2230 Fort St - Freestanding FOR SALE


Lincoln Park, MI 48146
$1,723,000 USD
248-688-0630
2230 Fort St, Lincoln Park, MI for Sale
$1,723,000 USD
Freestanding - FOR SALE
1/9
null | 7.75% Cap Rate

2230 Fort St
Lincoln Park, MI 48146


HIGHLIGHTS

  • Corporate Guaranteed (NYSE:AAP) | Long Term Occupancy
  • NNN | Fee Simple Ownership | Limited Landlord Responsibilities
  • Detroit Retail Corridor | Excellent Visibility on Fort St. (36K+ VPD)
  • Strong Demographics In 5-Mile Trade Area | Detroit MSA

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,723,000 USD

PRICE/SF

$280 USD /SF

CAP RATE

7.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Advance Auto Parts | Corp NNN

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Auto Repair

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2010

SPRINKLERS

-

PARKING SPACES

28

LAND DETAILS

LAND ACRES

0.95 AC

LAND SF

41,382 SF

ZONING

CM

APN/PARCEL ID

45-009-03-0207-301

ASK ABOUT THIS PROPERTY

Michael CarterSRS Real Estate PartnersMore Info
248-688-0630

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Michael CarterSRS Real Estate PartnersMore Info
248-688-0630

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.