For Sale
$1,830,240

6125 Central AvePortage, IN 46368

7,000 SF Net Lease Auto Shop, 7.5% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
117
This fee-simple investment opportunity presents a 7,000-square-foot Advance Auto Parts store in Portage, Indiana. The property, built in 2004 and situated on a 0.96-acre lot, boasts a strong 20-year operating history with a recently exercised lease extension through December 31, 2029. This highly passive net lease minimizes landlord responsibilities, encompassing only the building's structure, slab, and foundation. The lease includes a 5% rental increase at each option period, providing consistent income growth. The property enjoys a prime location on Central Avenue (14,000 vehicles per day), benefiting from high visibility and proximity to Interstate 90. This thriving retail corridor features numerous national retailers, including other auto parts stores, enhancing the property's value and appeal. The property also benefits from its proximity to a 300-unit apartment complex and a one-mile average household income exceeding $103,000. The property includes 45 parking spaces and generates a Net Operating Income (NOI) of $137,268, representing a 7.50% capitalization rate. This investment offers a stable, long-term income stream with significant upside potential. The current occupancy is 100%.

Highlights

  • $1,830,240 asking price for a fee-simple interest in a 7,000 SF Advance Auto Parts retail building.
  • Net lease with a 5.4-year remaining term expiring December 31, 2029, including three 5-year renewal options with 5% rent increases each.
  • 7.50% cap rate with a $137,268 net operating income (NOI).
  • Located in a high-traffic retail corridor in Portage, IN, near I-90 and a 300-unit apartment complex.
  • Strong location with a 20-year operating history and ongoing sales reporting requirements.
  • Highly passive net lease with landlord responsibility limited to building structure; 0.96-acre lot with 45 parking spaces.

Property Details for 6125 Central Ave

Property type
Retail properties, Auto shops
Square Feet
7,000 SF
Year Built
2004
Lot Size (sq. ft)
41,818 SF

Location Insight

City
Portage
County
Porter
State
Indiana
Latitude
41.5754151
Longitude
-87.1783618
6125 Central Ave, Portage, Indiana

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6125 Central Ave
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