,378 SF
YEAR BUILT: 1996

Highlights

  • Strong Atlanta based wholesale/retail auto parts retailer with over 16K NAPA Auto Parts locations nationwide
  • 6.4% CAP NNN lease with no landlord responsibilities
  • 7.5% rent increases every five years with four 5 year renewal options
  • 7+ years remain on initial lease term
  • First rent increase begins March 2019
  • Rent/SF is less than $15
  • Recent remodeling of interior retail sales area to new store prototype
  • Located on signalized corner on oversized 7+ acre parcel
  • Corporate guaranteed by NYSE traded Genuine Parts Company (GPC)
  • Atlanta MSA location in DeKalb County close to I-20
  • One of 3 metro Atlanta locations with machine shops
  • Three mile population of over 56K

Description

Bull Realty is pleased to offer FOR SALE this absolute NNN corporate guaranteed NAPA Auto Parts location in Lithonia (Atlanta MSA), GA. NAPA is owned by Atlanta based Genuine Parts Company and has over 17,000 locations in the US and abroad. This retail location is on a signalized 4-lane intersection with easy access to I-20. This is a busy daytime crossroads for the mix of residential and commercial travelers with over 56K residents in a three-mile area.

The recently renovated retail portion of the store reflects NAPA’s initiative to “grow” the retail side of their business along with the already robust wholesale business, whereby they provide OEM parts to national tire retailers, auto repair shops and auto dealers. This facility is also one of 3 metro Atlanta NAPA locations that offers a machine shop for specialized engine repairs.

This NNN lease has almost 7 years remaining with four 5 year options. There is a 7.5% increase in rent every 5 years. The property is located on an oversized 7+ acre parcel of land that is zoned M (Industrial).

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