Advance Auto Parts

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Advance Auto Parts

1205 N. Court Street Medina OH Medina County

Sales Price: $1,285,714

Cap Rate: 7.00%

Lease Expiration: 5/31/2025

Contact Person(s): Daniel H. Kukes
Maxwell E. Lippitt
Kevin J. Baker
Jason M. Greenspan

Description:

STRONG CREDIT TENANT

  • Lease is backed by a publicly traded (NYSE: AAP), corporate entity with 4,900+ locations and $9.60B in annual revenue.

RECENT LEASE RENEWAL

  • Tenant has demonstrated their commitment to the location by signing a new 5 year lease renewal which begins in July 2020.

RENOVATION & REDEVELOPMENT

  • This building was extensively renovated as an Advance Auto Parts store in 2010 at the beginning of their original lease term.
  • Advance Auto sits as a pad to Medwick Marketplace, a large Marc’s grocery anchored center. While the center has a large vacant big box, it is also prime for redevelopment.

Building Size: 6,000 SF

Lot Size: 1.42 acres

Demographic Info:

Radius: 1 Mile 3 Mile 5 Mile
Population Density: 7,827 31,775 56,778
Avg. HH Income: $74,752 $86,152 $96,682

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.