Auto Parts Retail 7.73% CAP New Castle, PA
8 Years Remaining on Lease
Marketing description
The offering presents a single-tenant net-leased retail asset occupied by Advance Auto Parts. The freestanding building consists of approximately 8,174 square feet and is situated on a 0.73-acre corner parcel with exceptional visibility, ample parking, and easy access in a high-traffic commercial area. The site is not proximate to industrial complexes, supporting long-term retail viability.
The property is offered at a listing price of $748,525, generating a 7.73% cap rate on annual rent of $57,861. The lease is structured as a net (NN) lease, with the tenant responsible for taxes, insurance, utilities, interior maintenance, assignment and subletting provisions, and estoppel certification. The landlord retains responsibility for the roof, HVAC system, parking area, and the structural components of the building, including slab and foundation.
Originally constructed in 1993, the building features decorative cinder block construction and has benefited from a new roof installed in sections, completed in 2023. The asset is priced well below replacement cost and offers investors stable income from a nationally recognized automotive retailer in a strong, visible corner location.
Investment highlights
- Single-Tenant Net-Leased Retail Asset
- National Tenant: Advance Auto Parts
- Listing Price: $748,525
- Cap Rate: 7.73%
- Annual Rent: $57,861
- Net (NN) Lease Structure
- Well Below Replacement Cost
- 8,174 SF Freestanding Building on 0.73 Acres
- Decorative Cinder Block Construction | Built 1993
- New Roof Installed in Sections (Completed 2023)
- Approx. 29 On-Site Parking Spaces
- Corner Location with Exceptional Visibility and Access
- Strong Automotive Retail Use in Established Trade Area
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