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Advance Auto Parts | Corp NNN 504 S Heaton St 7,000 SF Retail Building Knox, IN 46534 $1,893,152 CAD ($270.45 CAD/SF) 8.25% Cap Rate
Investment Highlights
- Corporate Guaranteed (NYSE:AAP) | Long Term Occupancy
- Excellent Visibility on South Heaton St. (13,300 VPD) |Primary Commercial Corridor Ft. National Retail Tenants
- NNN | Fee Simple Ownership | Limited Landlord Responsibilities
- Direct Consumer Base | Centralized Midwest Location
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 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.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
7,000 SF
Building Class
B
Year Built
2006
Price
$1,893,152 CAD
Price Per SF
$270.45 CAD
Cap Rate
8.25%
NOI
$156,156 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.21
Lot Size
0.76 AC
Zoning
C-2 - Commercial
Parking
38 Spaces (5.43 Spaces per 1,000 SF Leased)
Frontage
264’ on Heaton St
Amenities
- Corner Lot
- Dedicated Turn Lane
- Pylon Sign
- Signage
Fairly walkable
40/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 75-06-23-301-114.000-004 | Improvements Assessment | $544,788 CAD |
| Land Assessment | $238,162 CAD | Total Assessment | $782,950 CAD |
Property Taxes
Parcel Number
75-06-23-301-114.000-004
Land Assessment
$238,162 CAD
Improvements Assessment
$544,788 CAD
Total Assessment
$782,950 CAD
Contacts
-
Michael Carter -
Frank Rogers -
Matthew Mousavi -
Patrick Luther -
SRS Real Estate Partners
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Advance Auto Parts | Corp NNN | 504 S Heaton St
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