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Advance Auto Parts 730 Charlevoix Ave

6,895 SF Retail Building Petoskey, MI 49770 $2,076,923 ($301/SF) 6.50% Cap Rate

Retail Buildings Michigan Petoskey 730 Charlevoix Ave, Petoskey, MI 49770

Investment Highlights

  • Corporate Guarantee | S&P Credit Rating "BB+" | Ideal Low-Management Investment For a Passive Investor
  • Top-Performing Location Nationwide | 90th Percentile via Placer.Ai | Top 97th Percentile In Michigan | 392 Out Of 4,200 Locations Nationwide
  • High Barrier Entry To Market | Priced Below Replacement Cost
  • Built-To-Suit For Advance Auto Parts in 2014 | 4+ Years Remain On The Original 15-Year Lease
  • Firestone Roof With Transferrable Warranty | Good Through August 2034
  • Major Tourist Destination | Over 750,000 People Annually Visit Petoskey, Charlevoix, and Boyne City

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 2014 | 4+ Years Remain On The Original 15-Year Lease
Top-Performing Location Nationwide | 90th Percentile via Placer.Ai | Top 97th Percentile In Michigan | 392 Out Of 4,200 Locations Nationwide | 4 Out Of 127 In Michigan
Lease Supports Three - 5-Year Options with 5% Rental Increases In Each Option

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
6,895 SF
Building Class
C
Year Built
2014
Price
$2,076,923
Price Per SF
$301
Cap Rate
6.50%
NOI
$135,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.33
Land Acres
0.48 AC
Zoning
COP B-3

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730 Charlevoix Ave, Petoskey, MI - aerial map view - Image1
730 Charlevoix Ave, Petoskey, MI - aerial map view - Image2

PROPERTY TAXES

Parcel Number 52-19-06-100-038 Improvements Assessment $0
Land Assessment $948,100 Total Assessment $948,100

PROPERTY TAXES

Parcel Number
52-19-06-100-038
Land Assessment
$948,100
Improvements Assessment
$0
Total Assessment
$948,100
(248) 702-0288

  • Listing ID: 33754122

  • Date on Market: 11/5/2024

  • Last Updated:

  • Address: 730 Charlevoix Ave, Petoskey, MI 49770

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Advance Auto Parts | 730 Charlevoix Ave
(248) 702-0288 x

Advance Auto Parts | 730 Charlevoix Ave

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Deno Bistolarides

(248) 702-0288

(248) 702-0288

Nick Yaldo

(248) 970-2648

(248) 970-2648

Brent Hanna

(248) 702-0293

(248) 702-0293

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