3483 Pierson Rd Flint, MI 48504-6905

Property Details for 3483 Pierson Rd

Lot size

0.90 lot acres

Property type

Commercial real estate

APN

14-34-100-004

APU

1434100004

Description

This exceptional investment opportunity presents a fee-simple ownership of a 10,000 square foot retail property in Flint, Michigan. The property is currently 100% occupied by a portfolio of nationally recognized auto parts retailers including AutoZone, Advanced Auto Parts, and O'Reilly Auto Parts, under a triple-net (NN+) lease with a corporate guarantee. The lease, which commenced in 1999, includes a recent 7-year extension, extending the term to October 31, 2031. The current annual net operating income (NOI) is $70,800, representing a 6.80% capitalization rate on the asking price of $1,041,176. The property sits on a 0.92-acre lot and features a single, one-story building. The lease includes three, five-year renewal options with a 6% rent increase in each option. The tenant, O'Reilly Auto Parts, boasts a significant market capitalization and investment-grade credit rating, providing exceptional financial stability and security. The property's prime location on Pierson Road, with high daily traffic volume exceeding 12,000 vehicles, and proximity to Interstate 75 ensures excellent visibility and accessibility. This is a rare opportunity to acquire a well-established, high-performing retail investment with a long-term lease, strong tenant, and significant upside potential. The property's resilience to economic downturns, demonstrated by its continued operation and rent payments throughout the COVID-19 pandemic, further enhances its investment appeal.