Current Use by Public Records
- Retail properties & Spaces
Property Details for 7951 31
- Lot size
- 0.71 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Auto shops
Description
This exceptional investment opportunity presents a 7,000 square foot Advance Auto Parts store located at 7951 U.S. 31 in Calera, Alabama. The property sits on a 0.71-acre lot and benefits from a strong location along a major thoroughfare connecting Birmingham and Montgomery, ensuring high visibility and substantial traffic. The current lease with Advance Auto Parts, a publicly traded company (NYSE: AAP) with an investment-grade credit rating (BBB-/Baa2) and over $11.3 billion in 2023 sales, has a remaining term of approximately 3.2 years. This NNN lease includes two five-year options with 5% rent bumps at each option exercise. The lease commenced on August 27, 2007, and is set to expire on January 31, 2028. The corporate guarantee provides significant security for investors. The property is conveniently located just 30 minutes from Birmingham, Alabama's second-largest city, boasting a population exceeding 195,000 residents. Advance Auto Parts, a leader in the automotive aftermarket parts industry, operates over 4,700 stores nationwide and has been in business since 1932, employing over 65,000 people. This presents a secure, recession-resistant investment in a vital sector, benefiting from the consistent demand for auto parts from both local shops and DIY mechanics. The asking price for this property is $1,518,494.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Calera
- County
- Shelby
- State
- Alabama
- Longitude
- -86.752
- Latitude
- 33.1073
