6125 Central Ave Portage, IN 46368
7,000 SF Net Lease Auto Shop, 7.5% Cap Rate
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 139
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
Nearby Similar for Sale
FAQs
- What type of property is this?
- Retail property - 7,000 SF Net Lease Auto Shop, 7.5% Cap Rate
- Where is the retail property located?
- The property is located at 6125 Central Ave Portage, IN.
- What is the asking price?
- The asking price for this property is $1,830,240.
- What are key features of this property?
- This property features: $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).
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