286 Grant Ave Auburn, NY 13021
- Retail properties
Current Use by Public Records
- UPS Access Point location / Shipping And Mailing Service / Mailing Service
- Advance Auto Parts / Car Battery Store / Tool Rental Service
Property Details for 286 Grant Ave
- Year built
- 2002
- Property type
- Retail properties
- Property subtype
- Auto shops
Description
This exceptional investment opportunity presents a portfolio of seven Advance Auto Parts stores strategically located throughout New York State. Each property benefits from a triple-net (NNN) lease structure, minimizing landlord responsibilities and maximizing passive income. The portfolio boasts a total of seven buildings, all constructed in 2002 and currently operating at 100% occupancy. The leases feature a substantial remaining term of approximately 7.1 years, extending to December 31, 2031, with built-in rent bumps of 9% providing significant future growth potential. The portfolio generates a substantial net operating income (NOI) of $640,926, yielding an attractive 6.75% capitalization rate. The corporate guarantee provided by Advance Auto Parts ensures financial stability and minimizes risk. Each lease includes two five-year renewal options, further enhancing the long-term value of this investment. The portfolio's seven locations are spread across various New York counties, including Cayuga, Jefferson, Onondaga, St. Lawrence, Oswego, Oneida, and Jefferson, ensuring geographic diversification. Specific addresses include: 286 Grant Ave, Auburn, NY 13021
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Auburn
- County
- Cayuga
- State
- New York
- Longitude
- -76.544
- Latitude
- 42.9537
