Sell Your Advance Auto Parts Property
Considering selling your Advance Auto Parts property? NNN Realty specializes in net lease investment sales nationwide, including auto parts properties. Learn how buyers evaluate Advance Auto Parts leases after the company’s recent store closures and credit downgrade, what affects your property’s value, and what to expect throughout the selling process.
The Advance Auto Parts Market at a Glance
Short Answer
The value of an Advance Auto Parts property depends mostly on the remaining lease term, the rent and any increases still ahead, and whether the lease is NN or NNN, since a large share of these leases leave the roof and structure with the landlord. Because Advance is rated below investment grade and closed hundreds of stores in early 2025, buyers also weigh how your store performs and how important it is to the local network. Recent sales of comparable Advance Auto Parts properties help set a realistic asking price.
- Typical cap rate
- 7% to 8.5%
- Typical sale price
- $950K to $1.25M
- Typical term left at sale
- 5 to 10 years
- Typical lease type
- NN or NNN
Approximate ranges from NNN Realty’s tracking of Advance Auto Parts listings and reported sales, with data as of September 30, 2026. They are a starting point, not an appraisal or a quote of current pricing: your property’s value depends on its lease, location and condition.
How to Sell Your Advance Auto Parts Property
Selling an Advance Auto Parts property starts with a clear read of the lease, the store’s place in Advance’s current network, and what buyers are paying for this credit today. Our process is built to help owners set realistic pricing, reach the right investors, and manage the sale from valuation through closing.
Property Review & Valuation
We start with the lease: years remaining, renewal options, rent and scheduled increases, and whether the lease is NN or NNN, including who pays for the roof, structure and parking lot. We then look at the store itself, including its trade area, nearby competitors and any available performance information, alongside comparable Advance Auto Parts sales. The result is a realistic market value and a recommended asking price.
Market Positioning & Buyer Targeting
We prepare professional photography, drone imagery where useful, and an offering memorandum that explains the lease, the landlord’s responsibilities, and the store’s position in its market. We then market the property nationally and contact buyers who regularly acquire auto parts properties, including 1031 exchange investors, private investors and funds that are comfortable with below investment grade credit when the term and real estate support it.
Offers, Buyer Qualification & Negotiations
When offers arrive, we compare more than price. We review each buyer’s net lease experience, financing or proof of funds, proposed due diligence and closing timelines, and any conditions tied to the tenant’s credit or store performance. We help negotiate a non-binding Letter of Intent (LOI) that sets the key terms before both sides move to a formal Purchase and Sale Agreement (PSA).
Due Diligence & Closing
After the Purchase and Sale Agreement is signed, the buyer usually has a negotiated due diligence period, often about 30–45 days. The buyer reviews the lease, title, survey, property condition and environmental reports, and on an NN lease will look closely at the roof, structure and parking lot. During this period the buyer may be able to terminate and recover the earnest money deposit.
We coordinate document delivery, site visits, and communication with the buyer, attorneys, title company and lender, and we request the tenant estoppel from Advance. Under many purchase agreements the deposit becomes nonrefundable once due diligence ends, subject to contractual exceptions. Closing often follows 15–30 days later, though timelines vary from one transaction to the next.
What Is My Advance Auto Parts Property Worth?
The value of an Advance Auto Parts property is mainly determined by its net operating income (NOI) and the capitalization rate (cap rate) buyers will accept. Not every Advance Auto Parts property trades at the same cap rate. Remaining term, NN versus NNN responsibilities, rent increases, and how buyers view the individual store after the 2025 closures can move pricing significantly.
How Cap Rates Affect Your Property’s Value
A cap rate represents the relationship between a property’s annual net operating income and its purchase price. Generally, a lower cap rate results in a higher property value, while a higher cap rate results in a lower value.
Example: $87,000 annual NOI at 7.75% cap rate = approximately $1,122,581 estimated property value.
Property Value = Annual NOI ÷ Cap Rate
Cap rate calculator
Estimated property value
Illustrative calculation only. Actual sale prices depend on property characteristics and market conditions.
Factors That Influence Advance Auto Parts Property Values
Remaining Lease Term & Renewal Outlook
Term is the single biggest driver for Advance properties, and many older leases are already in their renewal options with only a few years left. With limited term, buyers focus on whether the store is likely to renew and price in the risk that it does not.
NN or NNN Responsibilities
Advance leases are split between NN and NNN structures, so who pays for the roof, structure and parking lot directly affects net income. A clean NNN lease, or an NN lease with a recently replaced roof, usually draws stronger offers.
Store Performance & Network Role
After the company closed hundreds of stores in early 2025, buyers want evidence that a store is one Advance intends to keep, such as a strong trade area or a role serving nearby stores. Any available performance information helps answer that question.
Rent Increases & Options
Flat rent combined with a short remaining term pushes cap rates up quickly. Increases still ahead in the base term or the option periods help support value.
Tenant Credit & Lease Guarantee
Advance is rated below investment grade, so buyers typically ask for a higher return than on AutoZone or O’Reilly leases. Confirm whether Advance Auto Parts, Inc. or an operating subsidiary signed or guarantees your lease, since buyers will price that entity.
Advance Auto Parts as a Tenant
Advance Auto Parts sells replacement parts, batteries and accessories to do-it-yourself customers and professional installers through its Advance Auto Parts and Carquest stores. Leases are typically signed by Advance Auto Parts, Inc. or its operating subsidiary, Advance Stores Company, Incorporated, and some carry a parent guarantee. Because the signer and guarantee differ from lease to lease, confirm both from your own lease documents.
As of July 18, 2026, Advance operated 4,311 stores, primarily in the United States, and served 786 independently owned Carquest stores. Under a restructuring plan approved in November 2024, it closed approximately 500 stores and 200 independent locations during the first quarter of 2025, and in August 2026 it lowered its 2026 opening plan to 30–35 new stores. S&P Global Ratings lowered the company to BB from BB+ in July 2025, so buyers look closely at each store’s performance and remaining term.
- Parent company
- Advance Auto Parts, Inc. (NYSE: AAP)
- Stores
- 4,311 as of July 18, 2026, plus 786 independently owned Carquest stores served
- Credit rating
- BB from S&P Global Ratings (lowered from BB+ in July 2025)
- Common lease terms
- Often 10 to 15 years on newer stores with renewal options; leases are split between NN and NNN, and many older leases are in option periods. Confirm landlord duties in your lease.
- Typical building
- About 6,000 to 7,000 square feet on about 1 acre
What Is Your Advance Auto Parts Property Worth?
Considering selling your Advance Auto Parts property? NNN Realty can help you understand its current market value through a review of your lease structure and remaining term, recent comparable sales, and current buyer demand for Advance Auto Parts properties.
Whether you plan to sell soon or want to understand your options first, we can give you an informed, confidential assessment of your investment.
NNN Realty is not affiliated with Advance Auto Parts, Inc.. Market ranges are approximate, based on listings and sales tracked through September 30, 2026, and the calculator is illustrative. Nothing here is tax, legal or investment advice.