Absolute NNN Napa Auto Parts
Albany, NY 12205-5436
Napa Auto Parts Logo Image
1193 Central Ave
Albany, NY 12205-5436
  • Asking Price: $1,675,850
  • Cap Rate: 6.50%
  • Lease Type: NNN
  • Status: Under Contract
PROPERTY DETAILS:

Absolute NNN Lease - There are 6 years remaining with 4, 5-year options and 7.5% rent increases providing completely passive ownership for a buyer. • Corporate Tenant - Genuine Parts Company (NYSE: GPC) is publicly traded with sales of $16.3B and net income of $616M, providing excellent financial security. • Ideal Market Positioning - NAPA is situated in a dense auto dealership corridor, including 15 car dealerships within 2 miles, providing plenty of nearby consumers for the store. • Established Retail Corridor - Central Avenue (28,320 VPD) features top-tier national anchors including Whole Foods Market, Target, Lowe’s, Marshalls, BJ’s Wholesale Club, The Home Depot, Price Chopper, CVS, McDonald’s, and others. • Two Universities Nearby - The University at Albany and SUNY Poly are both located within 2 miles of the site and have a combined enrollment of approximately 20,000 students. • Solid Local Demographics - There are 93,000 residents with an average household income of $79,000 and 142,5000 daytime employees within 3 miles of the site.