svn the kase group auto part... · bre#01385529 svn the kase group advance auto parts net leased...

Jacob Abusharkh

Managing [email protected] BRE#01385529

www.TheKaseGroup.com

SVN The Kase Group

Advance Auto Parts Net Leased Offering | Lawton, OK

$1,573,000 | 6.40% CAP

Offering Highlights

New 10+ Year Net Leased Offering

Rent Increases 5% at Each Option

Advance Auto Parts Corporate Guaranty - NYSE: AAP

S&P Rated BBB- Investment Grade Credit

Located on a Major Commercial Thoroughfare

Fortune 500 Company

Representative Photo

Advance Auto Parts Net Leased Offering


All Sperry Van Ness® Offices Independently Owned & OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for correctness.



SVN The Kase Group

The material contained in this Investment Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any other purpose. This information should not, under any circumstances, be photo-copied or disclosed to any third party without the written consent of Sperry Van Ness or Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property.

The only party authorized to represent the Property Owner (“Owner”) in connection with the sale of the Property is the Sper-ry Van Ness Advisor listed in this proposal, and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this Investment Of-fering Brochure. If the person receiving these materials does not choose to pursue a purchase of the Property, this Offering Bro-chure must be returned to Sperry Van Ness.

Neither the Sperry Van Ness Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and noth-ing contained herein is or shall be relied upon as a promise or representation as to the future performance of the Property. This Offering Brochure may include certain statements and estimates by Sperry Van Ness with respect to the projected future perfor-mance of the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, the Sperry Van Ness Advisor and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this Investment Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those repre-sentations and warranties that may be made to it in any final,

fully executed and delivered Real Estate Purchase Agreement between it and Owner.

The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the Sperry Van Ness Advisor, nor any of their officers, employees, representatives, independent contractors or af-filiates, for the accuracy or completeness thereof. Recipients of this Investment Offering Brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property.

This Investment Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expres-sions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Investment Offering Brochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms ac-ceptable to Owner, in Owner’s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowl-edged the foregoing and agreed to release the Owner and the Sperry Van Ness Advisor from any liability with respect thereto.

To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk.

Disclaimer | Confidentiality

Advance Auto Parts Net Leased OfferingSVN The Kase Group



CONTENTS

PROPERTY OVERVIEW

Executive Summary

Tenant Summary

FINANCIAL OVERVIEW

Financial Summary

LOCATION INFORMATION

Location Maps

Aerial Photo

DEMOGRAPHICS

Demographics Analysis

Demographics Map




PROPERTY OVERVIEW

Executive Summary

Tenant Summary

Investment OverviewSale Price: $1,573,000

CAP Rate: 6.40%

Lot Size: 0.64 Acres

Building Size: 7,000 SF

Market: Lawton, OK

Property InfoThe subject offering is a fee simple interest in a net leased Advance Auto Parts. It is a 20 year lease signed in 2005. The asset is located on a major commercial thoroughfare, surrounded by retailers including CVS Pharmacy, Burger King, McDonalds and Walgreens. There are three 5 year renewal options with a 5% rent increase at each option period. This is an ideal opportunity for a passive investor looking for a long-term stable investment with minimal landlord responsibilities.

Area InfoThe city of Lawton is the county seat of Comanche County, in the State of Oklahoma. Located in southwest-ern Oklahoma, about 87 miles southwest of Oklahoma City, it is the principal city of the Lawton, Oklahoma Metropolitan Statistical Area. According to the 2010 census, Lawton’s population was 96,867, making it the fifth-largest city in the state of Oklahoma. Recreation can be found at the city’s many parks, lakes, museums, and festivals. Notable residents of the city include many musical and literary artists, as well as several pro-fessional athletes.

1001 Southwest Lee Boulevard | Lawton, OK 73501

Executive Summary




Company InformationFounded: 1932

Locations: 4,000+

Revenue: $5.41 Billion (2009)

Employees: 55,000+

Website: www.advanceautoparts.com

Tenant HighlightsCorporate Guaranty - NYSE: AAP

S&P Rated BBB- Investment Grade Credit

Fortune 500 Company

Tenant Overview

Advance Auto Parts (NYSE: AAP), headquartered in Roanoke, Virginia, is the second-largest

retailer of automotive replacement parts and accessories in the United States. AAP was

founded in 1932 and had 2011 sales of approx. $6.1 Billion. AAP operates 3,540 stores in

40 US states and employs over 51,000 Team Members across all operations.

In 1929 the founders of the Pep Boys opened Advance Stores, LLC., with two stores in

Roanoke and one in Lynchburg, Virginia. On April 29, 1932, Arthur Taubman purchased

Advance Stores. He promptly closed the second store in Roanoke, which was located only

three blocks from the first.

The first major expansion of Advance Auto Parts was in 1998 when the company acquired

the remaining operations of Western Auto, an auto parts and general store retailer. Most

of the Western Auto operations had been taken over by Sears, Roebuck and Co. in 1987.

In April 2001, Advance Auto Parts acquired Carport Auto Parts, a regional retail chain with

29 stores in Alabama and Mississippi. On November 28, Advance acquired 671 Discount

Auto Parts, Inc., a regional auto parts chain in Florida, Alabama, Georgia, South Carolina,

and Louisiana. Upon completion of this merger, Advance Auto Parts became a publicly

traded company, listed as a common stock on the New York Stock Exchange under the

symbol AAP. The year ended with 2,484 stores in 38 states.

In July 2002, Advance Auto Parts received bankruptcy court approval to acquire 57 Trak

Auto Parts Stores in northern Virginia, Washington, DC, and eastern Maryland.

In 2005, Advance Auto Parts purchased Autopart International, Inc. which operated 202

stores along the Atlantic Seaboard.

Advance now operates over 3,500 locations in 40 states including Puerto Rico & the

Virgin Islands using the following branded names: Advance Auto Parts, Advance Discount

Auto Parts, and Western Auto (Puerto Rico & Virgin Islands).

Advance Auto Parts maintains a Standard & Poor’s BBB- investment grade credit rating.

Tenant Summary







FINANCIAL OVERVIEW

Financial Summary

1001 Southwest Lee Boulevard | Lawton, OK 73501 $1,573,000 | 6.40% CAP

CAP Rate: 6.40%

Building SF: 7,000

Lot Size: 0.64 AC

Lease Type: Net Leased

Type of Ownership: Fee Simple

Estimated Annualized Operating Data 2015-2025 Option 1 Option 2 Option 3

Net Operating Income $100,667 $116,270 $122,084 $128,188

CAP Rate 6.40% 7.39% 7.76% 8.15%

Tenant Name Unit Size Lease Begin Lease End Annual Rent Increases Options

Advance Auto Parts 7,000 SF 10/7/2005 12/31/2025 $100,667 Rent Tenant has

increases 5% three 5 year

at each options

option to renew

Financial Summary







LOCATION INFORMATION

Location Maps

Aerial Photo

Location Maps




2. LOCATION OVERVIEW

Location Maps

All Sperry Van Ness® Offices Independently Owned & Operated.

The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

www.TheKaseGroup.com9

Aerial Photo







DEMOGRAPHICS


Demographics Map





Total Population

Total Number of Households

Total Number of Persons per Household

Average House Value

Average Household Income

Median Age

Median Age - Male

Median Age - Female

Total Population - White

Total Percent - White

Total Population - Black

Total Percent - Black

Total Population - Asian

Total Percent - Asian

Total Population - Hawaiian

Total Percent - Hawaiian

Total Population - Indian

Total Percent - Indian

Total Population - Other

Total Percent - Other

Total Population - Hispanic

Total Percent - Hispanic

543 2,839 4,3177.4% 7.3% 5.5%

493 1,583 2,7576.7% 4.1% 3.5%

1001 SW Lee Boulevard | Lawton, OK 73501 For Sale | $1,548,723

* Demographic information provided by BuildOut, Inc.

3,290 16,195 30,172

2.2 2.4 2.6

$53,813 $86,711 $106,047

$29,399 $41,512 $46,334

33.9 32.2 31.631.8 32.1 31.1

35.4 32.4 32.4

13 436 1,5390.2% 1.1% 2.0%

1,612 7,353 17,16022.0% 18.9% 22.0%

62 178 3540.8% 0.5% 0.5%

4,234 23,159 45,54957.8% 59.6% 58.4%

7,321 38,850 77,938

1,164 4,669 9,13915.9% 12.0% 11.7%

1 Mile 3 Miles 5 Miles

4. DEMOGRAPHICS

Demographics Report




3530 N Governor Williams Hwy | Darlington, SC 29540

RADIUS MAP

5 miles 7 miles 10 miles

Total Population 6,523 16,087 36,656

Total Number of Households 2,375 6,051 13,934

Average Houeshold Income $54,646 $49,412 $46,526

Median Age 38.8 38.6 38.5

*Demographic information provided by BuildOut, LLC

* Demographic information provided by BuildOut, LLC

550 North Market Street | McArthur, OH 45651

Dollar General Net Leased Offering

Radius Map


5 Miles 7 Miles 10 Miles



Average Household Income $42,967 $42,934 $41,857

Median Age 37.5 37.8 37.4

6www.TheKaseGroup.comAll Sperry Van Ness® Offices Independently Owned & Operated.


Demographics Map




4. DEMOGRAPHICS

Demographics Map




* Demographic information provided by BuildOut, LLC

1001 SW Lee Boulevard | Lawton, OK 73501 Radius Map

1 Mile 3 Miles 5 Miles



Average Household Income $29,399 $41,512 $46,334

Median Age 33.9 32.2 31.6

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