Advance Auto Parts

Highlights:

• Corporate Guarantee | S&P Credit Rating "BB+" | Ideal Low-Management Investment For a Passive Investor
• Built-To-Suit For Advance Auto Parts in 2008 | 3+ Years Remain
• Lease Supports Two - 5-Year Options with 5% Rental Increases in Each Option
• Tenant Exercised Option in 2023 Demonstrating Their Commitment to the Location
• Excellent Visibility and Access Off Gratiot and N Park Ave | Over 43,000 VPD+
• 375,000 People within 5 Miles of The Subject Property | Average HH Income within 5 Miles Exceeds $69,000
• Dense Retail Corridor With Major National Brands: Kroger, Bank of America, Popeye's, Five Guys, Petco, Wingstop, CVS, Aldi, Olive Garden, Walgreens and Many More

Description:

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EASTPOINTE, MI is a city within the Detroit MSA positioned on the southern edge of Macomb County. It is located 10 miles northwest of Downtown Detroit and 50 miles east of Ann Arbor. The population is 34,318 people, which is up 5.87% since 2010. The city’s residents benefit from relatively short drives to numerous points of interest in the Detroit area. They city is served by I-94, I-696, M-3, and 9 Mile Road. The town is known for its high quality of life due to the demographics of a small town paired with local amenities and easy access to larger nearby cities. Residents enjoy close proximity to Lake St. Clair and Metropolitan Beach for outdoor activities. When Eastpointe residents aren’t at the beach or the lake, they enjoy several summer festivals and events including Summer Fest, Erin-Halfway Days Living Festival, and Music in the Park which features live music every Wednesday night at Spindler Park. For larger events including sporting events and concerts, the people of Eastpointe make the 20-minute drive into Detroit.

DETROIT, MI is the seat of Wayne County. The metropolitan area, known as Metro Detroit, is home to approximately 4.3 million people, making it the second largest in the Midwest. The Detroit MSA is the 14th largest in the U.S. The city of Detroit has a population of 639,111 people. It is a major port on the Detroit River, which is one of the four major straits connecting the Great Lakes to the Saint Lawrence Seaway. Detroit is known for its economy, music & arts, and strong city pride of their sports teams. The “Big Three” automobile manufacturers are all headquartered in Metro Detroit. These three are General Motors, Stellantis North America (Chrysler), and Ford. 296,000 of the jobs in Detroit involve some sort of manufacturing. Other major employers in downtown Detroit include Comerica, Fifth Third Bank, HP Enterprise, Deloitte, and KPMG.