Listed by SRS Real Estate Partners Newport Beach
$1,355,000
Advance Auto Parts
Details
APN 75-06-23-301-114.000-004
Property Type Retail
Sub Type Auto Shop
Square Footage 6,860
Cap Rate 8.25%
NOI $111,767
Tenancy Single
Brand/Tenant Advance Auto Parts
Lease Type NNN
Lease Term 23.7
Lease Expiration 12/31/2029
Remaining Term 3.6
Rent Bumps Yes
Lease Options 3 (5-year) options to extend
Year Built 2006
Acreage 0.760
Zoning C-2 (Commercial)
Parking Spaces 38 spaces
Parking Per SqFt 5.54
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 04/13/2006
Ground Lease No
Ownership Fee Simple (Land & Building Ownership)
Retail | 8.25% CAP | 6,860 SqFt
Marketing description
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN, corporate guaranteed (NYSE: AAP) Advance Auto Parts investment property located in Knox, IN. The tenant, Advance Auto Parts, Inc., has occupied the site for over 20-years and has 3 (5-year) options to extend. The lease features 5% rental increases at the beginning of each option period, providing a hedge against inflation. The lease is NNN with minimal landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. Advance Auto Parts is a leading automotive parts provider with over 4,300 stores.
Investment highlights
- Corporate Guaranteed (NYSE:AAP) | Long Term Occupancy
- The tenant, Advance Auto Parts, Inc., has occupied the site for over 20-years and has 3 (5-year) options to extend
- The lease features 5% rental increases at the beginning of each option, providing a hedge against inflation
- Advance Auto Parts is a leading automotive parts provider with 4,300+ stores
Listing Contacts
Listed by SRS Real Estate Partners Newport Beach
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$111,767.00
$9,313.92/mo
Valuation Metrics
0
DSCR
8.25%
Cap Rate
8.25%
ROI
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