March 2, 2021 – Joe Desalvo, Bob Horvath and Hobart Hare of Horvath & Tremblay have successfully completed the sale of Advance Auto Parts in Laconia, New Hampshire. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete this transaction at a sale price of $1,575,000.
Advance Auto Parts is located at 163 Court Street in Laconia, New Hampshire. Advance Auto Parts has been operating at the Property for over 7 years and has 8 years remaining on their double-net lease. The lease includes three, 5-year renewal options with fixed rent increases of 10% at the start of each renewal option. The 6,895 square foot, stand-alone building was built in 2013. The property is extremely well-located, with excellent visibility and access along Court Street (US Route 3 Business) in Laconia’s downtown/business district. This highly visible location allows for convenient and direct access to the Lakes Region of New Hampshire, and to Interstate 93 via US Route 3, the area’s primary commercial corridor. The property is located in the heart of New Hampshire’s Lakes Region, one of New England’s most popular tourist destinations in the summer time, with the activity peaking during the annual Motorcycle Week and races at Loudon’s New Hampshire Motor Speedway. The retailers in the immediate area include, Rite Aid, CVS, Walgreens, AutoZone, Napa Auto Parts, Dunkin’, Cumberland Farms, Dollar Tree, Shaw’s, Planet Fitness, Big Lots, and numerous local restaurants and shops.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.