Advance Auto Parts – Kalamazoo, MI

Back to your search results

Advance Auto Parts – Kalamazoo, MI

1037 Riverview Drive Kalamazoo MI Kalamazoo County

Sales Price: $835,851

Cap Rate: 6.75%

Lease Expiration: 12/31/2024

Contact Person(s): Maxwell Lippitt
Daniel Kukes
Jason Greenspan

Description:

CORPORATE GUARANTY to Advance Auto Parts Inc(NYSE: AAP), one of the nation’s largest and fastest growing automotive suppliers with 4,700+ locations and over 68,000 employees. Advance Auto reported record numbers in 2021 including:

  • Full Year Net Sales Increases 8.80% to $11.0 Billion
  • Comparable same store sales increased 10.70%
  • Operating Cash Flow increased 14.7%to $1.10 Billion.
  • Returned over $1.0 Billion in cash to shareholders

3 MILES FROM WESTERN MICHIGAN UNIVERSITY –A USA TOP 100 UNIVERSITY WITH 21,000+ STUDENTS AND 6,000+ FACULTY

1 MILE FROM DOWNTOWN KALAMAZOO –KALAMAZOO IS THE FASTEST GROWING CITY IN MICHIGAN WITH A 11.7% POPULATION INCREASES SINCE 2010

1999 CONSTRUCTION –FULLY RENOVATED IN 2012

LONG STANDING OPERATING HISTORY:

  • Tenant has been at this location since 1999 and has recently entered into their second option term. Tenant has 2 options remaining with 5% rent increases.

NN LEASE –LANDLORD ONLY RESPONSIBLE FOR ROOF & STRUCTURE

Building Size: 7,000 SF

Lot Size: 0.74 AC

Demographic Info:

Radius: 1 Mile 3 Mile 5 Mile
Population Density: 7,006 67,288 128,688
Avg. HH Income: $49,438 $61,717 $66,629

LANDMARK INVESTMENT SALES – Licensed Real Estate Brokers. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates are used for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction, the suitability of the property for your needs.