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Advance Auto Parts

$1,442,154

504 South Heaton Street, Knox, IN 46534

Active
Last Updated: 09/15/2025

7.75

Cap Rate

111,767

NOI

Details:
Cap Rate:    7.75%
NOI:    $111,767
Building Size:    6,860 sqft
Lot Area:    0.85 acres
Year Built:    2006
Highlights:
  • Long-Term Commitment to the Site with the Tenant Having Nearly 20 Years at this Location
  • Lease Supports Three (3), 5-Year Renewal Options with 5% Rent Increases in Each Option
  • Situated Within a Retail Corridor and Surrounded by National Retailers Including Burger King, McDonald's, Taco Bell, Tractor Supply Co, Subway and O'Reilly Auto Parts
  • Easily Accessible with Multiple Points of Access and Ample Parking
  • Corporate Guarantee | NYSE: AAP | S&P 600 Component
  • Average Household Income Exceeds $74,000 within a 5-Mile Radius of the Subject Property
Description:

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Knox is a city in Center Township, Starke County, Indiana. Knox County was founded in 1790 along the banks of both the Wabash and White Rivers. The county's agriculture industry is #2 in the country for watermelon production and boasts acre upon acre of family farms. The city and county are in northwest Indiana, a region that is connected to larger metropolitan areas like Chicago but remains separate from them.

Knox is located approximately 40 miles southwest of South Bend, Indiana. South Bend is a city in St. Joseph County, Indiana. and its county seat. It lies along the St. Joseph River near its southernmost bend, from which it derives its name. It is the fourth-most populous city in Indiana with a population of 103,453 at the 2020 census. Located directly south of Indiana's northern border with Michigan, South Bend anchors the broader Michiana region. Its metropolitan area had a population of 324,501 in 2020, while its combined statistical area had 812,199 residents.

Today, the largest industries in South Bend are health care, education, small business, and tourism. The city is home to manufacturer AM General and financial services company 1st Source. A major draw for visitors is the nearby University of Notre Dame, which also plays an important role in the local economy and culture. The city is served by the South Bend International Airport and by the South Shore Line commuter railway, connecting South Bend to downtown Chicago, which is 72 miles to the west.

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