NAPA Auto Parts NNN
1416 10th St E Palmetto, FL 34221
New
For Sale
$1,564,706
Nine NAPA Auto Parts properties are leased to Genuine Parts Company with extended terms running from 2027–2032.
Property Size6,000 SF
Price / SF$260.78
Days on Market5
Property Features for 1416 10th St E
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Auto Parts
Listing Agency:
Miami Office
(786) 522-7056
Listed By:
Alex Zylberglait · License #License(s): FL: BK3015211
(786) 522-7056
Source:
Marcusmillichap
Added: Jul 25
Changed: Jul 26
Last Checked: Jul 29 at 3:34AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Miami Office
Investment Insights
Based on property information with market context.
This offering is a nine-property NAPA Auto Parts NNN portfolio leased to Genuine Parts Company (NYSE: GPC) and its subsidiary. The portfolio totals 56,976 SF and includes eight master-leased renewal properties plus one direct lease property in Palmetto, FL. The tenant recently executed 5-year lease extensions across the portfolio, with all extended terms commencing November 1, 2027 and running through October 31, 2032.
The eight master-leased properties operate under an Absolute NNN Master Lease with absolute zero landlord responsibilities. The ninth property (Palmetto, FL) operates under a standard NNN lease, where ownership is responsible for the roof, exterior walls, structural supports, foundations, underground utility lines, and parking areas. The current annual base rent is $938,088, reflecting a $16.47/SF average, and the master leases include rent escalations in Year 4 of the renewal term.
The eight master-leased properties operate under an Absolute NNN Master Lease with absolute zero landlord responsibilities. The ninth property (Palmetto, FL) operates under a standard NNN lease, where ownership is responsible for the roof, exterior walls, structural supports, foundations, underground utility lines, and parking areas. The current annual base rent is $938,088, reflecting a $16.47/SF average, and the master leases include rent escalations in Year 4 of the renewal term.
Key Highlights
- 9‑property NAPA Auto Parts portfolio leased to Genuine Parts Company (NYSE: GPC) and its subsidiary
- Portfolio totals 56,976 SF across nine master‑leased renewal properties plus 1 direct lease in Palmetto, FL
- Current annual base rent is $938,088 ($16.47/SF average)
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $108.0k | $18.00 |
| − Vacancy | −$2.6k | −$0.43 |
| EGI | $105.4k | $17.57 |
| − OpEx | −$31.6k | −$5.27 |
| NOI | $73.8k | $12.30 |
6,000 SF · lease $18.00/SF/yr · vacancy 2.40% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.05M
$922.3K – $1.23M
NOI $73,786 @ 7.0% cap · market cap 4.72%
Second Best
Industrial
$721.1K
$631.0K – $841.3K
NOI $50,477 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$1.76M
$1.54M – $2.06M
NOI $123,509 @ 7.0% cap · market cap 7.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
NNN property - Nine NAPA Auto Parts properties are leased to Genuine Parts Company with extended terms running from 2027–2032.
Where is this nnn property located?
The property is located at 1416 10th St E Palmetto, FL.
What is the asking price?
The asking price for this property is $1,564,706.
What are key features of this property?
This property features: 9‑property NAPA Auto Parts portfolio leased to Genuine Parts Company (NYSE: GPC) and its subsidiary; Portfolio totals 56,976 SF across nine master‑leased renewal properties plus 1 direct lease in Palmetto, FL; Current annual base rent is $938,088 ($16.47/SF average)
