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Views: 83 DOM: 93 Updated: 11.01.24 Posted: 09.19.24 Status: Active

Summary

Price $1,127,368
Built/Renov 2005
Tenant Advance Auto Parts
Cap Rate 6.65%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 7,000
Lease Start 08-01-2005
#Units 5,105
Price/SF $161.05
Expiration 12-31-2034
Tenant Type Automotive
NOI $74,970
R. Term 10.0
Ownership Fee Simple
Rent/SF $10.71
Increases 0.0%/0/yrs
Pop 5Mi 37,576
Lot/AC 0.83
Options 3/5yrs/21%
AHHI 5Mi $98,299

Lease Highlights

  • Advance Auto Parts has been operating in this location since 2005
  • The tenant has 10 years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features fluctuating rental increases at the start of each option period
  • Rare lease clause that provides sales reports to the landlord | Contact broker for details
  • Favorable NN+ lease with landlord responsible for structure only
  • Corporate guaranteed lease (NYSE: AAP)

Location Description

Advance Auto Parts is strategically located on N Detroit Street, with access to 22,600 vehicles passing by daily. The property is conveniently situated near US Highway 30, which sees over 30,000 VPD, ensuring excellent visibility and accessibility. The surrounding area features prominent national retailers such as Meijer, Lowe’s, Walmart, Menards, Starbucks, Buffalo Wild Wings, and more....

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Advance Auto Parts, Inc. (Advance) is an American automotive aftermarket parts provider that serves both professional installers and do-it-yourself (DIY) customers.  Advance is a publicly traded...


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Listing Broker

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