Advance Auto Parts - Net Lease Property for Sale
Rock Island, IL
Key Investment Metrics
Price
$1,451,000
Cap Rate
7.2%
Net Operating Income
$103,728
Building Size
7000 SF
Lot Size
7,000 SF
Land Area
0.84 Acres
Remaining Term
10 years
Lease Expiration
12/31/2035
Lease Term
28.9 years
Lease Commencement
01/30/2007
Lease Type
NN
Tenant Credit
Corporate Guarantee
Year Built
2006
Occupancy
100%
Tenancy
Single
Rent Increases
18% in 1st Option, 7% in 2nd, 6% in 3rd
About This Advance Auto Parts Net Lease Property
This Advance Auto Parts NNN (triple net lease) property is located in Rock Island, IL and represents an excellent investment opportunity for commercial real estate investors. The property features 7000 square feet of building space and was built in 2006.
With a cap rate of 7.2%, this Advance Auto Parts net lease property offers stable income potential. The asking price is $1,451,000, making it an attractive option for 1031 exchange investors seeking quality Advance Auto Parts commercial properties.
Why Invest in Advance Auto Parts NNN Properties?
- Stable Income: Advance Auto Parts net lease properties provide predictable cash flow with minimal landlord responsibilities.
- Strong Tenant: Advance Auto Parts is a nationally recognized brand with proven operational success.
- 1031 Exchange Eligible: This property qualifies for 1031 tax-deferred exchanges, allowing investors to defer capital gains taxes.
- Triple Net Lease: The tenant is responsible for property taxes, insurance, and maintenance, reducing landlord obligations.
Rock Island, IL Market Overview
Located in Rock Island, IL, this Advance Auto Parts property benefits from strong local demographics and market fundamentals. The Rock Island area offers excellent visibility and accessibility, making it an ideal location for Advance Auto Parts operations and a solid investment for net lease property buyers.