6125 Central AvePortage, IN 46368

Property Details for 6125 Central Ave

Year built

2004

Construction

TYPE NOT SPECIFIED

Lot size

0.96 AC

Property size (Sq ft)

6,900 SF

Property type

Retail properties

Property subtype

Retail space

APN

64-05-13-156-001.000-016

APU

640513156001000016

Description

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%.

Location Insight

City

Portage

County

Porter

State

Indiana

Latitude

41.5756

Longitude

-87.1782

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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