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Views: 106 DOM: 183 Updated: 03.20.24 Posted: 08.15.23 Status: Sold 02.14.24

Summary

Price $1,370,000 $1,490,000
Built/Renov 2023
Tenant AutoZone (GL)
Cap Rate 5.00% 4.60%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 6,815
Lease Start 08-01-2023
#Units 6,943
Price/SF $201.03 $218.64
Expiration 07-31-2043
Tenant Type Automotive
NOI $68,500
R. Term 18.7
Ownership Ground Lease
Rent/SF $10.05
Increases 6.5%/11/yrs
Pop 5Mi 17,150
Lot/AC 0.84
Options 4/5yrs/6.5%
AHHI 5Mi $86,066

Lease Highlights

  • Brand new 2023 construction
  • AutoZone recently signed a brand new 20-year lease with 4 (5-year) options to extend
  • Lease features a 6.50% rental increase at the start of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee by AutoZone, Inc. (NYSE: AZO)

Location Description

This newly constructed AutoZone is strategically located at the hard corner intersection of Alfred Street and North Dupont Boulevard (Hwy 13) with access to 29,800 vehicles per day. Dupont Blvd serves as the primary retail thoroughfare serving Georgetown with national/credit tenants such as Walmart Supercenter, Redner’s, Walgreens, Starbucks, McDonald’s, and more. Additionally, the site is...

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Maps

  • 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 : 5,417 11,881 17,992
2023 Total Population : 5,523 11,836 17,525
2023 Employed Civilian Pop : 1,973 4,442 7,183
2023 Total Businesses : 503 764 918
2023 Average Household Income : $ 64,978 $ 74,513 $ 86,781
2023 Total Consumer Spending : $ 86 M $ 212 M $ 401 M
2023 Median Age : 33 34 37
2023 Total Households : 1,517 3,263 5,328
2023 Pop Age 25+: Bachelor's Degree : 254 709 1,618
2023 Average Home Value : $ 295,770 $ 318,196 $ 366,359
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
US113 DUPONT BOULEVA Alfred St 2020 17,721 0.21 mi
SR18 N. BEDFORD STRE Mary St 2020 13,730 0.30 mi
North Bedford Street Pepper St 2016 19,978 0.30 mi
N Race St Douglas St 2003 524 0.38 mi
Seashore Hwy N Bedford Exd 2003 10,807 0.41 mi
Dupont Boulevard Berlin Rd 2016 29,819 0.42 mi
West Market Street Georgetown 2016 13,079 0.43 mi
US9 W. MARKET STREET Tam Aly 2020 10,931 0.44 mi
Douglas St N Race St 2003 226 0.45 mi
The Circle Rd 28 2019 16,125 0.48 mi

Listing Broker

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