Looking to buy a NAPA Auto Parts NNN property? 14 are observed for sale across 10 states, median asking cap rate 6.75%. View NAPA Auto Parts NNN properties for sale, cap rate bands and the 1031 buyer guide.
| Metric | Details |
|---|---|
| Parent Company | Genuine Parts Company (GPC) |
| Credit Ratings | S&P: BBB- (Negative) / Moody’s: Baa1 (Negative) / Fitch: BBB- (Stable) |
| Investment Grade Status | Parent Rated Investment Grade (Genuine Parts Company); confirm the lease guarantor |
| Sector | Auto Parts Retail |
| North America Automotive Locations | 6,864 GPC North America Automotive locations (U.S. and Canada): 2,471 company-owned and 4,317 independently owned stores plus 76 distribution centers (as of December 31, 2025, Form 10-K) |
| Median asking cap rate | See the live table below |
| Lease Term | Varies; confirm in the lease |
| Guarantee Type | Varies: Genuine Parts Company or an independent owner’s entity; confirm the tenant and any guarantor in the lease |
| Stock Ticker | GPC (NYSE) |
| Annual Revenue | $24.3B net sales (FY2025, Form 10-K) |
Bond vs NNN Comparison: See how Genuine Parts (NAPA) corporate bond yields compare to Genuine Parts (NAPA) NNN cap rates, with after tax math, depreciation impact, and 1031 exchange treatment. Genuine Parts (NAPA) Bonds vs NNN →
NAPA Auto Parts Business Overview & NNN Investment Profile
NAPA Auto Parts is a brand of Genuine Parts Company, which describes itself as a leading global service provider of automotive and industrial replacement parts (Form 10-K for 2025). GPC’s North America Automotive segment serves customers through 6,864 locations in the U.S. and Canada, with about 35% company-owned and 65% independently owned stores (as of December 31, 2025, Form 10-K), and GPC names AutoZone, O’Reilly Auto Parts and Advance Auto Parts among its key North American competitors (Form 10-K for 2025). Genuine Parts Company’s long-term debt is rated BBB-/Baa1, and its investment grade status in our ratings database is investment grade.
The critical underwriting distinction for NAPA NNN investors is who signs and guarantees the lease. Where Genuine Parts Company is the tenant or a guarantor, the lease rests on the GPC credit rated BBB-/Baa1. About 65% of GPC’s North America Automotive stores are independently owned (Form 10-K for 2025); on those leases the tenant may be the independent owner’s company rather than GPC, so confirm the tenant and any guarantor in the lease. These structures can price differently and require distinct underwriting approaches.
NAPA / Genuine Parts Company Credit Rating Analysis
Source: S&P Global Ratings BBB-, Negative, as of December 31, 2025; Moody’s Baa1, Negative, as of December 31, 2025; Fitch Ratings BBB-, Stable, as of January 28, 2026. Ratings checked October 8, 2026.
GPC cites miles driven, a growing and aging vehicle fleet and rising vehicle complexity as growth drivers for the automotive aftermarket (Form 10-K for 2025). In 2025 about 74% of GPC’s revenues came from North America, 16% from Europe and 10% from Australasia (Form 10-K for 2025).
Investors should confirm whether a specific NAPA NNN property carries a direct GPC corporate guarantee or an independent operator guarantee. Investment-grade BBB-/Baa1 ratings apply only where Genuine Parts Company is the tenant or a guarantor of the lease.
NAPA Auto Parts NNN Lease Structure
Initial terms, expense responsibilities, rent escalations and building sizes vary across corporate-guaranteed NAPA leases; confirm each in the lease and property records. Most of GPC’s real estate leases include renewal options that can extend the term from one to 20 years or more (Form 10-K for 2025).
Independent operator leases require separate underwriting of the specific operator’s financial strength. Multi-store independent operators with demonstrated track records and clean balance sheets can represent quality investment opportunities despite the absence of GPC direct guarantee, but they can price at wider cap rates reflecting the different credit profile.
NAPA NNN Cap Rate & Pricing Trends
Live asking cap rates for NAPA Auto Parts and comparable tenants:
| Tenant | S&P / Moody’s | Median asking cap rate | Middle half of listings | Listings | Median vs. 10-year Treasury |
|---|---|---|---|---|---|
| AutoZone | BBB / Baa1 | 5.35% | 4.95% to 5.80% | 27 | +11 bps |
| O'Reilly Auto Parts | BBB / Baa1 | 6.00% | 5.60% to 6.38% | 27 | +76 bps |
| NAPA Auto Parts (rated entity: Genuine Parts Company) | BBB- / Baa1 | 6.75% | 6.00% to 7.50% | 12 | +151 bps |
Active listings InvestmentGrade.com tracks with an asking cap rate (stated in the listing, or computed from its stated income and price when no rate is stated), listings last observed October 16, 2026. Asking cap rates are not closed-sale cap rates. The middle half is the range from the 25th to the 75th percentile of listings. The 10-year Treasury yield is 5.24% as of October 1, 2026 (FRED series DGS10). Ratings are the agency ratings in our ratings database for the entity shown, which may be a parent company; the rating type (for example issuer, senior unsecured debt, long-term debt or revenue bond ratings) varies by company and is shown on each tenant page. A rating applies to a lease only if the rated entity signs or guarantees it, so confirm the tenant and any guarantor in the lease. n/a means no verified rating is on file.
NAPA Auto Parts Real Estate Footprint
As of December 31, 2025, GPC’s North America Automotive segment had 6,864 locations in the U.S. and Canada: 2,471 company-owned stores, 4,317 independently owned stores and 76 distribution centers (Form 10-K). Building size and site characteristics vary; confirm them for each property.
NAPA NNN Investment: Pros & Cons
| Pros | Cons |
|---|---|
| BBB-/Baa1 parent when GPC is direct guarantor | Many locations are independent operators, not GPC credit |
| GPC cites miles driven and a growing, aging vehicle fleet as aftermarket growth drivers (Form 10-K for 2025) | Must confirm guarantee entity before proceeding |
| Need-based demand for replacement parts | Fragmented ownership model creates varied quality |
| Competition from AutoZone, O’Reilly in same markets |
Comparable NNN Tenants
| Comparable Tenant | Rating |
|---|---|
| AutoZone | BBB/Baa1 |
| O’Reilly Auto Parts | BBB/Baa1 |
| Advance Auto Parts | BB |
What is NAPA Auto Parts’ credit rating?
NAPA Auto Parts is a Genuine Parts Company brand. GPC’s long-term debt is rated BBB- (Negative) by S&P and Baa1 (Negative) by Moody’s. That credit applies to NNN leases where GPC is the tenant or a guarantor. Independent NAPA store owners carry their own credit profiles.
What asking cap rates do NAPA NNN listings show?
Current median asking cap rates for NAPA Auto Parts and comparable tenants are shown in the live table on this page. Pricing for a specific property depends on the remaining lease term, rent level, location and lease guarantor, and asking cap rates are not closed-sale cap rates.
Is NAPA Auto Parts investment grade?
Genuine Parts Company’s long-term debt is rated BBB-/Baa1, and our ratings database classifies GPC as investment grade. Whether a specific NAPA NNN property benefits from that rating depends on whether GPC or an independent owner’s entity is the tenant or guarantor, so confirming the tenant and guarantor is the primary due diligence step.
NAPA Auto Parts Net Lease Property: Buying, Selling and Financing
Buying: We find on-market and off-market NAPA Auto Parts properties, review the lease and the tenant’s credit, and compare pricing with current listings. On the majority of transactions, there is no separate fee to you as the buyer; the listing broker pays a cooperating commission.
Selling: We can prepare an opinion of value from current listings and recent sales and, when it fits your goals, run a confidential sale to private investors, family offices and institutional buyers. See our guide to off-market sales.
Financing: Investment Grade Capital, a service of Investment Grade LLC, matches buyers and owners with lenders for acquisitions and refinancing.
1031 exchanges: Tell us your identification and closing deadlines so we can plan the search around them.
Request an NNN investment consultation or email team@investmentgrade.com.
Related NNN Tenants
NAPA Auto Parts NNN Properties Observed For Sale
14 active NAPA Auto Parts net lease listings observed across public listing sources, most recently Oct 16, 2026. Asking figures as published by the listing party.
| Location | Asking Price | Cap Rate | Building SF | Term Left | |
|---|---|---|---|---|---|
| Millville, NJ | $1,483,000 | 6.25% | 6,600 | n/a | View listing |
| Raceland, LA | $732,600 | 7.65% | 7,231 | 4.1 yrs | View listing |
| Kentwood, LA | $1,015,600 | 7.50% | 10,156 | 3.7 yrs | View listing |
| Slidell, LA | $1,316,500 | 7.25% | 11,931 | 5.7 yrs | View listing |
| Bogalusa, LA | $556,800 | 7.50% | 5,760 | 3.7 yrs | View listing |
| Delavan, WI | $1,717,350 | 6.00% | 6,120 | n/a | View listing |
| Kershaw, SC | $375,000 | n/a | 6,648 | n/a | View listing |
| Stuart, VA | $475,000 | 8.00% | 5,518 | n/a | View listing |
Search all 14 observed NAPA Auto Parts listings and the full NNN inventory
Market observations aggregated from listing broker materials; not offerings by Investment Grade Income Property, LP. Buyer representation available on a cooperating commission basis. Information deemed reliable but not guaranteed.
