AutoZone

1420 North Main Street, Orrville, OH 44667

$2,080,000

Cap Rate 5.25%

Views: 81 DOM: 211 Updated: 05.06.24 Posted: 10.19.23 Status: Active

Summary

Price $2,080,000	Built/Renov 2007	Tenant AutoZone
Cap Rate 5.25%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 6,786	Lease Start 01-01-2008	#Units 6,943
Price/SF $306.51	Expiration 01-31-2033	Tenant Type Automotive
NOI $109,200	R. Term 8.8	Ownership Fee Simple
Rent/SF $16.09	Increases 10.0%/10/yrs	Pop 5Mi 18,562
Lot/AC 0.87	Options 4/5yrs/10%	AHHI 5Mi $84,245

Lease Highlights

AutoZone has been operating in this location since 2008
Tenant has over 9 years remaining on the current lease term with 4 (5-year) options to extend
Lease features 10% rental increase at the beginning of each option period
Absolute NNN | Zero landlord responsibilities
Corporate guarantee by AutoZone, Inc. (NYSE: AZO)

Location Description

AutoZone is strategically positioned with excellent access and visibility along N. Main St. which sees in excess of 19,500 vehicles passing by daily. The site is surrounded by many neighboring tenants including O’Reilly Auto Parts, Taco Bell, Zephyrs Fitness, Family Dollar and more, creating a strong drive to the immediate trade area. In addition, it is within close proximity to Smucker’s...

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Key Features

Build to suit
In location for years
Major thoroughfare
Near major nationals
Strategically located
Affluent suburb location
Long operation history
Absolute NNN
Traded and rated company
Investment grade tenant

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Links

AutoZone Wikipedia AutoZone Wikipedia Orrville, Ohio Zip Code 44667 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: AutoZone
Guarantor:Corp T and Rated
Company:AutoZone, Inc.
# Units:6,943
Tenant S&P: BBB
Moody’s: Baa1
Stock: NYSE: AZO

About Tenant

AutoZone, Inc. is an American retailer of aftermarket automotive parts and accessories, the largest in the U.S. Founded in 1979, the chain now has 6,168 stores in 50 states in the U.S., 703 stores...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	1,551	10,740	18,286
2023 Total Population :	1,573	10,921	18,562
2023 Employed Civilian Pop :	695	5,352	9,172
2023 Total Businesses :	128	349	584
2023 Average Household Income :	$ 78,550	$ 81,621	$ 84,245
2023 Total Consumer Spending :	$ 45 M	$ 317 M	$ 523 M
2023 Median Age :	41	42	42
2023 Total Households :	666	4,454	7,142
2023 Pop Age 25+: Bachelor's Degree :	172	1,385	2,242
2023 Average Home Value :	$ 189,153	$ 212,333	$ 234,411

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
North Main Street	Hostetler Rd	2021	9,346	0.11 mi
Hostetler Road	Sterling Ave	2021	3,427	0.35 mi
Mineral Spring Street	N Main St	2021	1,824	0.46 mi
Olive Street	N Ella St	2021	598	0.47 mi
North Vine Street	Union St	2021	1,663	0.68 mi
N Main St	Wadsworth Rd	2000	9,150	0.69 mi
Strawberry Lane	N Mill St	2021	447	0.70 mi
North Elm Street	Mineral Spring St	2021	1,535	0.77 mi
Orr Street	N Main St	2021	2,927	0.84 mi
Hostetler Road	Strawbridge Pl	2021	2,763	0.85 mi

Listing Broker

Aron Cline

Berkeley Capital Advisors

Contact

156 Listings
6781 Views
10 Sold

Calvin Short

Berkeley Capital Advisors

Contact

163 Listings
7129 Views
11 Sold

Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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