Advance Auto Parts | 22901 Gratiot Ave
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Advance Auto Parts 22901 Gratiot Ave
7,000 SF Retail Building Eastpointe, MI 48021 $2,130,964 ($304/SF) 7.25% Cap Rate
Investment Highlights
- Corporate Guarantee | S&P Credit Rating "BB+" | Ideal Low-Management Investment For a Passive Investor
- Lease Supports Two - 5-Year Options with 5% Rental Increases In Each Option
- 2 Miles To The On/Off Ramps Off I-696 | 135,000 VPD+
- Built-To-Suit For Advance Auto Parts in 2008 | 3+ Years Remain
- High Barrier Entry To Market | Priced Below Replacement Cost
- 10 Miles To Downtown Detroit
Executive Summary
Corporate Guarantee | S&P Credit Rating "BB+" | Ideal Low-Management Investment For a Passive Investor
Built-To-Suit For Advance Auto Parts in 2008 | 3+ Years Remain
Lease Supports Two - 5-Year Options with 5% Rental Increases in Each Option
Tenant Exercised Option in 2023 Demonstrating Their Commitment to the Location
Excellent Visibility and Access Off Gratiot and N Park Ave | Over 43,000 VPD+
375,000 People within 5 Miles of The Subject Property | Average HH Income within 5 Miles Exceeds $69,000
Dense Retail Corridor With Major National Brands: Kroger, Bank of America, Popeye's, Five Guys, Petco, Wingstop, CVS, Aldi, Olive Garden, Walgreens and Many More
Built-To-Suit For Advance Auto Parts in 2008 | 3+ Years Remain
Lease Supports Two - 5-Year Options with 5% Rental Increases in Each Option
Tenant Exercised Option in 2023 Demonstrating Their Commitment to the Location
Excellent Visibility and Access Off Gratiot and N Park Ave | Over 43,000 VPD+
375,000 People within 5 Miles of The Subject Property | Average HH Income within 5 Miles Exceeds $69,000
Dense Retail Corridor With Major National Brands: Kroger, Bank of America, Popeye's, Five Guys, Petco, Wingstop, CVS, Aldi, Olive Garden, Walgreens and Many More
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
7,000 SF
Building Class
B
Year Built
2008
Price
$2,130,964
Price Per SF
$304
Cap Rate
7.25%
NOI
$154,495
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
0.88 AC
Opportunity Zone
Yes
Zoning
RETAIL 5K - Commercial Zoned District
Parking
35 Spaces (5 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Security System
- Signage
- Tenant Controlled HVAC
- Monument Signage
- Air Conditioning
Walk Score ®
Very Walkable (83)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 02-14-30-380-030 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $481,200 |
PROPERTY TAXES
Parcel Number
02-14-30-380-030
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$481,200
Contacts
-
Deno Bistolarides -
Nick Yaldo -
Brent Hanna -
Encore Real Estate Investment Services
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Advance Auto Parts | 22901 Gratiot Ave
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