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Advance Auto Parts | Corp NNN 2230 Fort St 6,157 SF Retail Building Lincoln Park, MI 48146 $2,407,307 CAD ($390.99 CAD/SF) 7.75% Cap Rate

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Investment Highlights

Corporate Guaranteed (NYSE:AAP) | Long Term Occupancy
Detroit Retail Corridor | Excellent Visibility on Fort St. (36K+ VPD)

NNN | Fee Simple Ownership | Limited Landlord Responsibilities
Strong Demographics In 5-Mile Trade Area | Detroit MSA

Executive Summary

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.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Freestanding

Building Size

6,157 SF

Building Class

Year Built

2010

Price

$2,407,307 CAD

Price Per SF

$390.99 CAD

Cap Rate

7.75%

NOI

$186,521 CAD

Tenancy

Single

Building Height

1 Story

Building FAR

0.15

Lot Size

0.95 AC

Zoning

CM - Commercial Mixed Use

Parking

28 Spaces (4.55 Spaces per 1,000 SF Leased)

Frontage

130’ on Fort

Corner Lot

Dedicated Turn Lane

Signage

Monument Signage

Retailer
99,999 SF
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Advance Auto Parts began in 1932 when Arthur Taubman acquired Advance Stores in Virginia, and the business later developed into a publicly traded automotive aftermarket retailer. The company serves professional installers and do-it-yourself customers through retail stores, online shopping, and customer support services, with offerings that include replacement parts, accessories, batteries, and maintenance items. Advance Auto Parts also operates the Carquest brand and maintains a broad North American presence that includes the United States, Canada, Puerto Rico, and the U.S. Virgin Islands.