advance auto parts & horizon insurance | philadelphia, ms · 2017-06-06 · advance auto parts...
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Advance Auto Parts & Horizon Insurance | Philadelphia, MSOffering Memorandum
ANDREW FALLONEXECUTIVE MANAGING DIRECTOR
(703) 787-4733 [email protected]
Actual Site
EXCLUSIVE LISTINGOffering Memorandum
BROKER OF RECORDJONATHAN W HIPPMS LIC #21034
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C A L K A I N .C O MC A L K A I N .C O M
Advance Auto Parts & Horizon Insurance | Philadelphia, MS
Advance Auto Parts & Horizon Insurance | Philadelphia, MSOffering Memorandum
200 S Lewis Avenue | Philadelphia, MS 39350
Asking Price $1,322,850 | Cap Rate 8.00%
Net Operating Income (NOI) $105,828
Base Rent/Month $8,819
Avg Rent/SF $9.62
Advance Auto Parts SF 7,000+/- SF
Horizon Insurance SF 4,000+/- SF
Total Rentable Square Feet 11,000+/- SF
Land Area 1.21+/- Acres
Tenant Name/sAdvance Auto Parts &
Horizon Insurance
Advance Auto Parts Stock Symbol NYSE: AAP
Credit Rating AAP S&P: BBB-
Guarantor Corporate
Ownership Type Fee Simple
Lease Type NN
Landlord Responsibilities Roof & Structure
Tenant ResponsibilitiesReimbursement of Operating
Expenses: RET, CAM, Insurance
Year Built 2003
Investment Highlights • Advance Auto is an investment grade credit tenant, S&P: (BBB-);
responsible for 66% of income
• Strong historic sales – contact broker for details
• 28.84% rent increase in 2025; Advance next option term
• Hard corner signalized intersection
• Surrounded by other national retailers including Walmart, Walgreens,
O’Reilly Auto Parts, Wendy’s and more
• Main street location with combined traffic counts of 20,140 VPD
Operating Expense Reimbursement 2017Property Taxes $20,297
Insurance $3,330
CAM $5,435
Total Operating Expenses ($29,062)
Reimbursement From Tenants $29,062
NOI $105,828
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Financial Summary
Advance Auto Parts & Horizon Insurance | Philadelphia, MSOffering Memorandum
Tenancy Schedule
Tenant Annual Rent Rent/Month SF Rent/SF Guarantor Lease Term Rent Commencement
Lease Expiration Increases Options
Advance Auto Parts $69,828 $5,819 7,000+/- $9.98 Corporate 7.5+ Years 9/5/03 12/31/24
1st Option: $90,999 (28.84% Bump)
2nd Option: $94,500 (3.85% Bump)
Two (2), Five (5)
Year
Horizon Insurance $36,000 $3,000 4,000+/- $9.00 Corporate 3+ Years 7/1/15 6/30/20 N/A N/A
NOI $105,828 $8,819 11,000+/-
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Financial Summary
Advance Auto Parts & Horizon Insurance | Philadelphia, MSOffering Memorandum
About Advance Auto PartsAdvance Auto Parts is the leading automotive aftermarket parts provider in North America, serving “do-it-for-me”, or Commercial, and “do-it-yourself”, or DIY, customers as well as independently-owned operators. They were founded in 1929 and is headquarters in Roanoke, Virginia.
Advance Auto Parts, Inc. is a leading automotive aftermarket parts provider that serves both professional installer and do-it-yourself customers. As of December 31, 2016, Advance operated 5,062 stores and 127 Worldpac branches and employed 74,000 Team Members in the United States, Canada, Puerto Rico and the U.S. Virgin Islands. The company also serves approximately 1,250 independently owned Carquest branded stores across these locations in addition to Mexico and the Bahamas, Turks and Caicos, British Virgin Islands and Pacific Islands.
As of 2016 Advance Auto Parts sales are approximately $9.57 billion.
Actual site Actual site
About Horizon Insurance Group (Moore’s Financial Group)Moore’s Financial Group (MFG) is an independent marketing organization satisfying a full range of personal insurance needs, including home & auto life & health, medicare, employee benefits, business insurance and other financial services.
Founded in 2008 by Rod Moore & Wendy Moore of Olive Branch MS, Moore’s Financial Group has continuously provided years of steady service to its clients. A service-building relationship with clients is the foundation of which their business was built upon.
Moore’s Financial Group represents over 50 A-Rated, financially sound, reputable insurance companies.
Actual Site - Grand Opening
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Tenant Overview
Advance Auto Parts & Horizon Insurance | Philadelphia, MSOffering Memorandum
Site Photos
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200 S Lewis Ave | Philadelphia, MS 39350
Advance Auto Parts & Horizon Insurance | Philadelphia, MSOffering Memorandum
Jackson, MS80 miles away
Philadelphia, MS
Pensacola, FL
Atlanta, GA
Biloxi, MSBaton Rouge, LA
Birmingham, AL
New Orleans, LA
Subject Site
180 miles away
200 miles away
Little Rock, AR300 miles away
290 miles away
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200 S Lewis Ave | Philadelphia, MS 39350
Advance Auto Parts & Horizon Insurance | Philadelphia, MSOffering Memorandum
N Lewis Ave 4,930 VPDJefferson Village
Apartments
Williamstown Middle School
Philadelphia Electronics Subject Site
W Beacon Street 15,210 VPD
S Lewis Ave 3,322 VPD
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200 S Lewis Ave | Philadelphia, MS 39350
Advance Auto Parts & Horizon Insurance | Philadelphia, MSOffering Memorandum
Subject Site
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S Lewis Ave 3,322 VPD15
Canal Place Cinema 7
15,862
VPD
W Beacon Street 15,210 VPD
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Advance Auto Parts & Horizon Insurance | Philadelphia, MSOffering Memorandum
Site Plan
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Advance Auto Parts & Horizon Insurance | Philadelphia, MSOffering Memorandum
Philadelphia, MSPhiladelphia is a city in and the county seat of Neshoba County, Mississippi.
Philadelphia is incorporated as a municipality; it was given its current name in 1903, two years before the railroad brought new opportunities and prosperity to the town. The history of the town and its influences- social, political and economic- can be seen in the many points of interest within and beyond the city limits. These range from the large ceremonial Indian mound and cave at Nanih Waiya, built approximately 1700 years ago and sacred to the Choctaw; to the still thriving Williams Brothers Store, a true old-fashioned general store founded in 1907 and featured in National Geographic in 1939 as a source of anything from “needles to horse collars”, and still offering everything from bridles, butter and boots to flour, feed and fashion.
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Market Overview
Advance Auto Parts & Horizon Insurance | Philadelphia, MSOffering Memorandum
Radius 3 Mile 5 Miles 10 MilesPopulation2016 Population 8,426 11,197 22,674
2021 Population 8,338 11,116 22,581
2016 Male Population 46.0% 46.7% 47.8%
2016 Female Population 54.0% 53.3% 52.2%
2016 Median Age 36.2 36.6 35.7
Households2016 Total Households 3,333 4,401 8,259
2021 Total Households 3,303 4,377 8,249
2016 Average Household Size 2.46 2.49 2.71
Median Household Income2016 Median Household Income $31,215 $32,622 $35,125
2021 Median Household Income $33,666 $35,612 $38,619
2016-2021 Annual Rate 1.52% 1.77% 1.91%
Average Household Income2016 Average Household Income $48,289 $49,484 $50,648
2021 Average Household Income $53,128 $54,536 $55,803
2016-2021 Annual Rate 1.93% 1.96% 1.96%
Per Capita Income2016 Per Capita Income $19,323 $19,443 $18,760
2021 Per Capita Income $21,243 $21,430 $20,700
2016-2021 Annual Rate 1.91% 1.97% 1.99%
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Demographics
Advance Auto Parts & Horizon Insurance | Philadelphia, MSOffering Memorandum
ANDREW FALLONEXECUTIVE MANAGING DIRECTOR
(703) 787-4733 [email protected]
Who Are We? We are a national commercial real estate firm that provides consulting and brokerage services to both private and institutional clientele with an expertise on triple net lease investments. We pride ourselves on being a world class leader by providing our clients a full array of commercial real estate investment brokerage and asset management solutions, including advisory, research, estate planning and wealth management.
We have built solid relationships throughout our decades of experience and innovation, implementing long-term allocation within the context of each client’s particular risk tolerance and identifying how best to acquire and dispose of income producing properties for each entities’ specific set of investment criterion. At Calkain, our foresight and past performance are leading the net lease investment industry.
Our HistoryLike most success stories, Calkain was formulated from humble beginnings. Jonathan W. Hipp, President and CEO, took the initiative to build upon his decades of experience and performance and left a large international brokerage firm to become an independent and innovative leader within the triple net lease investment community. Armed with a sole employee and a single office, the firm has grown exponentially since its infancy in 2005.
With the growth in staff, seasoned professionals have been attracted to Calkain’s model of innovation, entrepreneurship and the fostering of long-lasting and meaningful relationships. Industry experts have joined Calkain in the hopes of implementing the skills they have honed in complementary aspects of real estate investment.
Through a tremendous endeavor, tireless hours have been committed to continually prove that Calkain is America’s Net Lease Company®. Its countless accolades received from the world’s leading business publications, including Forbes™, Fortune™ and the New York Times™ have confirmed that Calkain is a true leader in triple net lease investing services.
Client Testimonial
“USRA has worked with Calkain on numerous occasions. They have always been meticulous in their work ethic, providing superior service and extremely prompt attention to our needs. I highly recommend them.
- Jack Genende, Partner | U.S. Realty Advisors, LLC. (USRA)
$11.5 Billion in Closed Transactions
$350 Million
in Active Listings
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C A L K A I N .C O MC A L K A I N .C O M
About Calkain
DISCLAIMER: The information contained in this document is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Calkain and its subsidiaries, and should not be made available to any other person or entity without the written consent of Calkain. This document has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property(s). The information contained herein is not a substitute for a thorough due diligence investigation. Calkain and its subsidiaries have not made any investigation, and make no warranty or representation, with respect to the income or expenses for the subject property(s), the future projected financial performance of the property, the size and square footage of the property(s) and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regula-tions, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property(s). The information contained in this document has been obtained from sources we believe to be reliable; however neither Calkain and its subsidiaries nor the Seller have verified, and will not verify, any of the information contained herein, nor has Calkain and its subsidiaries or the Seller conducted any investigation regarding these matters and make no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
Corporate Headquarters Washington, DC12930 Worldgate Drive | Suite 150 Herndon, VA 20170 T: (703) 787-4714 • F: (703) 787-4783
Tampa400 N. Tampa Street | Suite 2660 Tampa, FL 33602 T: (813) 282-6000 • F: (813) 282-6098
South Florida200 SW 1st Avenue | Suite 880 Fort Lauderdale, FL 33301 T: (954) 302-7365
Atlanta111 Village Parkway, Building 2 | Suite 202 Marietta, GA 30067 T: (404) 900-5629
Boston101 Federal Street | Suite 1900 Boston, MA 02110 T: (617) 261-8584
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