Net Leased Auto Parts
For Sale
$1,723,000
2230 Fort St, Lincoln Park, MI 48146
Fee simple NNN investment leased to Advance Auto Parts, NYSE: AAP, with 7+ years remaining and multiple 5-year options.
Property Size6,157 SF
Price / SF$279.84
Days on Market52
Property Features for 2230 Fort St
General Information
Standard status
Active
Size
6,157 SF
Property subtype
Retail
Building Details
Year Built
2010
Listing Agency:
SRS Real Estate Partners | Detroit
(586) 549-4260
Listed By:
Michael Carter · License #6501369793
(586) 549-4260
Source:
Srsre
Added: Jun 9
Changed: Jul 23
Last Checked: Jul 30 at 2:26AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SRS Real Estate Partners | Detroit
Investment Insights
Based on property information with market context.
SRS National Net Lease is pleased to offer the fee simple interest (land and building) in a net leased Advance Auto Parts property structured as NNN with minimal landlord responsibilities. The asset is leased to Advance Auto Parts, Inc., which is corporate guaranteed (NYSE: AAP). The tenant has successfully operated at the location for more than 17 years.
The lease includes more than 7 years remaining, along with three (5-year) extension options. Rental increases are scheduled at the beginning of each option period, with 7% increases intended to help hedge against inflation.
Located at 2230 Fort St in Lincoln Park, Michigan (Detroit MSA), this property is offered for sale as an automotive parts retail investment.
The lease includes more than 7 years remaining, along with three (5-year) extension options. Rental increases are scheduled at the beginning of each option period, with 7% increases intended to help hedge against inflation.
Located at 2230 Fort St in Lincoln Park, Michigan (Detroit MSA), this property is offered for sale as an automotive parts retail investment.
Key Highlights
- Fee simple NNN investment property leased to Advance Auto Parts, Inc. (NYSE: AAP)
- Tenant has 7+ years remaining on the lease with three (3) five‑year extension options
- Lease includes 7% rental increases at the beginning of each option period
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $88.7k | $14.40 |
| − Vacancy | −$5.3k | −$0.86 |
| EGI | $83.3k | $13.54 |
| − OpEx | −$25.0k | −$4.06 |
| NOI | $58.3k | $9.48 |
6,157 SF · lease $14.40/SF/yr · vacancy 6.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$833.4K
$729.2K – $972.3K
NOI $58,339 @ 7.0% cap · market cap 3.39%
Second Best
Industrial
$455.4K
$398.4K – $531.3K
NOI $31,875 @ 7.0% cap · market cap 1.85%
Theoretical Best
Specialty Retail
$1.14M
$997.4K – $1.33M
NOI $79,795 @ 7.0% cap · market cap 4.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
581
Businesses Nearby
119k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Groceries 22%
Shops & Services 22%
Electronics 1%
Tim Hortons
Dining
21,231 visits/mo
0.4 miles
Aldi
Groceries
18,061 visits/mo
0.5 miles
Taco Bell
Dining
14,847 visits/mo
0.5 miles
White Castle
Dining
13,506 visits/mo
0.3 miles
Save-A-Lot
Groceries
8,574 visits/mo
0.5 miles
Demographics for 48146, MI
40,245
Population
15,874
Households
2.5
Avg Household Size
37
Median Age
11%
College-Educated
81%
High-School Grad
5.8 sq mi
ZIP Area
6,939
Density / Sq Mi
$57,183
Median Household Income
$36,886
Median Earnings
$972
Median Rent
$117,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Fee simple NNN investment leased to Advance Auto Parts, NYSE: AAP, with 7+ years remaining and multiple 5-year options.
Where is this nnn property located?
The property is located at 2230 Fort St Lincoln Park, MI.
What is the asking price?
The asking price for this property is $1,723,000.
What are key features of this property?
This property features: Fee simple NNN investment property leased to Advance Auto Parts, Inc. (NYSE: AAP); Tenant has 7+ years remaining on the lease with three (3) five‑year extension options; Lease includes 7% rental increases at the beginning of each option period
