Advance Auto Parts

2795 Eastern Avenue - Plymouth WI 53073

LTV (Loan to Value)	65.00%	Current NOI	$0.00
Interest Rate	4.250%	Capital Rate	6.250%
Fixed Term	10 Years	Land Area	+/- 0.90 Acres
Amortization	25 Years	Lease Type	NNN
Loan Amount	$1,020,500.00	Property Type	Retail
Payment	$5,528.44	Property Lease	Automotive
Bulding Size	0 SF	Remaining Terms	Approx. 10 Yrs., 2 mos.

Location Description

NNN Lenders is pleased to offer this opportunity to acquire a rare NNN Advance Auto Parts in Plymouth, WI located only 45 minutes north of downtown Milwaukee. The store opened in 2010 with a brand new 15 year lease term and three, five-year renewal options. There are 10 years of primary term remaining with rent increases of 5.00% during each option. This is a rare NNN lease in that Tenant pays the majority of expenses, including roof, HVAC, and parking lot. Landlord is only responsible for the structure, slab, and foundation.

Highlights

Investment Grade Credit – Corporate lease with the parent company, Advance Stores Company, Inc, which is an investment grade tenant.…

Property Description

Plymouth is a town in Sheboygan County, Wisconsin, and a part of the Sheboygan MSA. The area is approximately 55 miles north of Milwaukee and 65 miles southeast of Green Bay, along Lake Michigan. The Sheboygan MSA consists of over 115,000 residents with over 13,956 people living within 5 miles of the subject site.The property is located along the strongest retail corridor in the area, Eastern Ave, right in the middle of the local auto dealerships (Chevy, Dodge, Chrysler, Jeep, GMC, and Buick). A large part of Advance’s business model is commercial sales to these dealers, so out positioning its only nearby competitor, Napa, is important. Eastern Ave connects local residents to Highway 57, which is a major state highway running between Green Bay and Milwaukee. The subject property shares an entrance with Walmart, sits next to Pick N Save (area’s dominant grocer), and is surrounded by Walgreens, McDonalds, Fleet Farm, Dairy Queen, Wells Fargo, BMO Harris, Culvers, Kwik Trip, Piggly Wiggly, Subway, Cousins, and Sears Hometown (former K-mart space).