Advance Auto Parts
PRICE
CAP RATE
SQUARE FOOTAGE
LEASE TERM

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Abraham Leon

Senior Advisor

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PROPERTY ADDRESS

1016 W Main St., Fremont, MI 49412

PROPERTY INFORMATION

Price:
$828,407
Cap Rate:
7.85%
Term Remaining:
5 Years
Status:
Available

INVESTMENT HIGHLIGHTS

  • 7000 SF Advance Auto Parts Store on 1.65 Acres
  • 5+ Years remaining on the extended term
  • Long time tenant with an 8 year lease extension in 2015 showing dedication to the location
  • Lease is equipped with (2) Additional Five Year Options w/ increase
  • Lease is Corporately Guaranteed by Advance Auto Parts, Inc.
  • NN Lease with Minimal Landlord Responsibilities

INVESTMENT SUMMARY

Fortis Net Lease is pleased to present this free-standing Advance Auto Parts in Fremont, MI with an 18 year operating history at this location. The 10 Year Lease Commenced in June of 1999 and there are just over 5 years remaining on the exercised 8 year lease extension. There are Two (2) remaining Five (5) year options both with significant rental increases. The lease for this property has a corporate guarantee with an S&P rating of “BB+”.

The subject property is located along the major retail corridor in Fremont, MI with other tenants including a Walmart Superstore, McDonalds, Walgreens, Rite Aid, Ace Hardware, Taco Bell, Arby’s, Burger King, DaVita Dialysis, Anytime Fitness, and many more. Additionally in the immediate area is the Gerber Products Company facility, Chevrolet and Ford dealerships, and local area medical and hospital facilities.