1215 N Detroit St - Freestanding FOR SALE


Warsaw, IN 46580
$1,095,000 USD
847-562-9280
1215 N Detroit St, Warsaw, IN for Sale
$1,095,000 USD
Freestanding - FOR SALE
1/5
null | 6.85% Cap Rate

1215 N Detroit St
Warsaw, IN 46580


HIGHLIGHTS

  • Recent lease extension through December 2034
  • Significant 21% rental escalation in the first renewal option
  • AAP has executed multiple lease extensions demonstrating commitment to the site
  • Strong annual location sales reporting – Contact broker for details
  • Strong annual location sales reporting – Contact broker for det
  • Nearby retailers include Meijer, Lowe’s, Walmart, Menards, Starbucks, Buffalo Wild Wings, Sherwin-Williams, O’Reilly Auto Parts, & several others

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,095,000 USD

PRICE/SF

$156 USD /SF

CAP RATE

6.85%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Advance Auto Parts

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.83 AC

LAND SF

36,155 SF

ZONING

C-2 G

APN/PARCEL ID

43-11-05-300-284.000-032

ASK ABOUT THIS PROPERTY

John FeeneyThe Boulder GroupMore Info
847-562-9280

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John FeeneyThe Boulder GroupMore Info
847-562-9280

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.