1798 State Rd 163 Clinton, IN 47842-7327
- Retail space
- 6,889 SF
- 1.00 lot acres
Current Use by Public Records
- Retail space
Property Details for 1798 State Rd 163
- Year built
- 2004
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 1.00 lot acres
- Property size
- 6,889 SF
- Property type
- Retail space
- APN
- 83-13-17-400-002.002-001
- APU
- 831317400002002001
Description
This exceptional investment opportunity presents a 6,889 square foot Advance Auto Parts retail property located at 1798 East State Road 163, Clinton, Indiana, 47842. The property sits on a one-acre lot and is currently 100% occupied under a triple-net (NNN) lease with a corporate guarantee from Advance Auto Parts, a publicly traded company (NYSE: AAP). The lease commenced September 5, 2003, and has a remaining term of approximately 4.1 years, expiring December 31, 2028, with two 5-year renewal options. Rent increases are built in, with a 5% bump at the first option and a 10% increase at the second. The asking price is $1,219,685, representing a price per square foot of $177.05 and a strong 8.25% capitalization rate based on a net operating income (NOI) of $100,624. Advance Auto Parts boasts an investment-grade credit rating (BBB- from S&P and Baa2 from Moody's) and reported $11.3 billion in annual sales for 2023. The property benefits from a high-traffic location near major national retailers, including Walmart, Tractor Supply Co., and several fast-food restaurants, ensuring high visibility and consistent customer traffic. This is a secure, recession-resistant investment in a vital sector of the automotive aftermarket parts industry.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Clinton
- County
- Vermillion
- State
- Indiana
- Longitude
- -87.4293
- Latitude
- 39.657
- CBSA code
- 45460
- CBSA name
- TERRE HAUTE, IN METROPOLITAN STATISTICAL AREA
