10 Putnam Pike Johnston, RI 02919

This property offers the opportunity to acquire the fee simple interest in a NN leased, corporate signed, Advance Auto Parts investment property in Johnston, Rhode Island, within the Providence MSA. The tenant, Advance Stores Company, Inc., has recently extended their lease through December 2036, with options for three additional 5-year extensions. The lease includes a 5% rental increase in July 2031, and 10% rental increases at the beginning of each option period. The lease is guaranteed by the corporate entity (S&P: BBB) and is NN with landlord responsibilities limited to roof and structure. Advance Auto Parts operates 5,750 stores and 266 Worldpac branches in the United States, Canada, Puerto Rico and the U.S. Virgin Islands. The property is located near the signalized intersection of Putnam Pike and George Waterman Rd, which sees a combined traffic volume of 36,000 vehicles per day. It benefits from access to Interstate 295, a major thoroughfare with over 70,000 vehicles per day. Situated in a dense retail corridor, nearby national tenants include Walgreens, CVS Pharmacy, Dollar Tree, Dunkin Donuts, Burger King, and McDonald’s. The property is also located near North Providence High School (1,107 students) and Our Lady of Fatima Hospital (100 beds). The 5-mile trade area is supported by over 275,000 residents and 149,000 employees. The property size is 5,920 square feet. Residents within a 3-mile radius have an average household income of $92,875.