525 Houk Rd Delaware, OH 43015

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.