8145 W US Hwy 2
Iron Mountain, MI 49801
Former Advance Auto Parts · Retail Property For Sale
Investment Highlights
- Strong Tenant - 4,843 Corporate Locations, Advance Auto Parts is a publicly traded company (NYSE: AAP). $9.7 Billion in Revenues in 2019
- Highway Location - Superbly located with visibility along US Highway 2, the major thoroughfare in Iron Mountain.
- Minimal Landlord Responsibility - Triple Net Lease. Landlord is only responsible for the structure. There are no other Management responsibilities.
- Home Depot/Walmart Supercenter - The subject property is an outparcel to Home Depot and Walmart Supercenter and has remained open and has paid rent.
- Rental Increases - 7% Rental Increases every 5 years throughout the base term and option periods.
Property Facts
Amenities
- Freeway Visibility
- Signage
- Wheelchair Accessible
- Monument Signage
- Air Conditioning
About 8145 W US HWY 2 , IRON MOUNTAIN, MI 49801
Prime Net Lease is pleased to exclusively offer this NNN lease Advance Auto Parts store located at 8145 US Highway 2, Iron Mountain, MI. The current lease has 4 years remaining, with three 5-year options to renew. The lease is guaranteed by Advanced Auto Parts Corporation (NYSE: AAP) which has over 4,843 locations and had revenues of over $9.7 Billion in 2019. Advance Auto Parts is situated on an outparcel of Home Deport and Walmart along US Highway 2. The parcel size is 1.15 acres. The subject property is located within the main retail corridor of Iron Mountain, drawing many residents to the area. Surrounding tenants include Home Depot, Walmart Supercenter, Dollar Tree, Arby’s, Burger King, Jimmy John’s and Tractor Supply. Iron Mountain is a city in the U.S. state of Michigan. The population was 7,624 at the 2010 census. It is the county seat of Dickinson County, in the state's Upper Peninsula. Iron Mountain was named for the valuable iron ore found in the vicinity. Iron Mountain is the principal city of the Iron Mountain, MI-WI Micropolitan Statistical Area, which includes all of Dickinson County, Michigan and Florence County in Wisconsin. Iron Mountain hosts a few points of interest such as the Millie Hill bat cave, The Cornish Pump, and is located adjacent to Pine Mountain ski jump/ski resort, one of the largest artificial ski jumps in the world. It shares Woodward Avenue with the neighboring town, Kingsford. In addition, Iron Mountain is known for its pasties, Bocce Ball Tournaments, World Cup Ski Jumps, and Italian cuisine.
Property Taxes
| Parcel Number | 002-132-013-50 | Improvements Assessment | $357,500 |
| Land Assessment | $0 | Total Assessment | $357,500 |
Property Taxes
