Advance Auto Parts NNN Properties
Absolute NNN · BB+ / Ba1 credit · 6–7.5% cap rate · $1.4M–$3.0M
Why Investors Buy Advance Auto Parts NNN Properties
Advance Auto Parts is one of the nation's largest auto parts retailers, with 4,800+ locations delivering essential vehicle maintenance and repair products to a growing DIY and DIFM customer base. As the average vehicle age in the US continues to rise, auto parts demand becomes increasingly recession-proof. Absolute NNN leases with corporate guarantees and high cap rates make AAP a strong income investment.
Lease Structure
Brand Financials
Why Investors Choose Advance Auto Parts
- Corporate guarantee from a $11B+ revenue national auto parts chain
- Rising average vehicle age in the US creates permanent tailwind for auto parts demand
- Absolute NNN — zero landlord obligations for the full lease term
- Higher cap rates (6.0–7.5%) than pharmacy and QSR peers
- Essential-use profile: car maintenance is non-discretionary spending
- Accessible price points ($1.4M–$3M) ideal for 1031 exchange investors
Key Risks to Underwrite
- Credit is below investment-grade — reflects recent operational challenges
- E-commerce competition from Amazon and RockAuto pressures retail volumes
- Must review store performance and remaining lease term carefully
Ideal Investor Profile
- Yield-focused investors seeking higher cap rates with a national corporate guarantee
- 1031 exchange buyers with $1.4M–$3M in exchange equity
- Investors diversifying into essential auto services retail
Is Advance Auto Parts Right for Your 1031 Exchange?
Advance Auto Parts NNN properties are a popular 1031 exchange destination for investors who want to eliminate active management while preserving their equity in a nationally recognized corporate-guaranteed asset. With typical prices of $1.4M–$3.0M, these properties fit a wide range of exchange equity positions. The Absolute NNN structure means your 1031 replacement property comes with zero landlord obligations — ideal for investors who have sold multifamily, commercial, or other management-intensive assets and want truly passive income.
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Access Off-Market Advance Auto Parts Properties
We maintain an exclusive inventory of Advance Auto Parts NNN properties — many of which never appear on LoopNet or CoStar. Contact us to see what's available before it trades.