Net Leased Auto Parts
2230 Fort St Lincoln Park, MI 48146
For Sale
$1,723,000
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 Market46
Property Features for 2230 Fort St
General Information
- Standard status
- Active
- Size
- 6,157 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2010
Properties For Sale
at 2230 Fort St Contact us
Listing Agency:
SRS Real Estate Partners Newport Beach
(586) 549-4260
Listed By:
Michael Carter · License #6501369793
(586) 549-4260
Source:
Srsre
Added: Jun 9
Changed: Jul 23
Last Checked: Jul 24 at 4:33AM
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 Newport Beach
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
UPS Access Point ...
Courier Service
Advance Auto Parts
Auto Parts Store
FAQs
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
