CBRE’s Net Lease Property Group—Midwest is pleased to present to qualified individuals the opportunity to acquire 100% fee interest in a freestanding Advance Auto Parts located in Indianapolis, IN. Advance Auto Parts has a 20-year operating history at this location and recently executed an early 10-year extension, carrying the term through April 2035, further demonstrating its commitment to the site. The lease features a strong 6.67% rental increase in May 2030 and three, 5-year renewal options with healthy rental increases in each option.
Advance Auto enjoys a prime location with direct access via a dedicated left-turn lane on Pendleton Pike (35,500 VPD) to Thunderbird Road, offering outstanding visibility and accessibility for customers. Its strategic positioning enhances its long-term viability, with strong redevelopment potential to accommodate a variety of uses. There are over 25,500 households within a three-mile radius of the property, providing a direct residential consumer base. More than 184,867 residents support the trade area, earning an average household income of over $94,474.
Advance Auto Parts is a leading retailer of automotive aftermarket parts, accessories, and maintenance products. It operates both physical stores and an e-commerce platform. In 2023, the company generated approximately $11.3 billion in revenue. The company serves both professional installers and do-it-yourself customers, with a strong presence in North America.