7340 Michigan Rd
Indianapolis, IN 46268
Advance Auto Parts · Retail Property For Sale

Marcus & Millichap is pleased to exclusively present for sale fee simple interest in this single-tenant net-leased Advanced Auto Parts in Indianapolis, Indiana. The 7,000 square foot building is positioned upon .72 acres with excellent exposure along Michigan Road, one of Indianapolis main thoroughfares. Michigan Road was one of the earliest roads in Indiana and was Indiana’s first “super highway” traveling from Michigan City all the way down to Lawrenceburg, Indiana. The demographics illustrate how dense of an area it is, with over 186,261 residents within 5 miles of the property, and an estimated daytime population of over 250,000 people. There are more than 700,000 residents within 10 miles of the subject property, with an average household income of $77,313. Advance Auto Parts signed their original lease in 2003 upon the completion of the build-to-suit construction of the building. The base term was for 10 years with the lease expiring in June 2014. Advance Auto elected to exercise their first five-year option in 2012, two years early, demonstrating their commitment to this location. Advance Auto again elected for an early lease renewal for the second time, extending the lease through December 2024. There are now 7 years left on the current lease term with two, five-year renewal options available with rent increases. Headquartered in Roanoke, Va., Advance Auto Parts, Inc., the largest automotive aftermarket parts provider in North America, serves both the professional installer and do-it-yourself customers. Advance operates over 5,200 stores, over 100 Worldpac branches and serves approximately 1,300 independently owned Carquest branded stores in the United States, Puerto Rico, the U.S. Virgin Islands and Canada. Advance employs approximately 74,000 Team Members.