5524 Schaefer Rd
Dearborn, MI 48126
Advance Auto Parts | Detroit MSA · Retail Property For Sale

Marcus & Millichap, on behalf of ownership as its exclusive advisor, is pleased to bring to market Advance Auto Parts in Dearborn, Michigan. The free-standing store measures 7,064-square-feet and was delivered to the tenant in 2012 as a retrofit of an existing building. Advance Auto Parts is halfway through its original ten-year lease, and is bound by double net terms through June 2022. The only landlord responsibilities are roof, structure, and parking lot replacement. The tenant is responsible for HVAC maintenance, repair, and replacement, as well as the repair and maintenance of the parking lot. In addition, the tenant is responsible for all common area maintenance and carries their own insurance, also reimbursing the landlord for all real estate taxes. There are four, five-year renewal options, each having an approximately eight percent rent increase. The subject property is located at the signalized intersection of Schaefer Road and Ford Road in the Detroit suburb of Dearborn. Ford Road is a major east-west thoroughfare seeing 39,946 cars per day, with 4 lanes in each direction plus turning lanes where necessary. Schaefer Road is a major north-south corridor seeing 25,539 cars per day, with 2 lanes in each direction. Traffic at the subject property's hard corner location is estimated at over 47,000 cars per day. The property benefits from two entrances, one on Ford Road and the other on Schaefer Road, allowing maximum ingress and egress to and from the site. Advance Auto is situated in an extremely dense infill location, with 23,853 residents in a one mile radius and 135,202 residents within three miles