1215 N Detroit St, Warsaw, IN for sale

Investment Overview

Lee & Associates is pleased to present the exclusive offering of a single-tenant Advance Auto Parts located at 1215 N Detroit Street in Warsaw, Indiana. The tenant, Advance Stores Company, Inc. (NYSE: AAP), operates under a corporate guaranteed lease and has demonstrated long-term commitment to the site, having operated at this location since 2005. A recent early 10-year lease extension, executed in 2024, extends the term through December 2034, with three additional five-year options remaining. The lease is structured as modified NNN with landlord responsibilities limited to structure only. Warsaw is widely recognized as the Orthopedic Capital of the World, anchored by global leaders Zimmer Biomet, DePuy Synthes, and Paragon Medical. These firms support over 13,000 jobs and contribute more than $11 billion in annual revenue, reinforcing the city’s robust economic foundation. The surrounding demographics are favorable, with over 37,500 residents and an average household income exceeding $98,000 within a five-mile radius. Located within the Elkhart-Goshen MSA and just 41 miles from Fort Wayne, the asset is ideally positioned within a stable, business-friendly community that supports long-term tenancy and investment performance.