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Advance Auto Parts - Availability Details

8145 US Highway 2, Iron Mountain, MI 49801

  • For Sale $1,234,060
  • City Iron Mountain
  • Neighborhood Iron Mountain
  • Zip Code 49801
  • Property Type Retail - Freestanding
  • Property Size 7,000 Sqft
  • Lot Size 1.15 Acre
  • Property Tenancy Single Tenant
  • Year Built 2004
  • Date Updated 10 Jun, 2021
Prime Net Lease is pleased to exclusively offer this NNN lease Advance Auto Parts store located at 8145 US Highway 2, Iron Mountain, MI. The current lease has 4 years remaining, with three 5-year options to renew. The lease is guaranteed by Advanced Auto Parts Corporation (NYSE: AAP) which has over 4,843 locations and had revenues of over $9.7 Billion in 2019. Advance Auto Parts is situated on an outparcel of Home Deport and Walmart along US Highway 2. The parcel size is 1.15 acres. The subject property is located within the main retail corridor of Iron Mountain, drawing many residents to the area. Surrounding tenants include Home Depot, Walmart Supercenter, Dollar Tree, Arby’s, Burger King, Jimmy John’s and Tractor Supply. Iron Mountain is a city in the U.S. state of Michigan. The population was 7,624 at the 2010 census. It is the county seat of Dickinson County, in the state's Upper Peninsula. Iron Mountain was named for the valuable iron ore found in the vicinity. Iron Mountain is the principal city of the Iron Mountain, MI-WI Micropolitan Statistical Area, which includes all of Dickinson County, Michigan and Florence County in Wisconsin. Iron Mountain hosts a few points of interest such as the Millie Hill bat cave, The Cornish Pump, and is located adjacent to Pine Mountain ski jump/ski resort, one of the largest artificial ski jumps in the world. It shares Woodward Avenue with the neighboring town, Kingsford. In addition, Iron Mountain is known for its pasties, Bocce Ball Tournaments, World Cup Ski Jumps, and Italian cuisine.
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Contacts

broker

Paul Matusik

Prime Net Lease

(714) 875-2400

Highlights

  • Strong Tenant - 4,843 Corporate Locations, Advance Auto Parts is a publicly traded company (NYSE: AAP). $9.7 Billion in Revenues in 2019, which has been steadily increasing YOY.
  • Home Depot/Walmart Supercenter - The subject property is an outparcel to Home Depot and Walmart Supercenter and has remained open and has paid rent in full and on time every month throughout the mandatory stay-at-home orders given by the government at a result of the Covid-19 pandemic.
  • Highway Location - Superbly located with visibility along US Highway 2, the major thoroughfare in Iron Mountain.
  • Rental Increases - 7% Rental Increases every 5 years throughout the base term and option periods.
  • Minimal Landlord Responsibility - Triple Net Lease. Landlord is only responsible for the structure. There are no other Management responsibilities, perfect for buyers looking for a “hands-off” investment.

Frequently Asked Questions

What year was Advance Auto Parts built and finished?

Advance Auto Parts was completed in 2004.

Contact Listing Broker

broker

Paul Matusik

Prime Net Lease

(714) 875-2400

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