This statement with the informaon it contains is given with the understanding that all negoaons relang to the purchase, renng or leasing of the property described above shall be conducted through this office. The above informaon, while not guaranteed, has been secured from sources we believe to be reliable. Exclusively Marketed by SITUS RETAIL GROUP www.situsretail.com NNN Single Tenant Retail Investment For Sale Taylor DeBry [email protected]801.838.9628 Hunter Todd [email protected]801.838.9630 OFFERING MEMORANDUM Advance Auto Parts (Tenant) | 1585 North Main Street | Logan, Utah
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NNN Single Tenant Retail Investment For Saleimages2.loopnet.com/d2/bRLwVw5oTJtIVIanc99YS0k9dA3CPkkhl... · 2018-04-16 · No high school diploma High school graduate Some college
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This statement with the information it contains is given with the understanding that all negotiations relating to the purchase, renting or leasing of the property described above shall be conducted through this office. The above information, while not guaranteed, has been secured from sources we believe to be reliable.
Exclusively Marketed by SITUS RETAIL GROUPwww.situsretail.com
OFFERING MEMORANDUMAdvance Auto Parts (Tenant) | 1585 North Main Street | Logan, Utah
Advance Auto Parts (Tenant)Logan, UT
This statement with the information it contains is given with the understanding that all negotiations relating to the purchase, renting or leasing of the property described above shall be conducted through this office. The above information, while not guaranteed, has been secured from sources we believe to be reliable.
Exclusively Marketed by SITUS RETAIL GROUPwww.situsretail.com
Property Address: 1585 North Main St | Logan, UT 84341Total Parcel Size: 0.99 AcresBuilding Size: 9,510 SFLease Expiration: Tenant: Advance Auto Parts
Rent Schedule: 15 Year Primary Term (NNN) Years 1-15: $100,000/Year ($8,333.33/month) Three 5-Year Options (5% Increases Every 5 Years) Years 16-20: $105,000/Year ($8,750.00/month) Years 21-25: $110,250 ($9,187.50/month) Years 26-30: $115,762.50 ($9,646.88/month)
Sale Price: $1,740,000NOI: $100,000Cap Rate: 5.75%
Landlord Responsibilities: Landlord shall be responsible for the maintenance, repair and/or replacements to the plumbing (under slab and leased premises, excluding inside of building), slab, foundation and structure.
Tenant Responsibilities: Tenant shall be responsible to maintain, repair and replace the entire leased premises except for any items of which are the Landlord’s responsibility as described above.
Executive Summary
15 YearsPrimary LeaseExpires 2032
Advance Auto Parts (Tenant)Logan, UT
This statement with the information it contains is given with the understanding that all negotiations relating to the purchase, renting or leasing of the property described above shall be conducted through this office. The above information, while not guaranteed, has been secured from sources we believe to be reliable.
Exclusively Marketed by SITUS RETAIL GROUPwww.situsretail.com
Advance Auto Parts, Inc., through its subsidiaries, operates as a specialty retailer of automotive replacement parts, accesso-ries, batteries, and maintenance items. It operates stores that offer brand name, original equipment manufacturer, and pri-vate label automotive products, including alternators, batteries, belts and hoses, brakes and brake pads, chassis parts, climate control parts, clutches, driveshafts, engines and engine parts, ignition parts, lighting, radiators, starters, spark plugs and wires, steering and alignment parts, transmissions, water pumps, and windshield wiper blades; accessories, such as air fresheners, automotive paint, anti-theft devices, emergency road kits, floor mats, ice scrapers, mirrors, seat and steering wheel covers, and vent shades; chemicals comprising antifreeze, brake and power steering fluid, car washes and waxes, freon, fuel additives, and windshield washer fluid; and oils, transmission fluids, and other automotive petroleum products for domestic and import-ed cars, vans, sport utility vehicles, and light and heavy duty trucks. The company also provides battery and wiper installation, battery charging, check engine light reading, electrical system testing, video clinics, loaner tool programs, and oil and battery recycling services, as well as loaner tool programs. In addition, it sells products online. The company serves do-it-yourself, do-it-for-me, or commercial customers in the northeastern, Mid-Atlantic, and southeastern regions of the United States. As of De-cember 31, 2016, it operated 5,189 stores in the United States, Canada, Puerto Rico, and the U.S. Virgin Islands. The company was founded in 1929 and is headquartered in Roanoke, Virginia.
Tenant Profile
5,189Stores
74,000Employees
$9.57BAnnual
Revenue
BBB-S&P Credit
Rating
Advance Auto Parts (Tenant)Logan, UT
This statement with the information it contains is given with the understanding that all negotiations relating to the purchase, renting or leasing of the property described above shall be conducted through this office. The above information, while not guaranteed, has been secured from sources we believe to be reliable.
Exclusively Marketed by SITUS RETAIL GROUPwww.situsretail.com
Major Tenant Aerial
Supercenter
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Wellsville Wellsville
RiverHeights
Providence
NorthLogan
Amalga
Smithfield
Logan
Nibley
Millville
HydePark
SITE
28,118Current Utah StateUniversity Student
Enrollment
Utah State University
Advance Auto Parts (Tenant)Logan, UT
This statement with the information it contains is given with the understanding that all negotiations relating to the purchase, renting or leasing of the property described above shall be conducted through this office. The above information, while not guaranteed, has been secured from sources we believe to be reliable.
Exclusively Marketed by SITUS RETAIL GROUPwww.situsretail.com
Aerial Photo
SITE
32,000Current Average
Daily Traffic
Advance Auto Parts (Tenant)Logan, UT
This statement with the information it contains is given with the understanding that all negotiations relating to the purchase, renting or leasing of the property described above shall be conducted through this office. The above information, while not guaranteed, has been secured from sources we believe to be reliable.
Exclusively Marketed by SITUS RETAIL GROUPwww.situsretail.com
Aerial Zoom
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Advance Auto Parts (Tenant)Logan, UT
This statement with the information it contains is given with the understanding that all negotiations relating to the purchase, renting or leasing of the property described above shall be conducted through this office. The above information, while not guaranteed, has been secured from sources we believe to be reliable.
Exclusively Marketed by SITUS RETAIL GROUPwww.situsretail.com
Site Plan
FULLACCESS
+/-124’
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+/- 9,510 SF
37 EXISTING PARKING STALLSWITHIN PROPERTY
BOUNDARY
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1600 North
Advance Auto Parts (Tenant)Logan, UT
This statement with the information it contains is given with the understanding that all negotiations relating to the purchase, renting or leasing of the property described above shall be conducted through this office. The above information, while not guaranteed, has been secured from sources we believe to be reliable.
Exclusively Marketed by SITUS RETAIL GROUPwww.situsretail.com
Drone Photos
MAIN ST 1600 NORTH
Advance Auto Parts (Tenant)Logan, UT
This statement with the information it contains is given with the understanding that all negotiations relating to the purchase, renting or leasing of the property described above shall be conducted through this office. The above information, while not guaranteed, has been secured from sources we believe to be reliable.
Exclusively Marketed by SITUS RETAIL GROUPwww.situsretail.com
Photos
April 2017Store Opening
Advance Auto Parts (Tenant)Logan, UT
This statement with the information it contains is given with the understanding that all negotiations relating to the purchase, renting or leasing of the property described above shall be conducted through this office. The above information, while not guaranteed, has been secured from sources we believe to be reliable.
Exclusively Marketed by SITUS RETAIL GROUPwww.situsretail.com
This statement with the information it contains is given with the understanding that all negotiations relating to the purchase, renting or leasing of the property described above shall be conducted through this office. The above information, while not guaranteed, has been secured from sources we believe to be reliable.
Exclusively Marketed by SITUS RETAIL GROUPwww.situsretail.com
Cache County Economic Snapshot
Cache County State of Utah United States
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
-5%
0%
5%
Recession
ECONOMIC SNAPSHOTCache County MARCH 2017** Cache County State of Utah United States
2.2% 3.1% 1.5%
How's the economy?
Cache County continued expanding its employment base, despite a large setback from one employer in the financeindustry. The construction sector took the lead this quarter, driving employment growth. Unemployment remainsabout as low as it can get, and taxable sales were up 10.4 percent with particular strength in retail markets.Average wage growth ticked up, as it did statewide, and the overall economic outlook remains strong.
JobsCache County employment held steady at 2.2 percent in March after growing 2.1 percent year-over in December 2017. Despitesomewhat lethargic growth, the county still added 1,258 jobs since March 2016.
The primary drag on growth was the finance/insurance/real estate sector which shed nearly 400 jobs over the last year. Inparticular, activities related to credit intermediation, which includes payday lenders, lost over 300 jobs.
Fortunately, the construction sector picked up the slack adding almost 500 new jobs, primarily in new single-family homeconstruction, since March 2016.
Financial ActivitiesProfessional and Business Services
Educational, Health and Social Servic..Leisure and Hospitality
Other ServicesGovernment
Covered Ag/Forestry/Fishing/Hunting*
$3,950
$3,820
$3,310
$3,130
$2,380
2009 Q1 2011 Q1 2013 Q1 2015 Q1 2017 Q1
$2,500
$3,000
$3,500
Recession
Four-Quarter Moving Average
Average Monthly Wage* FIRST QUARTER 2017
Cache County's unemployment rate remains the lowest in the state at 2.8 percent, falling even more from last month's 3.0 percent.
Initial unemployment claims are very low this year and are part of the influencing factor in determining a county's unemploymentrate.
Wage growth jumped considerably across the whole state in Q1 2017. Cache County average wages climbed to 5.9 percent yearover growth after slowing to a near standstill in Q4 2016. This pattern was seen broadly across most private sector industries andis likely attributable to businesses shifting bonus pay, and other distributions from Q4 2016 to Q1 2017 with the expectation of m..
Unemployment & Wages
*Preliminary. Source: U.S. Bureau of Labor Statistics and Utah Dept of Workforce Services.
Cache County State of Utah United States
2015 2016 2017
Utah Department of Workforce Services AREA PARAMETERCache County