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Advance Auto Parts 1215 N Detroit St
7,000 SF Retail Building Warsaw, IN 46580 £889,493 (£127/SF) 6.65% Net Initial Yield
Investment Highlights
- Recent lease extension through December 2034
- AAP has executed multiple lease extensions demonstrating commitment to the site
- Strong annual location sales reporting – Contact broker for det
- Significant 21% rental escalation in the first renewal option
- Strong annual location sales reporting – Contact broker for details
- Nearby retailers include Meijer, Lowe’s, Walmart, Menards, Starbucks, Buffalo Wild Wings, Sherwin-Williams, O’Reilly Auto Parts, & several others
Executive Summary
The 7,000 square-foot building benefits from its position along North Detroit Street (22,600 VPD) and proximity to US Highway 30 which experiences over 30,000 vehicles per day. The surrounding area features a strong presence of national retailers including Meijer, Lowe’s, Walmart, Menards, Starbucks, Buffalo Wild Wings, Sherwin-Williams, O’Reilly Auto Parts, and several others. The corridor attracts additional traffic due to Lutheran Kosciusko Hospital, a 72-bed facility, and Warsaw Municipal Airport. There are over 37,500 people living within a five-mile radius that earn an average household income of $98,299.
Advance Auto Parts, Inc. is a leading automotive aftermarket parts provider that serves both professional installers and do-it-yourself customers. Founded in 1932 and headquartered in Raleigh, North Carolina, the company operates over 4,700 stores and 150 Worldpac branches in the United States, Canada, Puerto Rico, and the Virgin Islands. Advance Auto Parts offers a comprehensive selection of automotive products, including replacement parts, batteries, accessories, and maintenance items.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
£59,191
|
£8.46
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | £59,191 |
| Annual Per SF | £8.46 |
Property Facts
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease End
-
- Retailer
- -
- -
- Dec 2034
Advance Auto Parts, Inc. is a leading automotive aftermarket parts provider that serves both professional installers and do-it-yourself customers. As of July 13, 2024, Advance operated many stores and Worldpac branches primarily within the United States, with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands. The company also served independently owned Carquest branded stores across these locations in addition to Mexico and various Caribbean islands. Additional information about Advance, including employment opportunities, customer services, and online shopping for parts, accessories and other offerings can be found www.AdvanceAutoParts.com.
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease End | ||
|
|
Retailer | - | - | Dec 2034 |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 43-11-05-300-284.000-032 | Improvements Assessment | £384,401 |
| Land Assessment | £135,077 | Total Assessment | £519,478 |
PROPERTY TAXES
-
John Feeney -
Randy Blankstein -
The Boulder Group
Presented by
Advance Auto Parts | 1215 N Detroit St
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