Advance Auto Parts - 10 Year Firm Lease Term | 3133 E Michigan Ave
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Advance Auto Parts - 10 Year Firm Lease Term 3133 E Michigan Ave
6,754 SF Retail Building Jackson, MI 49202 $1,225,000 ($181/SF) 6.86% Cap Rate
Investment Highlights
- Corporate Guarantee By NYSE Company (AAP)
- Proven Location - 24 Years of Occupancy
- Huge Lot - 1.7 Acres
- 10 Years of Firm Lease Term
- Dense Location - 70,000 5-Mile Population
- Great Michigan Ave. Location
Executive Summary
PRICE REDUCED! Excellent Location! This property is an original build-to-suit for Advance Auto Parts (NYSE: AAP) located on busy Michigan Avenue in Jackson, Michigan. The property was built in 1999 and features a 6,754 square foot building on a large lot of just over 1.7 Acres. The location is excellent with over 20,000 vehicles per day and over 70,000 full time residents within a 5 mile radius. Advance Auto has always done well here and just recently extended the lease giving this location a full 10 year firm term with an expiration date of 12/31/2034. The lease is a modified NNN lease with landlord responsible for roof and structure and tenant responsible for all interior maintenance, property taxes, insurance, HVAC, and for half of the cost of any HVAC replacements.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
6,754 SF
Building Class
C
Year Built
1998
Price
$1,225,000
Price Per SF
$181
Cap Rate
6.86%
NOI
$84,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
1.70 AC
Zoning
C1 - Commercial
Parking
33 Spaces (4.89 Spaces per 1,000 SF Leased)
Frontage
126 FT on Michigan
Amenities
- Bus Line
- Signage
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 000-09-31-152-008-01 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $426,908 |
PROPERTY TAXES
Parcel Number
000-09-31-152-008-01
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$426,908
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Advance Auto Parts - 10 Year Firm Lease Term | 3133 E Michigan Ave
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