Indianapolis, IN - Advance Auto Parts

Description:

• The tenant currently has 4 years remaining on their initial lease with 2 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 10% rental increases at the beginning of each option, growing NOI and hedging against inflation
• As of December 28, 2024, Advance operated 4,788 stores primarily within the United States, with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands

• The site ideally located in a dense retail corridor, with numerous nearby national/credit tenants including Aldi, Walmart Supercenter, Dollar Tree, Family Dollar, McDonald’s, Planet Fitness, and many more
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site
• The subject property is located roughly 10 minutes from Indianapolis Motor Speedway which holds a 257,000 capacity
• Furthermore, the asset is in close proximity to Cardinal Ritter High School
(636 students), Marian University (5,100 students), and Meredith Nicholson Elementary School 96 (381 students), increasing consumer traffic to the area