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Advance Auto Parts | Corp NNN 504 S Heaton St 7,864 SF Retail Building Knox, IN 46534 $1,355,000 ($172.30/SF) 8.25% Cap Rate
Investment Highlights
- Corporate Guaranteed (NYSE:AAP) | Long Term Occupancy
- Excellent Visibility on South Heaton St. (13,300 VPD) |Primary Commercial Corridor Ft. National Retail Tenants
- NNN | Fee Simple Ownership | Limited Landlord Responsibilities
- Direct Consumer Base | Centralized Midwest Location
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 Knox, IN. The tenant, Advance Auto Parts, Inc., has occupied the site for over 20-years and has 3 (5-year) options to extend. The lease features 5% 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.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
7,864 SF
Building Class
B
Year Built
2006
Price
$1,355,000
Price Per SF
$172.30
Cap Rate
8.25%
NOI
$111,767
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
1.00 AC
Zoning
C-2 - Commercial
Parking
37 Spaces (4.7 Spaces per 1,000 SF Leased)
Amenities
- Corner Lot
- Dedicated Turn Lane
- Pylon Sign
- Signage
Fairly walkable
40/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 75-06-23-301-114.000-004 | Improvements Assessment | $390,700 |
| Land Assessment | $170,800 | Total Assessment | $561,500 |
Property Taxes
Parcel Number
75-06-23-301-114.000-004
Land Assessment
$170,800
Improvements Assessment
$390,700
Total Assessment
$561,500
Contacts
-
Michael Carter -
Frank Rogers -
Matthew Mousavi -
Patrick Luther -
SRS Real Estate Partners
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Advance Auto Parts | Corp NNN | 504 S Heaton St
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