Knox, IN - Advance Auto Parts
$1,355,000
504 S. Heaton St, Knox, IN 46534
8.25
Cap Rate
111,767
NOI
Details:
Description:
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN, corporate guaranteed (NYSE: AAP) Advance Auto Parts investment property located in Knox, IN. The tenant, Advance Auto Parts, Inc., has occupied the site for over 20-years and has 3 (5-year) options to extend. The lease features 5% rental increases at the beginning of each option period, providing a hedge against inflation. The lease is NNN with minimal landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. Advance Auto Parts is a leading automotive parts provider with over 4,300 stores.
The subject property benefits from excellent visibility and access along South Heaton Street (13,300 VPD) Knox’s primary commercial corridor. The thoroughfare is supported by a concentration of national QSR and retail tenants including McDonald’s, Burger King, Taco Bell, Tractor Supply Co., Subway, and O’Reilly Auto Parts, generating significant crossover retail exposure. Knox functions as the commercial, governmental, and services hub for Starke County. The city’s position along US
35 and US 6, key north-south and east-west corridors in northwest Indiana, provides consistent vehicle traffic through the retail district and provides the tenant with access to both city residents and passing regional traffic. Starke County’s agricultural economy, ranked among Indiana’s top producers of agricultural output, is anchored by substantial vehicle fleets accruing significant miles driven, creating a consistent need for auto parts and maintenance supplies.
Location
Gallery
