For Sale
$553,000

1209 Main StRock Hill, SC 29730

High-yield NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a fee-simple ownership of a 12,208 square foot, single-story retail building in Rock Hill, South Carolina. The property is currently 100% occupied by Advance Auto Parts, a publicly traded company (NYSE: AAP) under an absolute triple-net (NNN) lease with a corporate guarantee. The lease boasts a remaining term of 9.6 years, extending to June 30, 2034, with six five-year renewal options. The tenant has a long operating history at this location, recently signing a 10-year extension, demonstrating their commitment. The property features a low rent, resulting in a healthy rent-to-sales ratio, and offers zero landlord responsibilities. Situated on a 0.73-acre lot at 1209 E Main St, Rock Hill, SC 29730, the property benefits from high visibility and traffic counts, located near major roadways including I-77. The surrounding area includes a significant concentration of retail and industrial space, creating strong synergies with neighboring businesses. The asking price is $553,000, representing a 6.25% cap rate and a price per square foot of $45.30. The property's strong tenant, long lease term, and favorable location make it an attractive investment opportunity. Built in 1985, this Class A property offers a stable income stream with significant upside potential. The Net Operating Income (NOI) is $34,550.

Highlights

  • Strong credit tenant, Advance Auto Parts (NYSE: AAP), with $3.9B market cap and $11.28B annual revenue, provides corporate guaranty.
  • Long-term tenant (nearly 15 years) recently signed a 10-year lease extension.
  • Absolute NNN lease with six five-year options; zero landlord responsibilities; below-market rent.
  • Located in a high-traffic commercial node with over 1.3 MSF of retail and industrial space within one mile.
  • Excellent access via E. Main St (27.4K VPD) and Albright Rd (18.3K VPD), close to I-77 (76.4K VPD) and downtown Rock Hill; over 2.5K homes within one mile.

Property Details for 1209 Main St

Property type
Retail properties, Retail space
Square Feet
12,208 SF
Class
A
Year Built
1985
Buildings
1
Stories
1
Lot Size (sq. ft)
31,799 SF

Location Insight

City
Rock Hill
County
York
State
South Carolina
Latitude
34.9164515
Longitude
-81.0053799
1209 Main St, Rock Hill, South Carolina

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1209 Main St
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