Listing Summary
Lee & Associates is pleased to present the exclusive offering of a single-tenant Advance Auto Parts located at 1215 N Detroit Street in Warsaw, Indiana.
Full Description
Long-Term NNN Investment Secured by Advance Auto Parts
Lee & Associates is pleased to present the exclusive offering of a single-tenant Advance Auto Parts investment property located on N Detroit Street in Warsaw, Indiana.
The asset is secured by a corporate-guaranteed modified NNN lease with Advance Stores Company, Inc. (NYSE: AAP). The tenant demonstrates strong commitment to the site, having recently executed an early 10-year lease extension in 2024, extending the term through December 2034, with three remaining five-year options. The landlord's responsibilities are minimal, limited only to the building structure.
The 7,000-square-foot building on 0.83 acres benefits from an A+ location on N Detroit Street, the primary retail corridor (22,600+ VPD), with direct access to US Highway 30 (30,000+ VPD). The site is surrounded by powerful national retailers, including Walmart, Kroger, and Lowe's.
Warsaw, known as the "Orthopedic Capital of the World," boasts a robust economic foundation supported by global medical firms (Zimmer Biomet, DePuy Synthes), which provide over 13,000 jobs and $11 billion in annual revenue. The surrounding demographics are favorable, with over 37,500 residents and an average household income exceeding $98,000 within a five-mile radius.
This strategic asset is ideally positioned for long-term stability and is a solid investment within a stable, business-friendly MSA.
Quick Glance
- Listing ID:
CL-Indiana-27076
- Status:
Active
- Year Build:
2005
- Building Size:
7,000 SqFt
- Lot Size:
0.83 Acre