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Advance Auto Parts | Corp NNN 2230 Fort St 6,157 SF Retail Building Lincoln Park, MI 48146 $1,723,000 ($279.84/SF) 7.75% Cap Rate
Investment Highlights
- Corporate Guaranteed (NYSE:AAP) | Long Term Occupancy
- Detroit Retail Corridor | Excellent Visibility on Fort St. (36K+ VPD)
- NNN | Fee Simple Ownership | Limited Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area | Detroit MSA
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN, corporate guaranteed (NYSE: AAP) Advance Auto Parts investment property located in Lincoln Park, MI (Detroit MSA). The tenant, Advance Auto Parts, Inc., has over 7-years remaining on its lease with
3 (5-year) options to extend. The lease features 7% rental increases at the beginning of each option period, providing a hedge against inflation. The lease is NNN with minimal landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. Advance Auto Parts is a leading automotive parts provider with over 4,300 stores. The tenant has successfully operated at the location for more than 17-years.
3 (5-year) options to extend. The lease features 7% rental increases at the beginning of each option period, providing a hedge against inflation. The lease is NNN with minimal landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. Advance Auto Parts is a leading automotive parts provider with over 4,300 stores. The tenant has successfully operated at the location for more than 17-years.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
6,157 SF
Building Class
C
Year Built
2010
Price
$1,723,000
Price Per SF
$279.84
Cap Rate
7.75%
NOI
$133,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.15
Lot Size
0.95 AC
Zoning
CM - Commercial Mixed Use
Parking
28 Spaces (4.55 Spaces per 1,000 SF Leased)
Frontage
130’ on Fort
Amenities
- Corner Lot
- Dedicated Turn Lane
- Signage
- Monument Signage
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
-
99,999 SF
- -
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Lorem Ipsum
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Jan 0000
Advance Auto Parts began in 1932 and grew into an automotive aftermarket parts provider serving professional installers and do-it-yourself customers. The company offers parts, accessories, and related shopping support through retail stores, Carquest-branded independent locations, and digital channels that support maintenance, repair, and performance needs. Advance Auto Parts maintains a broad North American market presence, with stores primarily in the United States and additional locations in Canada, Puerto Rico, and the U.S. Virgin Islands.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 45-009-03-0207-301 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $448,900 |
Property Taxes
Parcel Number
45-009-03-0207-301
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$448,900
Contacts
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Michael Carter -
Frank Rogers -
Matthew Mousavi -
Patrick Luther -
SRS Real Estate Partners
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