ADVANCE AUTO PARTS 3654 RIDGE RD. SINGLE TENANT NNN LEASE
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ADVANCE AUTO PARTS
SINGLE TENANT NNN LEASE
3654 RIDGE RD.
LANSING, IL 60438 FOR SALE
This opportunity presents an investor
a chance to acquire a single tenant net
lease with a strong national tenant.
The property is developed with
a 11,298 sq.ft. masonry building
completely remodeled and leased
on a net basis to Advance Auto Parts.
Landlord installed new roof with
15 year Firestone manufacturer’s
warranty in 2013. Tenant now assumes
responsibility for roof maintenance.
The 28,346 sq.ft. lot has 190+/- feet
frontage on Ridge Ave. with 34
parking places.
The property is located in Lansing,
IL., a large south suburb of Chicago.
Lansing is located on the state line
of Illinois and Indiana adjoining
Munster, IN. The area is within a short
driving distance and just south of
the I-94 Expressway. Ridge Ave is the
commercially developed east/west
street and provides easy access to
downtown Lansing and Munster to the
east.
PROPERTY HIGHLIGHTS
» National Investment Grade Tenant
BUILDING SF 11,298 CAP RATE 6.75% (S&P: BBB-)
» Original 15 Year Lease Expiring
LOT SF 28,346 NET OPERATING INCOME $121,275 on 4/30/2020
» 3-5 Year Options with 5% Rent
ASKING PRICE $1,796,000 Increases in Option Periods
» Free-Standing Building with new
roof with 15 year warranty
» Surrounded by many National
STATISTICS 1 MILE 2 MILE 3 MILE Tenants including Walgreens,
Aldi’s, Baker’s Square & a
Population 14,976 52,534 95,879 Strack&VanTil Grocery Center
» Densely Populated South Suburb
Households 6,018 20,046 36,584 of Chicago, Just off 1-94
Expressway
Average HHI $65,356 $62,937 $64,157 » Perfect for 1031 Exchange Buyer
ESTHER BERMAN Senior VP, Investment Sales MARK JONES, CCIM Senior VP, Investment Sales
(P) 847.274.9444 eberman@jameson.com (O) 312.335.3229 mjones@jameson.com
jamesoncommercial.com
©Jameson Real Estate LLC. All information provided herein is from sources deemed
reliable. Norepresentationismadeastotheaccuracythereof&itissubmittedsubjectto
errors,omissions,changes,priorsaleorlease,orwithdrawalwithoutnotice. Projections,
opinions,assumptions&estimatesarepresentedasexamplesonly&maynotrepresent
actual performance. Consult tax & legal advisors to perform your own investigation.
ADVANCE AUTO PARTS - SINGLE TENANT NNN LEASE
3654 RIDGE RD.
LANSING, IL 60438
PROPERTY PHOTO
ESTHER BERMAN Senior VP, Investment Sales MARK JONES, CCIM Senior VP, Investment Sales
(P) 847.274.9444 eberman@jameson.com (O) 312.335.3229 mjones@jameson.com
jamesoncommercial.com
©Jameson Real Estate LLC. All information provided herein is from sources deemed
reliable. Norepresentationismadeastotheaccuracythereof&itissubmittedsubjectto
errors,omissions,changes,priorsaleorlease,orwithdrawalwithoutnotice. Projections,
opinions,assumptions&estimatesarepresentedasexamplesonly&maynotrepresent
actual performance. Consult tax & legal advisors to perform your own investigation.
ADVANCE AUTO PARTS - SINGLE TENANT NNN LEASE
3654 RIDGE RD.
LANSING, IL 60438
FINANCIALS
Financial/ Rent Roll
3654 Ridge Rd. Lansing, IL
Advance Stores Company
Tenant Incorporated
Lease Commencement 4/21/2005
Lease Expiration 4/30/2020
Options 3- 5 yr
Rent Monthly Annual
Years 1-10 $9,583.00 $114,996.00
Years 11-15 $10,106.25 $121,275.00
1st Option $10,611.50 $127,338.00
2nd Option $11,142.08 $133,704.96
3rd Option $11,699.17 $140,390.04
Tenant responsible for all real estate taxes, insurance and maintenance and repair
of premises including roof, excepting slab, foundation and structure.
2012 real estate taxes= $72,466.51 ($6.41PSF)
Investment to be based on Scheduled Net Rent in Year 11 of the Lease ($121,275). Seller to credit
Buyer any rent difference out of escrow at closing.
Net Operating Income $121,275.00
Cap Rate
Asking Price $1,796,000 6.75%
ESTHER BERMAN Senior VP, Investment Sales MARK JONES, CCIM Senior VP, Investment Sales
(P) 847.274.9444 eberman@jameson.com (O) 312.335.3229 mjones@jameson.com
jamesoncommercial.com
©Jameson Real Estate LLC. All information provided herein is from sources deemed
reliable. Norepresentationismadeastotheaccuracythereof&itissubmittedsubjectto
errors,omissions,changes,priorsaleorlease,orwithdrawalwithoutnotice. Projections,
opinions,assumptions&estimatesarepresentedasexamplesonly&maynotrepresent
actual performance. Consult tax & legal advisors to perform your own investigation.
ADVANCE AUTO PARTS - SINGLE TENANT NNN LEASE
3654 RIDGE RD.
LANSING, IL 60438
AERIAL TENANT MAP
SITE
ESTHER BERMAN Senior VP, Investment Sales MARK JONES, CCIM Senior VP, Investment Sales
(P) 847.274.9444 eberman@jameson.com (O) 312.335.3229 mjones@jameson.com
jamesoncommercial.com
©Jameson Real Estate LLC. All information provided herein is from sources deemed
reliable. Norepresentationismadeastotheaccuracythereof&itissubmittedsubjectto
errors,omissions,changes,priorsaleorlease,orwithdrawalwithoutnotice. Projections,
opinions,assumptions&estimatesarepresentedasexamplesonly&maynotrepresent
actual performance. Consult tax & legal advisors to perform your own investigation.
ADVANCE AUTO PARTS - SINGLE TENANT NNN LEASE
3654 RIDGE RD.
LANSING, IL 60438
MAP
SITE
ESTHER BERMAN Senior VP, Investment Sales MARK JONES, CCIM Senior VP, Investment Sales
(P) 847.274.9444 eberman@jameson.com (O) 312.335.3229 mjones@jameson.com
jamesoncommercial.com
©Jameson Real Estate LLC. All information provided herein is from sources deemed
reliable. Norepresentationismadeastotheaccuracythereof&itissubmittedsubjectto
errors,omissions,changes,priorsaleorlease,orwithdrawalwithoutnotice. Projections,
opinions,assumptions&estimatesarepresentedasexamplesonly&maynotrepresent
actual performance. Consult tax & legal advisors to perform your own investigation.ADVANCE AUTO PARTS - SINGLE TENANT NNN LEASE
3654 RIDGE RD.
LANSING, IL 60438
SURVEY
ESTHER BERMAN Senior VP, Investment Sales MARK JONES, CCIM Senior VP, Investment Sales
(P) 847.274.9444 eberman@jameson.com (O) 312.335.3229 mjones@jameson.com
jamesoncommercial.com
©Jameson Real Estate LLC. All information provided herein is from sources deemed
reliable. Norepresentationismadeastotheaccuracythereof&itissubmittedsubjectto
errors,omissions,changes,priorsaleorlease,orwithdrawalwithoutnotice. Projections,
opinions,assumptions&estimatesarepresentedasexamplesonly&maynotrepresent
actual performance. Consult tax & legal advisors to perform your own investigation.ADVANCE AUTO PARTS - SINGLE TENANT NNN LEASE
3654 RIDGE RD.
LANSING, IL 60438
DEMOGRAPHICS
1 MILE RADIUS 2 MILE RADIUS 3 MILE RADIUS
POPULATION // 2011
TOTAL POPULATION // 14,976 TOTAL POPULATION // 52,534 TOTAL POPULATION // 95,879
MEDIAN AGE // 40.0 MEDIAN AGE // 38.2 MEDIAN AGE // 38.5
INCOME // 2011
MEDIAN HH INCOME // $53,441 MEDIAN HH INCOME // $51,610 MEDIAN HH INCOME // $51,052
PER CAPITA INCOME // $25,955 PER CAPITA INCOME // $24,156 PER CAPITA INCOME // $24,588
AVERAGE HH INCOME // $65,356 AVERAGE HH INCOME // $62,937 AVERAGE HH INCOME // $64,157
HOUSEHOLDS // 2011
TOTAL HOUSEHOLDS // 6,018 TOTAL HOUSEHOLDS // 20,046 TOTAL HOUSEHOLDS // 36,584
AVERAGE HOUSEHOLD SIZE // 2.48 AVERAGE HOUSEHOLD SIZE // 2.60 AVERAGE HOUSEHOLD SIZE // 2.60
HOUSING // 2011
OWNER OCCUPIED HOUSING UNITS // 4,744 OWNER OCCUPIED HOUSING UNITS // 14,884 OWNER OCCUPIED HOUSING UNITS // 26,932
RENTER OCCUPIED HOUSING UNITS // 1,274 RENTER OCCUPIED HOUSING UNITS // 5,162 RENTER OCCUPIED HOUSING UNITS // 9,652
ESTHER BERMAN Senior VP, Investment Sales MARK JONES, CCIM Senior VP, Investment Sales
(P) 847.274.9444 eberman@jameson.com (O) 312.335.3229 mjones@jameson.com
jamesoncommercial.com
©Jameson Real Estate LLC. All information provided herein is from sources deemed
reliable. Norepresentationismadeastotheaccuracythereof&itissubmittedsubjectto
errors,omissions,changes,priorsaleorlease,orwithdrawalwithoutnotice. Projections,
opinions,assumptions&estimatesarepresentedasexamplesonly&maynotrepresent
actual performance. Consult tax & legal advisors to perform your own investigation.ADVANCE AUTO PARTS - SINGLE TENANT NNN LEASE
3654 RIDGE RD.
LANSING, IL 60438
TENANT OVERVIEW
ESTHER BERMAN Senior VP, Investment Sales MARK JONES, CCIM Senior VP, Investment Sales
(P) 847.274.9444 eberman@jameson.com (O) 312.335.3229 mjones@jameson.com
jamesoncommercial.com
©Jameson Real Estate LLC. All information provided herein is from sources
deemed reliable. No representation is made as to the accuracy thereof &
it is submitted subject to errors, omissions, changes, prior sale or lease, or
withdrawal without notice. Projections, opinions, assumptions & estimates are
presented as examples only & may not represent actual performance. ConsultADVANCE AUTO PARTS - SINGLE TENANT NNN LEASE
3654 RIDGE RD.
LANSING, IL 60438
TENANT OVERVIEW
Press Release
Advance Auto Parts to Acquire General Parts International, Inc. in All-Cash Transaction
with Enterprise Value of $2.04 Billion
Creates the largest automotive aftermarket parts provider in North America with combined sales of over $9.2 billion
Expected to generate annual synergies of $160 million within three years of closing
Estimated to deliver significant FY14 Cash EPS(1) accretion of more than 20% excluding one-time costs to achieve
synergies and an increase in the low teens including one-time costs to achieve synergies
Expected to maintain investment grade ratings given strong combined financial profile
ROANOKE, Va.--(BUSINESS WIRE)--Oct. 16, 2013-- Advance Auto Parts, Inc. (NYSE: AAP), a leading provider of
automotive aftermarket parts, accessories, batteries, and maintenance items, announced today that it has entered
into a definitive agreement to acquire General Parts International, Inc. (GPII), a leading privately held distributor and
supplier of original equipment and aftermarket replacement products for commercial markets operating under the
CARQUEST and WORLDPAC brands, in an all-cash transaction with an enterprise value of $2.04 billion. The transaction
has been approved by the boards of directors of both companies.
The transaction creates the largest automotive aftermarket parts provider in North America, with annual sales of
over $9.2 billion and more than 70,000 Team Members. The strong combined financial profile allows for an all-cash
transaction and supports Advance’s commitment to maintain its investment grade rating. The acquisition of GPII will
accelerate Advance’s growth strategy and enhance shareholder value through the following strategic benefits:
Creates Market Leader – (1) #1 automotive aftermarket parts provider in North America with a balanced platform for
growth between Do-It-yourself (DIY) and Commercial, (2) #1 distributor of import automotive parts and (3) the
largest automotive aftermarket business-to-business e-commerce platform in North America.
Delivers Scale – Provides Advance with complete coast-to-coast coverage across North America, creating a company
with scale, reach and expanded growth opportunities benefiting shareholders, customers and team members. This
presence in new markets allows Advance the ability to expand its geographic footprint in an efficient manner.
Accelerates Complementary Market Opportunities – Expands Advance’s product and category offerings in both core
and new product lines (i.e. paint and heavy duty), creates new sales channel with independent customers and
broadens ability to grow with attractive customer segments such as larger bay garages, import specialists, national
accounts and fleet and government programs.
Strengthens Leading Brands and Capabilities – Enhances Advance’s ability to serve customers through the transfer of
CARQUEST’s commercial capabilities and Team Member parts knowledge into Advance stores while expanding DIY into
select company operated CARQUEST stores. The combination expands key capabilities in customer service through
enhanced daily replenishment and customer loyalty programs to a larger truck fleet and a significantly expanded
commercial sales team.
ESTHER BERMAN Senior VP, Investment Sales MARK JONES, CCIM Senior VP, Investment Sales
(P) 847.274.9444 eberman@jameson.com (O) 312.335.3229 mjones@jameson.com
jamesoncommercial.com
©Jameson Real Estate LLC. All information provided herein is from sources
deemed reliable. No representation is made as to the accuracy thereof &
it is submitted subject to errors, omissions, changes, prior sale or lease, or
withdrawal without notice. Projections, opinions, assumptions & estimates are
presented as examples only & may not represent actual performance. ConsultYou can also read
