Advance Auto Parts | 4+yrs Remain NN | 1700 Dakota Ave
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Advance Auto Parts | 4+yrs Remain NN 1700 Dakota Ave
7,000 SF Retail Building South Sioux City, NE 68776 $897,000 ($128/SF) 7.75% Cap Rate
Investment Highlights
- 4+ Years Remaining | Option To Extend | Popular Brand
- Signalized, Hard-Corner Intersection (52,500 VPD) | Excellent Visibility | Significant Street Frontage | Large Sign
- NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
Executive Summary
Lee & Associates | Omaha is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NN leased, Advance Auto Parts investment property located in South Sioux City, Nebraska. The tenant, Advance Stores Company, Inc., has approximately 4 years remaining on its lease with 1 (5-year) option to extend, demonstrating their commitment to the site. The lease features a 22.68% rental increase at the beginning of the remaining option, steadily growing NOI and hedging against inflation. The lease is absolute NN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. Advance Auto Parts currently has over 4,000 locations across the United States, Canada, Mexico, and more.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
7,000 SF
Building Class
C
Year Built
2000
Price
$897,000
Price Per SF
$128
Cap Rate
7.75%
NOI
$69,504
Tenancy
Single
Building Height
1 Story
Building FAR
0.24
Lot Size
0.67 AC
Zoning
COMMERCIAL
Parking
38 Spaces (5.43 Spaces per 1,000 SF Leased)
Frontage
158 FT on Dakota
Amenities
- Corner Lot
- Pylon Sign
- Signage
- Signalized Intersection
Walk Score ®
Very Walkable (76)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 220027323 | Improvements Assessment | $576,970 |
| Land Assessment | $73,080 | Total Assessment | $650,050 |
PROPERTY TAXES
Parcel Number
220027323
Land Assessment
$73,080
Improvements Assessment
$576,970
Total Assessment
$650,050
Contact
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Advance Auto Parts | 4+yrs Remain NN | 1700 Dakota Ave
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