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Advance Auto Parts

8145 US Highway 2, Iron Mountain, MI 49801

  • For Sale $1,234,060
  • Property Type Retail - Freestanding
  • Property Size 7,000 SF
  • Lot Size 1.15 Acre
  • Property Tenancy Single Tenant
  • Year Built 2004
  • Date Updated May 03, 2022
Prime Net Lease is pleased to exclusively offer this NNN lease Advance Auto Parts store located at 8145 US Highway 2, Iron Mountain, MI. The current lease has 4 years remaining, with three 5-year options to renew. The lease is guaranteed by Advanced Auto Parts Corporation (NYSE: AAP) which has over 4,843 locations and had revenues of over $9.7 Billion in 2019. Advance Auto Parts is situated on an outparcel of Home Deport and Walmart along US Highway 2. The parcel size is 1.15 acres. The subject property is located within the main retail corridor of Iron Mountain, drawing many residents to the area. Surrounding tenants include Home Depot, Walmart Supercenter, Dollar Tree, Arby’s, Burger King, Jimmy John’s and Tractor Supply. Iron Mountain is a city in the U.S. state of Michigan. The population was 7,624 at the 2010 census. It is the county seat of Dickinson County, in the state's Upper Peninsula. Iron Mountain was named for the valuable iron ore found in the vicinity. Iron Mountain is the principal city of the Iron Mountain, MI-WI Micropolitan Statistical Area, which includes all of Dickinson County, Michigan and Florence County in Wisconsin. Iron Mountain hosts a few points of interest such as the Millie Hill bat cave, The Cornish Pump, and is located adjacent to Pine Mountain ski jump/ski resort, one of the largest artificial ski jumps in the world. It shares Woodward Avenue with the neighboring town, Kingsford. In addition, Iron Mountain is known for its pasties, Bocce Ball Tournaments, World Cup Ski Jumps, and Italian cuisine.
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Location

  • Walk Score ® Car-Dependent (30)
  • Bike Score ® Somewhat Bikeable (37)
Powered by Walk Score ®
  • City Iron Mountain, MI
  • Neighborhood Iron Mountain
  • Zip Code 49801

Points of Interest

Murphy USA

0.20 miles

Holiday

0.81 miles

Krist

1.34 miles

Krist

1.76 miles

BP

2.21 miles

Cenex

4.78 miles

BP

5.90 miles

Krist

6.15 miles

ChargePoint

6.28 miles

Norway Quick Stop

6.66 miles

Jimmy John's

0.08 miles

Culver's

0.11 miles

Storheim's Family Rstaurant

0.12 miles

McDonald's

1.32 miles

Wendy's

1.52 miles

Carlos Cantina

1.68 miles

Greanleaf's Grille

1.69 miles

Subway

1.77 miles

Burger King

1.79 miles

Hardee's

1.81 miles

Walmart Supercenter

0.22 miles

Kmart

0.45 miles

EconoFoods

0.85 miles

Super One Foods

1.38 miles

Midtown Mall

1.41 miles

Shopko

1.93 miles

Contacts

Paul Matusik

Prime Net Lease

(714) 875-2400

Highlights

  • Strong Tenant - 4,843 Corporate Locations, Advance Auto Parts is a publicly traded company (NYSE: AAP). $9.7 Billion in Revenues in 2019, which has been steadily increasing YOY.
  • Home Depot/Walmart Supercenter - The subject property is an outparcel to Home Depot and Walmart Supercenter and has remained open and has paid rent in full and on time every month throughout the mandatory stay-at-home orders given by the government at a result of the Covid-19 pandemic.
  • Highway Location - Superbly located with visibility along US Highway 2, the major thoroughfare in Iron Mountain.
  • Rental Increases - 7% Rental Increases every 5 years throughout the base term and option periods.
  • Minimal Landlord Responsibility - Triple Net Lease. Landlord is only responsible for the structure. There are no other Management responsibilities, perfect for buyers looking for a “hands-off” investment.

Frequently Asked Questions

What is the total square footage of Advance Auto Parts?

Advance Auto Parts totals 7,000 square feet.

When was this property built?

Advance Auto Parts was built in 2004.

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Contact Listing Broker

Paul Matusik

Prime Net Lease

(714) 875-2400

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