NAPA Auto Parts NNN
2150 E Thomas Rd Phoenix, AZ 85016
New
For Sale
$2,613,333
Leased to Genuine Parts Company across nine properties with extended terms commencing November 1, 2027.
Property Size9,024 SF
Price / SF$289.60
Days on Market5
Property Features for 2150 E Thomas Rd
General Information
Standard status
Active
Size
9,024 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 3:33AM
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 9-property NAPA Auto Parts portfolio leased to Genuine Parts Company (NYSE: GPC) and its subsidiary. The portfolio includes eight master-leased renewal properties plus one direct lease located 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, and include rent escalations in Year 4 of the renewal term. The ninth property 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 portfolio totals 56,976 SF and is structured to provide a current annual base rent of $938,088. The properties are located across New York, Virginia, Texas, Minnesota, Mississippi, South Carolina, Arizona, Georgia, and Florida.
The eight master-leased properties operate under an Absolute NNN Master Lease with absolute zero landlord responsibilities, and include rent escalations in Year 4 of the renewal term. The ninth property 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 portfolio totals 56,976 SF and is structured to provide a current annual base rent of $938,088. The properties are located across New York, Virginia, Texas, Minnesota, Mississippi, South Carolina, Arizona, Georgia, and Florida.
Key Highlights
- 9‑property NAPA Auto Parts portfolio leased to Genuine Parts Company (NYSE: GPC) and its subsidiary
- Total size: 56,976 SF across nine states, including eight master‑leased properties plus one direct lease in Palmetto, FL
- Current annual base rent of $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 | $162.4k | $18.00 |
| − Vacancy | −$16.7k | −$1.85 |
| EGI | $145.7k | $16.15 |
| − OpEx | −$43.7k | −$4.84 |
| NOI | $102.0k | $11.30 |
9,024 SF · lease $18.00/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.46M
$1.27M – $1.70M
NOI $101,991 @ 7.0% cap · market cap 3.90%
Second Best
Industrial
$810.9K
$709.6K – $946.1K
NOI $56,764 @ 7.0% cap · market cap 2.17%
Theoretical Best
Office A
$2.73M
$2.39M – $3.19M
NOI $191,341 @ 7.0% cap · market cap 7.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Williams Automotive — 2001 n 24th st, phoenix, az 85008
- European Automotive Machine LLC — 2102 N 24th St, Phoenix, AZ 85008
- C&A Mobile Auto Glass — 2030 E Oak St, Phoenix, AZ 85006
- J.J. Rios Auto Shop — 2055 N 16th St, Phoenix, AZ 85006
- Arellano Tire II — 2201 n 24th st, phoenix, az 85008
Frequently Asked Questions
What type of property is this?
Auto shop - Leased to Genuine Parts Company across nine properties with extended terms commencing November 1, 2027.
Where is this auto shop located?
The property is located at 2150 E Thomas Rd Phoenix, AZ.
What is the asking price?
The asking price for this property is $2,613,333.
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; Total size: 56,976 SF across nine states, including eight master‑leased properties plus one direct lease in Palmetto, FL; Current annual base rent of $938,088 ($16.47/SF average)
