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Auto Parts

Advance Auto Parts

225 Milan Ave, Norwalk, OH 44857

Listing Price: $1,203,000

Cap Rate
6.75%
Tenant Name
Advance Auto Parts
Years Remaining On Lease
7.5
Gross SF
7,000
Guarantor
Corporate Guarantee
Rentable SF
7,000
Price/Gross SF
$171.86
Lease Type
Double Net
Rent Per Square Feet
$11.60

Investment Overview

Marcus & Millichap is pleased to bring to market Advance Auto Parts in Norwalk, Ohio.

Investment Highlights

  • Advance Auto Parts Double-Net Lease with 7.75 Years Remaining in Norwalk, Ohio (Cleveland MSA)
  • Outparcel to Walmart Supercenter with Large Trade Area – Only Walmart or Big-Box Retailer within 11 Miles
  • 2001 Build-to-Suit with 10-Year Original Lease; 20-Year History at the Site with Three Renewals
  • Just Early Extended Lease for Five Years thru December 2028 Showing Strong Commitment to Site
  • Right in the Middle of the Primary Retail Corridor with Adjacent Retailers & Restaurants Including Aldi, Big Lots, Dollar Tree, Tractor Supply Co., Discount Drug Mart, McDonald's, KFC, Wendy's, Pizza Hut, Taco Bell, Arby's, Bob Evans, and More
  • Norwalk is the County Seat of Huron County and Has a Regional Draw from Numerous Smaller Surrounding Towns –Market Population of 60,000
  • Investment-Grade Tenant Carrying S&P "BBB-" Credit Rating
  • Strong Intrinsic Value in the Land & Building Given Infill Retail Corridor, Prime Walmart Outparcel Location, Excellent Visibility, Large Parcel, and Easily Retrofit Rectangular Box

Exclusively Listed By

Listing Price: $1,203,000

Cap Rate
6.75%
Tenant Name
Advance Auto Parts
Years Remaining On Lease
7.5
Gross SF
7,000
Guarantor
Corporate Guarantee
Rentable SF
7,000
Price/Gross SF
$171.86
Lease Type
Double Net
Rent Per Square Feet
$11.60

Investment Highlights

  • Advance Auto Parts Double-Net Lease with 7.75 Years Remaining in Norwalk, Ohio (Cleveland MSA)
  • Outparcel to Walmart Supercenter with Large Trade Area – Only Walmart or Big-Box Retailer within 11 Miles
  • 2001 Build-to-Suit with 10-Year Original Lease; 20-Year History at the Site with Three Renewals
  • Just Early Extended Lease for Five Years thru December 2028 Showing Strong Commitment to Site
  • Right in the Middle of the Primary Retail Corridor with Adjacent Retailers & Restaurants Including Aldi, Big Lots, Dollar Tree, Tractor Supply Co., Discount Drug Mart, McDonald's, KFC, Wendy's, Pizza Hut, Taco Bell, Arby's, Bob Evans, and More
  • Norwalk is the County Seat of Huron County and Has a Regional Draw from Numerous Smaller Surrounding Towns –Market Population of 60,000
  • Investment-Grade Tenant Carrying S&P "BBB-" Credit Rating
  • Strong Intrinsic Value in the Land & Building Given Infill Retail Corridor, Prime Walmart Outparcel Location, Excellent Visibility, Large Parcel, and Easily Retrofit Rectangular Box

Investment Overview

Marcus & Millichap is pleased to bring to market Advance Auto Parts in Norwalk, Ohio.

Exclusively Listed By

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