For Sale
$1,819,126

525 Houk RdDelaware, OH 43015

7,000 SF Advance Auto Parts; 7.55% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 7,000 square foot Advance Auto Parts store located at 525 North Houk Road, Delaware, Ohio, 43015. The property sits on a 0.98-acre lot and boasts a strong 7.55% cap rate, generating a net operating income (NOI) of $137,344. The property features a triple-net (NNN) lease with a corporate guarantee from Advance Auto Parts, a publicly traded company (NYSE: AAP) with an investment-grade credit rating (BBB- S&P, Baa2 Moody's) and over $11.3 billion in annual sales (2023). The lease commenced February 27, 2008, and has a remaining term of approximately 3.7 years, expiring July 31, 2028, with two 5-year renewal options at a 5% rent increase. Built in 2008, this single-tenant property enjoys 100% occupancy and benefits from its high-traffic location directly off W Central Ave, experiencing over 15,000 vehicles daily. The surrounding area is thriving, with a population exceeding 107,195 residents within a 10-mile radius and an average household income of $158,910. The property's location near other national brands like Kroger, Planet Fitness, and others further enhances its appeal. This is a secure, recession-resistant investment in a vital sector of the automotive aftermarket parts industry. The asking price is $1,819,126, translating to $259.88 per square foot.

Highlights

  • Over 3 years remaining on a corporate-guaranteed triple-net (NNN) lease.
  • Located in a thriving Delaware, OH community with strong demographics.
  • Excellent visibility and high traffic count (15,000+ VPD) on W Central Ave.
  • Investment-grade tenant (Advance Auto Parts) with $11.3B in annual sales (BBB- S&P, Baa2 Moody's).
  • Strong, established tenant (Advance Auto Parts) with over 4,700 stores nationwide.
  • Publicly traded company (NYSE: AAP) founded in 1932, employing over 65,000.

Property Details for 525 Houk Rd

Property type
Retail properties, Auto shops
Square Feet
7,000 SF
Year Built
2008
Lot Size (sq. ft)
42,689 SF

Location Insight

City
Delaware
County
Delaware
State
Ohio
Latitude
40.310944475432
Longitude
-83.109412387222
525 Houk Rd, Delaware, Ohio

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
525 Houk Rd
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message