Advance Auto Parts – Big Rapids, MI

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Advance Auto Parts – Big Rapids, MI

712 Perry Ave Big Rapids MI Mecosta County

Sales Price: $1,020,878

Cap Rate: 6.50%

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

EXCELLENT RETAIL LOCATION

  • Subject Property is an outlot to Sattler’s Square –a well performing power center with tenants such as Big Lots, Dunham’s, Tractor Supply Co, Maurices, Shoe Sensation, etc.
  • Other surrounding retailers on Perry Ave include Walmart, Meijer, Menards, Lowe’s, Aldi, Marshalls, JOANN, Planet Fitness, etc.
  • US 131 –Big Rapids’ retail corridor is directly off of US 131 (x VPD), one of the primary north south highways in Michigan.

FERRIS STATE UNIVERSITY:

  • Subject property is one mile from Ferris State University –a top ten university in Michigan with over 14,560 students.

NN LEASE –LANDLORD ONLY RESPONSIBLE FOR ROOF & STRUCTURE

Building Size: 6,848SF

Lot Size: 0.74 AC

Demographic Info:

Radius: 1 Mile 3 Mile 5 Mile
Population Density: 4,804 12,697 16,835
Avg. HH Income: $49,520 $53,102 $59,191

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.