Advance Auto Parts - Offering Memorandum - Orangeburg, South Carolina - Cypress Commercial & Investment Real ...
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Advance Auto Parts Orangeburg, South Carolina Offering Memorandum
Advance Auto Parts
cypresscommercial.com
TABLE OF CONTENTS:
PRESENTED BY:
Company Overview 3 James C. Harrison, III, CCIM
Senior Investment Broker
Disclaimer 3
803 834.7014 Ext. 5 (o)
Investment Overview | Property Highlights 4 803 331.8088 (c)
Lease Information 5 jharrison@cypresscommercial.com
Regional Map 6
ADDRESS:
Regional Map 7
Cypress Commercial & Investment Real Estate
Local Aerial 8
3101 Devine Street
Local Aerial 9 Columbia, SC 29205
Site Aerial 10
Okatie, South Carolina 11 cypresscommercial.com
Tenant Summary 12
Demographics 13
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Advance Auto Parts
Dollar General
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COMPANY OVERVIEW: DISCLAIMER:
Cypress Real Estate Partners, LLC d/b/a Cypress Commercial & Investment Real It is the prospective purchaser’s responsibility to conduct its own due diligence.
Estate is an investment real estate brokerage firm that exclusively represents The information contained in this brochure does not purport to be all-inclusive
buyers and sellers of single-tenant income producing properties and shopping or to contain all of the information that a prospective purchaser may desire.
centers in the Carolinas and southeastern United States. With over 80 years Additional information and an opportunity to inspect the property will be
of investment real estate experience, Cypress has emerged as one of the top made available to interested, qualified prospective purchasers. Owner and its
boutique investment real estate firms. Cypress’ brokerage team prides itself on representatives make no representation or warranty, express or implied, as to
delivering superior client service while offering the most current and advanced the accuracy or completeness of this information, and no legal commitments
marketing techniques in today’s marketplace. Cypress has sold over $1 billion in or obligations shall rise by reason of the contents herein. Cypress Real Estate
investment properties throughout the Carolinas and eastern half of the United Partners d/b/a Cypress Commercial & Investment Real Estate represents the
States, representing both buyers and sellers in both metropolitan and rural seller in this transaction.
marketplaces.
The owner expressly reserves the right, at its sole discretion, to reject
any or all expressions of interest by any entity at any time with or without
notice. The owner shall have no legal commitment or obligation to any
entity reviewing this information or making an offer to purchase subject
property unless and until a written agreement for the purchase of the
property has been fully executed, delivered and approved by the owner.
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Advance Auto Parts
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Investment Overview / Property Highlights
INVESTMENT HIGHLIGHTS:
• Advance Auto Extended Term Of Lease For Additional Four (4) Years
• Tenant Has Been Operating At This Location For Over 26 Years
• NN Lease With Corporate Guaranty By Advance Auto Parts, Inc.
• Advance Auto Has Over 5,000 Locations Throughout The United States
• S&P BBB- Investment Grade Credit
• High Traffic Commercial Corridor Near Downtown Orangeburg
• Hard Corner With Access To Traffic Signal Location
• Traffic Count: 18,200 (HWY 601, Station 233)
PROPERT Y HIGHLIGHTS:
Location: 994 John C. Calhoun Drive SE, Orangeburg, South Carolina 29115
Building: 7,000+/-SF Clear-Span Retail Building
Land Area: 0.61+/- Acres
Parking Spaces: 30+/- Spaces
Zoning: General Commercial Retail
Construction: 1992 construction; split face block construction, single door front entry, metal roof
Information: The Advance Auto parts store was built in 1992 on the corner of HWY 601 and Middleton Street. The property is located
approximately half a mile west of the center of the city near surrounding retailers to include SCBT, Walgreens, Bank of America,
Cook-Out, Wendy’s, McDonalds, Taco Bell, KFC, Hardee’s and many more.
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Advance Auto Parts
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Lease Information
SALES SUMMARY
Purchase Price $795,000
CAP Rate 8.3%
Price PSF $113
Representative Photo
LEASE INFORMATION
Tenant Advance Auto Parts, Inc.
Annual Rental $66,150
Original Rent Start Date December 7, 1992
New Lease Expiration Date December 31, 2022
Representative Photo
Original Lease Term Ten (10) Years
Renewal Options One (1) Five YR Option
Lease Type NN
Roof/Structure Landlord Responsibility
Tax & Insurance Fully reimbused by Tenant
HVAC/Parking Lot Tenant Pays Up To $500 - Split Cost Above $500 Representative Photo
PAGE 5
Advance Auto Parts
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Regional Map
Charlotte
Fayetteville
North Carolina
Greenville
South Carolina
Columbia
Athens
Orangeburg
Myrtle Beach
Augusta
Georgetown
Macon
Charleston
Georgia
Hilton Head Island
Savannah
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Advance Auto Parts
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Regional Map
Florence
Columbia Aynor
Myrtle Beach
Aiken
Orangeburg
Allendale Summerville
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Advance Auto Parts
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Local Aerial
To Columbia
To Charleston
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Advance Auto Parts
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Local Aerial
Orangeburg
County
Library
City of Orangeburg
Park & Recreation
Orangeburg County Courthouse
Claflin University
Downtown Orangeburg
SC State University
SUBJECT
Edisto Village
Shopping Center
Southern Methodist College
PAGE 9
Advance Auto Parts
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Site Aerial
Middleton Street
Meeting Street
Doyle Street
John C. Calhoun Drive 18,200 VPD
PAGE 10Advance Auto Parts
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Site Aerial
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PAGE 11Advance Auto Parts
Dollar General
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ORANGEBURG, SOUTH CAROLINA
Orangeburg is the principal city and county seat of Orangeburg County, South Carolina. The county itself is home to around 90,000 people and is found just off
of I-26 approximately 37 miles southeast of the state capital, Columbia. Many people claim Orangeburg is one of the halfway point between Columbia and Charleston.
Additionally, the city is home to 3 colleges and universities to include Claflin University (2,000 students), South Carolina State University (3,000 students), and Orangeburg
Calhoun Technical College (2,500 students).
PAGE 12Advance Auto Parts
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Tenant Summary
Founded in 1932 by Arthur Taubman and headquartered in Roanoke, Virginia, Advance Auto Parts,
Inc. is a leading automotive aftermarket parts providers that serves both professional installer
and do-it-yourself customers. As of December 30, 2017, Advance Auto operated 5,054 stores and
129 Worldpac branches and employed approximately 71,000 employees in the United States, Representative Photo
Canada, Puerto Rico and the US Virgin Islands. The company also serves approximately 1,218
independently owned Carquest branded stores across these locations in addition to Mexico,
Bahamas, Turks & Caicos, British Virgin Islands & Pacific Islands.
2017 FAST FAC TS:
• $9.37 Billion In Total Net Sales Representative Photo
• $601 Million In Operating Cash Flow
• BBB- Investment Grade Credit Rating According To S&P
• #272 On Listed Of Fortune 500 Companies
Representative Photo
PAGE 13Advance Auto Parts
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Demographics
POPULATION 1 mile 3 miles 5 miles
2022 Projection 5,402 24,465 36,036
2017 Estimate 5,607 25,203 37,014
2010 Census 6,051 26,437 38,399
2000 Census 5,727 26,277 37,479
Growth 2000-2010 0.55% 0.06% 0.24%
Growth 2010-2017 -1.05% 0.66% -0.51%
Growth 2017-2022 -0.74% 0.59% -0.53
HOUSEHOLDS
2017 Total Households 1,955 9,457 13,996
2022 Total Households 1,863 9,118 13,551
2000-2010 Annual Rate 0.16% 0.21% 0.57%
2010-2017 Annual Rate -1.21% -0.75% -0.59%
2017-2022 Annual Rate -0.96% -0.73% -0.64%
2017 Median Household Income $24,340 $28,331 $32,918
2017 Average Household Income $33,977 $43,165 $48,024
PAGE 14cypresscommercial.com
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