June 5, 2019 Comments Off on Net-Leased Auto Parts Shop Hits Market in West Ridge Views: 211 Chicago News, North Side

Net-Leased Auto Parts Shop Hits Market in West Ridge

B+E, an online brokerage platform specializing in net lease, is marketing an Advance Auto Parts property in the North Side’s West Ridge neighborhood. The property at 3016 W. Peterson Ave. is listed for $2.4 million.

The building is approximately 7,040 square feet on roughly 0.43 acres of land and includes parking. The property carries a cap rate of 5.85%, with a remaining lease term of eight years and eight months.

“Advance Auto Parts is a $9.5-billion leader in the auto parts market,” said Tim Hain with B+E.  “There are over 400,000 people within three miles of the property and over two million residents living within a 10-mile radius of the property.”

Notable surrounding tenants include Walgreens, Bank of America, Starbucks, Target, T.J. Maxx, Chipotle Mexican Grill and Potbelly Sandwich Shop.

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