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33527772
33527773

2230 Fort Street, Lincoln Park, MI 48146

MC
MI 6501369793
SRS Real Estate Partners Newport Beach
FR
MI 6502417063
SRS Real Estate Partners Newport Beach
PL
CA 01912215, NV S.0169792 (+1)
SRS Real Estate Partners Newport Beach
MM
CA 01732226
SRS Real Estate Partners Newport Beach
Listed by SRS Real Estate Partners Newport Beach
$1,723,000
2 days on market
Updated 2 days ago

Advance Auto Parts

Details
APN 45 009 03 0207 301
Property Type Retail
Sub Type Auto Shop
Square Footage 6,157
Cap Rate 7.75%
NOI $133,500
Tenancy Single
Brand/Tenant Advance Auto Parts
Lease Type NNN
Lease Term 24.8
Lease Expiration 12/31/2033
Remaining Term 7.6
Rent Bumps Yes
Lease Options 3 (5-year) options
Year Built 2010
Acreage 0.950
Zoning CM (Commercial Mixed-Use)
Parking Spaces 28 spaces
Parking Per SqFt 4.55
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 03/24/2009
Ground Lease No
Ownership Fee Simple (Land & Building Ownership)

Retail | 7.75% CAP | 6,157 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 Lincoln Park, MI (Detroit MSA). The tenant, Advance Auto Parts, Inc., has over 7-years remaining on its lease with 3 (5-year) options to extend. The lease features 7% 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. The tenant has successfully operated at the location for more than 17-years.

Investment highlights

  • The tenant, Advance Auto Parts, Inc., has over 7-years remaining on its lease with 3 (5-year) options to extend
  • The lease features 7% rental increases at the beginning of each option period, providing a hedge against inflation
  • Advance Auto Parts is a leading automotive parts provider with 4,300+ stores

Listing Contacts

MC
MI 6501369793
SRS Real Estate Partners Newport Beach
FR
MI 6502417063
SRS Real Estate Partners Newport Beach
PL
CA 01912215, NV S.0169792 (+1)
SRS Real Estate Partners Newport Beach
MM
CA 01732226
SRS Real Estate Partners Newport Beach
Listed by SRS Real Estate Partners Newport Beach

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$133,500.00
$11,125.00/mo

Valuation Metrics

0
DSCR
7.75%
Cap Rate
7.75%
ROI

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Additional Information

Name
Frank Rogers
License
6502417063
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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