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- LoopNet Team
1414 1st St W
Independence, IA 50644
Advance Auto Parts · Retail Property For Sale
PROPERTY FACTS
AMENITIES
- Dedicated Turn Lane
- Pylon Sign
ABOUT 1414 1ST ST W , INDEPENDENCE, IA 50644
Independence is located on the north side of US Highway 20 approximately 25 miles to the east of Cedar Falls/Waterloo, IA. and has a Population of over 6000. Independence is the county seat of Buchanan County, Iowa. The Advance Auto Parts store is located on 1st Street (County Road D22) the primary commercial corridor and major east/west thoroughfare in Independence. Advance Auto Parts is rated “BBB- /Stable” by S&P with $9.4 Billion in revenue and a net income of $460 Million as of December 31, 2016. The property contains 31,428 sq. ft. or 0,72 acres. The store, built in 1999, has great visibility and is located at the corner of 1st Street and 15th Avenue NW with excellent ingress and egress off each street. The lease is a modified triple net (NNN), guaranteed by Advance auto Parts, Inc., with all maintenance and repair the responsibility of the tenant. The foundation, structure and roof are landlord’s responsibility. There are 7.25 years remaining on the lease with 2 – 5 year options with 10% increases. Advance Auto has a pylon sign at the corner of 1st Street and 15th Ave. NW.
PROPERTY TAXES
| Parcel Number | 06.33.454.017 | Improvements Assessment | $388,330 |
| Land Assessment | $93,080 | Total Assessment | $481,410 |
PROPERTY TAXES
