The Boulder Group is pleased to exclusively market for sale a single tenant net leased Advance Auto Parts property located in Warsaw, Indiana. Advance Auto Parts has been operating at this location since 2005, reports strong store sales, and has extended the lease several times demonstrating commitment to the site. The lease currently runs through December 2034 and features a significant 21% rent escalation in the first renewal option. The lease features a rare lease clause that provides sales reports to the landlord (contact broker for details).
The 7,000 square-foot building benefits from its position along North Detroit Street (22,600 VPD) and proximity to US Highway 30 which experiences over 30,000 vehicles per day. The surrounding area features a strong presence of national retailers including Meijer, Lowe’s, Walmart, Menards, Starbucks, Buffalo Wild Wings, Sherwin-Williams, O’Reilly Auto Parts, and several others. The corridor attracts additional traffic due to Lutheran Kosciusko Hospital, a 72-bed facility, and Warsaw Municipal Airport. There are over 37,500 people living within a five-mile radius that earn an average household income of $98,299.
Advance Auto Parts, Inc. is a leading automotive aftermarket parts provider that serves both professional installers and do-it-yourself customers. Founded in 1932 and headquartered in Raleigh, North Carolina, the company operates over 4,700 stores and 150 Worldpac branches in the United States, Canada, Puerto Rico, and the Virgin Islands. Advance Auto Parts offers a comprehensive selection of automotive products, including replacement parts, batteries, accessories, and maintenance items.