AutoZone (GL)

490 Ritchie Hwy, Severna Park, MD 21146

$2,550,000

Cap Rate 4.38%

Views: 92 DOM: 252 Updated: 03.14.24 Posted: 09.07.23 Status: Active

Summary

Price $2,550,000	Built/Renov 2002	Tenant AutoZone (GL)
Cap Rate 4.38%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 7,200	Lease Start 05-01-2002	#Units 6,943
Price/SF $354.17	Expiration 05-01-2027	Tenant Type Automotive
NOI $111,804	R. Term 2.11	Ownership Ground Lease
Rent/SF $15.53	Increases 10.0%/4/yrs	Pop 5Mi 136,286
Lot/AC 1.03	Options 3/5yrs/10%	AHHI 5Mi $167,556

Andrew Fallon

SRS National Net Lease Group

Contact

Lease Highlights

AutoZone has been operating in this location since 2002
Tenant has 3+ years remaining on the current lease term with 3 (5-year) options to extend
Lease features a 10% rental increase every 5 years throughout the initial term and at the start of each option
Absolute NNN lease | Zero landlord responsibilities
Corporate guarantee by AutoZone, Inc. (NYSE: AZO)

Location Description

AutoZone is strategically located fronting Ritchie Highway, which averages 65,400 vehicles per day. The asset has excellent visibility and access and is surrounded by major national retailers such as Chick-fil-A, McDonald’s, Kohl’s, Giant Food, and more, providing a strong consumer draw to the immediate trade area. The site also benefits from strong demographics, with more than 136,000...

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Key Features

In location for years
High traffic 50M+ VPD
Near major nationals
Highway location
Top 100 MSA
Strong demographics
Long operation history
Absolute NNN
Traded and rated company
Investment grade tenant

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Links

AutoZone Wikipedia AutoZone Wikipedia Severna Park, Maryland Zip Code 21146 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 :	7,965	48,847	137,146
2023 Total Population :	7,999	48,832	136,577
2023 Employed Civilian Pop :	4,087	26,486	74,520
2023 Total Businesses :	477	1,542	4,093
2023 Average Household Income :	$ 215,680	$ 202,898	$ 172,908
2023 Total Consumer Spending :	$ 476 M	$ 2900 M	$ 7144 M
2023 Median Age :	46	46	42
2023 Total Households :	2,659	17,206	49,235
2023 Pop Age 25+: Bachelor's Degree :	1,803	10,527	25,974
2023 Average Home Value :	$ 697,862	$ 663,729	$ 585,375

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Robinson Rd	Ritchie Hwy	2012	9,590	0.07 mi
Kimberly Ct	Marbury Rd	2001	2,305	0.17 mi
Governor Ritchie Highway	Old Annapolis Rd	2018	53,101	0.19 mi
Ritchie Hwy	Town Neck Rd	2011	56,220	0.20 mi
Robinson Road	Odonnel Ct	2017	10,982	0.20 mi
Old Annapolis Rd	Kimberly Ct	2018	9,632	0.20 mi
Kimberly Ct	Marbury Rd	2001	2,038	0.22 mi
Arundel Beach Rd	Leelyn Dr	2018	2,881	0.27 mi
Robinson Rd	Thomas Way	2020	10,112	0.29 mi
Ritchie Hwy	Haas Ct	2012	51,451	0.33 mi

Listing Broker

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