Advance Auto Parts

Mount Vernon, Ohio

Offering Summary

  • Status: active
  • Price: $1,495,000
  • Cap Rate: 7.00%
  • Current Annual Rent: $104,650
  • Net Operating Income: $104,650
  • Price/SF: $213.57
  • Year(s) Built: 2005
  • Lot Size (Acres): 1.1745
  • Lease Type: NNN
  • Major Tenants: Advance Auto Parts
  • Single Tenant 7,000 Square Foot Advance Auto Parts in Mt Vernon, OH
  • 100% Occupied By Advance Auto Parts, Inc. (NYSE: AAP) – Publicly Traded With Over 4,285 Locations
  • Long-Term NNN Lease With Tenant Responsible For All Maintenance, Repairs, Taxes, Insurance, And Utilities
  • Recent 10 Year Renewal Ending in December 2035 With Two 5-Year Renewal Options
  • Strong Rent To Sales of 6.4%
  • Large Parcel Size of 1.17 Acres
  • Located within Regional Retail Corridor Amongst Major Traffic Drivers Walmart, Kroger, Lowe’s, Rural King, Aldi, Planet Fitness, Bealls, Tractor Supply Co, Harbor Freight Tools, and More
  • Extremely Strong Retail Corridor – 1.1 Million SF of Retail with 99.5% Occupancy Along 1.3-Mile Stretch of Route 36/Coshocton Ave
  • Located Along Route 36/Coshocton Avenue – 22,470 Vehicles Per Day
  • Concentrated Population Density with 29,160/5-Mi Population (45% of MSA Population is within a 5-Mi Radius of Property)
  • Growing Population With Steady Projected Growth Through 2029 – Average Household Income Of $74,233 Within 5 Miles
  • Mount Vernon – County Seat of Knox County and Principal City of the Mount Vernon MSA with a Population of 63,000
  • Major Employers in Knox County Include Ariel Corporation, Knox Community Hospital, Kenyon College, Knox County, Jeld-Wen, Kokosing Construction, and More
  • Located 40 Miles Northeast Of Columbus, Benefiting From Central Ohio’s Strong Economic Growth
  • Part of the Larger Columbus-Marion-Zanesville CSA with a Population of 2.65 Million; Central Ohio is One of the Fastest Growing Regions in the Midwest
EXCLUSIVELY LISTED BY:

Craig Fuller

Senior Managing Director