Auto Parts NN Leased Retail | 7.24% CAP | NEW PRICE
8 Years Remaining on Lease
Marketing description
The offering presents a single-tenant net-leased retail asset occupied by Advance Auto Parts located at 3133 E. Michigan Avenue in Jackson, Michigan. The freestanding building consists of approximately 6,754 square feet situated on a 1.7-acre parcel along the high-traffic E. Michigan Avenue corridor, offering exceptional visibility and ease of access.
The property is offered at an asking price of $1,160,00 and is leased under a net lease (NN) structure with an annual rent of $84,000, producing a 7.24% cap rate. The lease is in place through December 31, 2034, with multiple option periods extending potential income through 2049. The tenant reimburses real estate taxes and insurance and is responsible for interior maintenance and repairs, providing a favorable expense profile for ownership.
Located adjacent to Eastgate Shopping Center and surrounded by established retail, schools, churches, and regional malls, the property benefits from strong traffic drivers and long-term retail fundamentals. The asset is priced below replacement cost, presenting an attractive opportunity for investors seeking stable cash flow from a nationally recognized tenant in a durable retail location.
Investment highlights
- Single-Tenant Net-Leased Retail Asset
- National Tenant: Advance Auto Parts
- Asking Price: $1,160,000
- Cap Rate: 7.24%
- Annual Rent: $84,000
- Net (NN) Lease Structure
- Lease Expiration: 12/31/2034 with Multiple Extension Options
- Below Replacement Cost
- High-Visibility Location on E. Michigan Avenue
- Adjacent to Eastgate Shopping Center
- Freestanding Building on 1.7 Acres with Approx. 30 Parking Spaces
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