Listed by Trinity Real Estate Investment Services
$787,500
Advance Auto Parts
Details
Property Type Retail
Sub Type Auto Shop
Square Footage 7,000
Cap Rate 8.00%
NOI $63,000
Tenancy Single
Brand/Tenant AutoZone, O'Reilly Auto Parts
Lease Type NN
Lease Term 31.6
Lease Expiration 12/31/2031
Remaining Term 5.5
Rent Bumps Yes
Lease Options Two (2), 5-Year; 21.66%
Price per SqFt $113
Year Built 2000
Acreage 0.890
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 05/15/2000
Ground Lease No
Ownership Fee Simple
Retail | 8.00% CAP | 7,000 SqFt
Marketing description
Trinity Real Estate Investment Services is pleased to present the opportunity to acquire an Advance Auto Parts in New Baltimore, MI. The subject property is located within the Detroit metro area and has a 67,000+ 5-mile population.
Property Website: https://trinityreis.com/listing/35157-twentry-three-mile-rd/
In cooperation with Brian Brockman at Bang Realty-Michigan, Inc | MI #6502428679 | [email protected] | (513) 898-1551
Investment highlights
- Detroit MSA Advance Auto Parts in New Baltimore, MI
- NN Lease With 5+ Years Remaining on Current Term
- Attractive 21.66% Rent Increase in the Option Periods
- 67,000+ 5 Mile Population – Surrounded by Residential Properties With Strong Built-In Customer Base
- Highly Visible Frontage on 23 Mile Rd With 33,000+ Vehicles Passing Daily
- Affluent Suburban Community With Over $113K Average Household Income Within 3-Mile Area
- Corporately Guaranteed Lease by Advance Auto Parts, a Fortune 500 Company With Over 4,700 Locations Nationwide
- Located Within the Detroit Metro Area, Offering Access to Over 4 Million Residents and a Robust Economic Base
Listing Contacts
Listed by Trinity Real Estate Investment Services
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$63,000.00
$5,250.00/mo
Valuation Metrics
0
DSCR
8%
Cap Rate
8%
ROI
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