Advance Auto Parts NNN Investor Hub | Cap Rate Trends, Credit Rating Trends, Lease Terms & Due Diligence
Last Year Cap
6.4%
This Year Cap
7.0%
Cap Change
0.6%
Last Year Rating
BB+
This Year Rating
BBB-
Rating Change
Up
Advance Auto Parts – NNN Cap Rate Trend
Cap Rate Trends
| wdt_ID | wdt_created_by | wdt_created_at | wdt_last_edited_by | wdt_last_edited_at | Tenant | Year | Cap Rate |
|---|---|---|---|---|---|---|---|
| 5779 | admin2 | 2026 04:17 AM | admin2 | 2026 04:17 AM | 7 Brew | 2,020 | 6.5 |
| 5780 | admin2 | 2026 04:17 AM | admin2 | 2026 04:17 AM | 7 Brew | 2,021 | 6.3 |
| 5781 | admin2 | 2026 04:17 AM | admin2 | 2026 04:17 AM | 7 Brew | 2,022 | 6.0 |
| 5782 | admin2 | 2026 04:17 AM | admin2 | 2026 04:17 AM | 7 Brew | 2,023 | 6.3 |
| 5783 | admin2 | 2026 04:17 AM | admin2 | 2026 04:17 AM | 7 Brew | 2,024 | 6.6 |
| 5784 | admin2 | 2026 04:17 AM | admin2 | 2026 04:17 AM | 7 Brew | 2,025 | 6.6 |
| Tenant | Year | Cap Rate |
Credit (what net-lease buyers care about)
Credit Snapshot
Advance Auto Parts
Advance Auto Parts Net Lease: Secure, Essential Investment
Advance Auto Parts is a nationally recognized automotive aftermarket retailer and a commonly traded net lease tenant. This guide reviews cap rates, lease terms, tenant credit, and key due diligence considerations for buyers and sellers.
For 1031 exchange buyers, Advance Auto Parts ground lease properties are important to compare against fee simple Advance Auto Parts assets, as lease structure can materially impact pricing, financing, and long-term resale value.
Investors often target Advance Auto Parts assets for:
- Stable Income Potential
- Essential Automotive Retail Demand
- Established National Brand
- Attractive 1031 Exchange Compatibility
Advance Auto Parts ground lease properties require close comparison of rent escalations, remaining lease term, extension options, and residual land value versus fee simple ownership.
Advance Auto Parts Ground Lease Properties for 1031 Exchange Buyers
Advance Auto Parts ground lease properties often trade differently than fee simple Advance Auto Parts assets. Buyers should carefully evaluate lease structure, remaining term, renewal options, landlord responsibilities, and reversion rights to understand long-term risk and return.
Advance Auto Parts – Credit Trend (S&P vs Moody’s)
Tenant_Rating_Trend
| wdt_ID | wdt_created_by | wdt_created_at | wdt_last_edited_by | wdt_last_edited_at | TenantKey | Tenant | Year | Moody | SP | Moody_Grade | SP_Grade | Moody_GradeRank | SP_GradeRank |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | admin2 | 2025 03:43 PM | admin2 | 2025 03:43 PM | 7eleveninc | 7-Eleven, Inc. | 2022 | Baa2 | A | Lower Medium Grade | Upper Medium Grade | 5 | 6 |
| 2 | admin2 | 2025 03:43 PM | admin2 | 2025 03:43 PM | 7eleveninc | 7-Eleven, Inc. | 2023 | Baa2 | A | Lower Medium Grade | Upper Medium Grade | 5 | 6 |
| 3 | admin2 | 2025 03:43 PM | admin2 | 2025 03:43 PM | 7eleveninc | 7-Eleven, Inc. | 2024 | Baa2 | A | Lower Medium Grade | Upper Medium Grade | 5 | 6 |
| 4 | admin2 | 2025 03:43 PM | admin2 | 2025 03:43 PM | 7eleveninc | 7-Eleven, Inc. | 2025 | Baa2 | A | Lower Medium Grade | Upper Medium Grade | 5 | 6 |
| 5 | admin2 | 2025 03:43 PM | admin2 | 2025 03:43 PM | 99centsonlystoresllc | 99 Cents Only Stores, LLC | 2022 | Caa2 | CCC+ | Substantial Risk | Substantial Risk | 2 | 2 |
Advance Auto Parts Stock Price (NYSE:AAP)
Advance Auto Parts Investment Market Statistics
AVERAGE SALE PRICE
BUILDING SIZE
AVERAGE NOI
LAND
$/SF RANGE
LEASE TERM SHOWN
Advance Auto Parts Investor Snapshot (Quick Facts)
Origins & Growth (Past)
- Founded in 1932 as an automotive parts retailer in Virginia
- Expanded steadily through company-owned store growth and acquisitions
- Acquired regional auto parts chains to strengthen national footprint
- Built a strong presence in both DIY (retail) and professional installer markets
- Developed a nationwide distribution and supply chain network
- Enhanced commercial sales to serve repair shops and garages
- Became one of the largest automotive aftermarket parts providers in the U.S.
Where Advance Auto Parts Stands Today
- Extensive U.S. store network with additional international presence
- Leading player in the automotive aftermarket parts industry
- Strong demand driven by ongoing vehicle maintenance and aging car fleet
- Dual customer focus: DIY consumers and professional repair shops
- Established commercial (B2B) sales program supporting garages and service centers
- Ongoing supply chain and inventory optimization initiatives
- Focus on operational efficiency, cost control, and margin improvement
Where Advance Auto Parts Stands Today
- Expanded commercial (B2B) growth
- Supply chain optimization
- Digital and omnichannel expansion
- Stronger professional customer focus
- Store network optimization
- Inventory and availability improvements
- Resilient aftermarket demand
Why investors buy Advance Auto Parts NNN Properties or Advance Auto Parts ground Lease Properties?
Pros (what buyers like)
- Established national brand
One of the largest automotive aftermarket parts retailers with a long operating history and strong industry presence - Essential, needs-based retail
Auto parts demand is driven by ongoing vehicle maintenance and repairs, supporting consistent traffic across economic cycles - Diversified customer base
Serves both DIY consumers and professional repair shops, creating multiple revenue streams - Attractive lease structures
Long-term NNN leases are common; ground leases offer passive ownership with minimal landlord responsibilities - E-commerce + store integration
Stores function as fulfillment hubs for online and same-day pickup orders
Cons (what can bite you)
- Lease structure variability
Some properties may be NN or modified NNN, with landlord responsibility for roof, structure, or capital items - Tenant performance variability
Store performance can vary by market, competition, and proximity to other auto parts retailers - Moderate rent growth
Lease escalations are often fixed and may be limited, impacting long-term income growth - Re-tenanting considerations
Auto parts stores are somewhat specialized, though generally adaptable for other retail or service uses - Industry competition
Faces strong competition from players like AutoZone and O’Reilly Auto Parts
Investor Decision Framework (Buy / Hold / Sell)
✓ Strong “Buy Box” for an Advance Auto Parts Net Lease
• 10–15+ years lease term remaining (or 10+ with solid renewal options) • Absolute NNN or clean NNN lease structure • High-traffic retail corridor with strong visibility and easy access • Established store with proven sales history (strong DIY + commercial demand) • Rent is reasonable vs market (supports backfill and long-term resale value)
02
⚠ Yellow Flags (Price Accordingly)
• NN lease with roof, structure, or parking lot responsibilities on landlord • Flat rent with limited or no escalations during the primary lease term • Older or non-standard store format (smaller footprint or outdated layout) • Secondary location with lower traffic counts or limited visibility/access • Oversupply of nearby auto parts retailers increasing competition • Weak commercial (B2B) sales base impacting store performance
Find out more
Advance Auto Parts Background & History
Advance Auto Parts began as a regional auto parts retailer and grew into a major U.S. automotive aftermarket chain. It supplies replacement parts, accessories, and maintenance items for both individual customers and professional repair shops.
The company expanded through store growth and acquisitions, building a nationwide footprint. Today, it supports vehicle maintenance needs with a strong distribution network and consistent parts availability.
Why Advance Auto Parts Matters to NNN Investors
Advance Auto Parts operates thousands of locations focused on recurring, needs-based demand driven by vehicle maintenance. This creates steady traffic from both DIY customers and professional installers.
Its locations are typically positioned near retail corridors and auto service hubs, supporting consistent performance. Continued investment in supply chain and omnichannel capabilities strengthens store-level efficiency.
What Buyers and Sellers Should Evaluate
For Advance Auto Parts NNN or ground lease investments, value is driven by location quality, lease structure, and tenant performance rather than brand alone.
Buyers should evaluate lease terms, rent growth, site access, visibility, nearby competition, and proximity to repair shops. Long-term cash flow, re-tenanting potential, and overall market strength are also key considerations.
our team of experts are here for you
Our team helps investors evaluate NNN properties with practical, market-based guidance. In addition, we support buyers and sellers with lease review, pricing analysis, and due diligence strategy.
Whether you are comparing Advance Auto Parts ground lease properties or fee simple Advance Auto Parts assets, we can help you review the details that affect risk and long-term value. As a result, clients can make more confident decisions based on lease structure, location quality, and investment goals.
.