Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire an Advance Auto Parts in Muskegon, MI, part of the Grand Rapids metro area. This opportunity offers a long-term corporate guaranteed lease with four, five-year tenant renewal options. Advance Auto Parts recently renewed the lease showing a strong commitment to the location. Advance Auto Parts has operated from this location for over 24 years. Advance Auto Parts, Inc. is one of the leading north American retailers of automotive aftermarket parts that serves both professional installers and do-it-yourself customers. as of April 22, 2023, Advance Auto Parts operates 4,778 stores and Worldpac branches in the United States, Canada, Puerto Rico and the U.S. Virgin Islands. Advance Auto’s first quarter net sales increased by 1.3% to $3.4 billion with an operating income of $90 million. The surrounding area has exceptional demographics with a population of nearly 100,000 in five miles of the Subject Property. The Muskegon Metro Area has a population of nearly 200,000. Muskegon is also part of the larger Grand Rapids-Kentwood-Muskegon combined statistical area (CSA) with a population of nearly 1.5 million. Grand Rapids-Kentwood-Muskegon is the second largest CSA in the state of Michigan (behind metro Detroit). Located in a high traffic area, this Advance Auto Parts is an outparcel to The Home Depot and Aldi Supermarket, located off the intersection of Henry Street and Sherman Boulevard with a combined traffic count of more than 40,000 vehicles daily, and off Highway 31 with more than 30,000 vehicles daily in the immediate area. Surrounding national brands include Walmart Supercenter, Meijer Supermarket, Gordon Food Service Store, Planet Fitness, West Marine, Dollar Tree, Family Dollar, McDonald’s, Burger King, Taco Bell, Chipotle, Chili’s Grill & Bar, Domino’s Pizza, Cricket Wireless, AT&T Store, Boost Mobile, Sherwin-Williams Paint Store, Speedway, Chase Bank, PNC Bank, Walgreens, Rite Aid, Chevrolet, Honda, Chrysler, Jeep and many more.