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Advance Auto Parts - New 10 Year Lease Term 643 E Washington St

8,052 SF Retail Building New Castle, PA 16101 $1,119,758 CAD ($139 CAD/SF) 7.48% Cap Rate

Retail Buildings Pennsylvania New Castle 643 E Washington St, New Castle, PA 16101

Investment Highlights

  • New Lease Extension - 10 Year Term - Expiration 12/31/2034
  • 26 Years of Tenancy - Proven Location
  • Very Low Rent - Only $7.07/Foot Annual
  • 7.25% Cap Rate at List Price
  • Corporate Lease with NYSE Company - AAP
  • Close to 50,000 residents within 5 miles.

Executive Summary

Price Reduced! Marcus & Millichap is proud to present this Newly Extended Corporate Advance Auto Parts in a proven location. The tenant has already occupied this location for 26 years and recently extended their lease creating a firm 10 year term with new expiration date of 12/31/2034. The property was built in 1993 and features 8,173 Square feet on a large lot of over 31,000 square feet. The site is located at the corner of Spruce Street and East Washington Street. East Washington Street is also known as "Route 65" or alternatively as "65th Infantry Division Memorial Highway." This major thoroughfare starts in New Castle and runs over 50 miles to the heart of Pittsburgh. The city of New Castle is located in the very Western quadrant of Pennsylvania and is very close to the Border with Ohio. Youngstown Ohio is a mere 18 miles away. The population within a 5 mile radius of the subject exceeds 46,000 residents and projected to be stable in years to come.

Attachments

AAP New Castle PA 9-4-24

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
8,052 SF
Building Class
C
Year Built
1993
Price
$1,119,758 CAD
Price Per SF
$139 CAD
Cap Rate
7.48%
NOI
$83,758 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.25
Lot Size
0.75 AC
Opportunity Zone
Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning
C1 - a zoning classification that allows for a variety of businesses to serve a local neighborhood
Parking
31 Spaces (3.97 Spaces per 1,000 SF Leased)
Frontage
147 ft on U.S. 422 Business

Amenities

  • Signage

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease End
  • Wholesaler
  • -
  • -
  • -

CARQUEST Auto Parts est détenue et exploitée par Advance Auto Parts, Inc., le plus important fournisseur de pièces de rechange pour automobiles en Amérique du Nord, qui dessert à la fois les marchés des bricoleurs et des installateurs professionnels. En date du 4 octobre 2014, Advance exploitait 5 305 magasins et 109 succursales Worldpac et desservait environ 1 350 magasins indépendants de marque Carquest dans 49 États, à Porto Rico, aux îles Vierges et au Canada. Advance emploie environ 75 000 membres de l'équipe.

Tenant Industry SF OCCUPIED RENT/SF Lease End
Wholesaler - - -
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643 E Washington St, New Castle, PA - aerial map view

Nearby Major Retailers

Huntington National Bank
PNC Bank
The YMCA

PROPERTY TAXES

Parcel Number 04-029700 Improvements Assessment $527,073 CAD
Land Assessment $115,148 CAD Total Assessment $642,221 CAD

PROPERTY TAXES

Parcel Number
04-029700
Land Assessment
$115,148 CAD
Improvements Assessment
$527,073 CAD
Total Assessment
$642,221 CAD
(310) 408-4364

Contacts

  • Listing ID: 32161909

  • Date on Market: 2024-06-17

  • Last Updated:

  • Address: 643 E Washington St, New Castle, PA 16101

The Retail Property at 643 E Washington St, New Castle, PA 16101 is currently available for sale. Contact Marcus & Millichap for more information.

Retail PROPERTIES IN NEARBY NEIGHBORHOODS

Nearby Listings

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Advance Auto Parts - New 10 Year Lease Term | 643 E Washington St
(310) 408-4364 x

Advance Auto Parts - New 10 Year Lease Term | 643 E Washington St

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Joseph Linkogle

(310) 408-4364

(310) 408-4364

Timothy Stephenson

(331) 228-9188

(331) 228-9188

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