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NAPA Auto Parts 65 S State St 3,000 SF Retail Building Hart, MI 49420 $285,000 ($95/SF) 8.95% Cap Rate
INVESTMENT HIGHLIGHTS
- Genuine Parts Company (NYSE Ticker GPC) Corporate Lease
- Fortune 200 Tenant with $17.7B Market Cao
- Attractive Cap Rate
- 60 Year History at Location
- Highly Visible and Recognizable Main Street Location in Historic Downtown Hart, MI
- Extremely Low Price Point for Investment Grade Tenant
EXECUTIVE SUMMARY
Genuine Parts Company (GPC) recently executed a three year lease renewal for the Hart location effective June 2025. The corporate backed lease has one (1), 3-year renewal options, which includes a 5% rent increase in the option period. Local store management has been in place for decades and the location is deemed to be a solid performer in the NAPA store network.
NAPA Auto Parts was founded in 1925 and is a leading retailer of automotive replacement parts. Genuine Auto Parts (NYSE: GPC), NAPA's parent company, has a BBB investment-grade rating from Standard & Poor’s.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$31,500
|
$10.50
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$31,500
|
$10.50
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $31,500 |
| Annual Per SF | $10.50 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $31,500 |
| Annual Per SF | $10.50 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
-
- Retailer
- -
- -
- -
In 1925, a group of independent auto parts sellers met in Detroit to form the National Automotive Parts Association. Their mission was simple: Improve the distribution of auto parts to serve the people and businesses who increasingly relied on cars and trucks for their transportation needs. NAPA stores and warehouses, which were owned by a variety of member companies at the time, quickly became the go-to sources for parts. Carlyle Fraser, founder of Genuine Parts Company, served as a key NAPA contributor in its early years. Across the decades, Genuine Parts began to acquire the other NAPA member companies, and in 2012 became the last remaining member of NAPA, a brand with a reputation for quality parts, rapid availability, and knowledgeable people. Today, the NAPA Network offers hundreds of thousands of unique parts, distributed across many distribution centers, thousands of NAPA Auto Parts stores and even more NAPA Auto Care centers throughout the United States.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
|
|
Retailer | - | - | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $145,600 | |
| Land Assessment | $26,700 | Total Assessment | $172,300 |
PROPERTY TAXES
Presented by
NAPA Auto Parts | 65 S State St
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