AutoZone

808 East Main Street, Gas City, IN 46933

$827,000

Cap Rate 5.50%

Views: 93 Updated: 12.04.23 Posted: 10.27.23 Status: Inactive

Summary

Price $827,000	Built/Renov 1973	Tenant AutoZone
Cap Rate 5.50%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 7,536	Lease Start 08-01-2005	#Units 6,943
Price/SF $109.74	Expiration 07-31-2034	Tenant Type Automotive
NOI $45,500	R. Term 9.8	Ownership Fee Simple
Rent/SF $6.04	Increases 10.0%/6/yrs	Pop 5Mi 24,940
Lot/AC 1.20	Options 3/5yrs/10%	AHHI 5Mi $62,943

Lease Highlights

AutoZone has a 17+ year operating history in this location
Tenant recently extended its lease early by 10 years, bringing the total remaining base term to 11 years
The lease features 10% rental increases in 2029 and in each option period
Cheap rent and small price point | Tenant is currently paying only $6/SF
Corporate guaranteed lease (S&P: BBB)

Location Description

AutoZone's location offers excellent accessibility and high visibility along Main St, which averages a daily traffic count of 25,700 vehicles. The subject property is positioned just over a mile from a Walmart Distribution Center, within a one-mile radius of Mississinewa High School. Additionally, it is approximately three miles from the VA Northern Indiana Health Care System and less than...

...

Key Features

In location for years
Major thoroughfare
Strategically located
Top 100 MSA
Long operation history
Recently extended lease
Strong sales history
Traded and rated company
Corporate Guarantee
Investment grade tenant

...

Links

AutoZone Wikipedia AutoZone Wikipedia Gas City, Indiana Zip Code 46933 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...

...

Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	5,507	10,009	24,376
2023 Total Population :	5,604	10,211	24,726
2023 Employed Civilian Pop :	2,524	4,462	10,539
2023 Total Businesses :	135	246	622
2023 Average Household Income :	$ 65,331	$ 65,047	$ 63,360
2023 Total Consumer Spending :	$ 138 M	$ 246 M	$ 533 M
2023 Median Age :	42	43	39
2023 Total Households :	2,371	4,229	9,465
2023 Pop Age 25+: Bachelor's Degree :	631	938	1,967
2023 Average Home Value :	$ 142,155	$ 141,250	$ 140,311

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
East Main Street	Jones Rd	2021	11,890	0.06 mi
East Main Street	S 7th St	2021	11,890	0.15 mi
South 7th Street	E South B St	2018	1,816	0.16 mi
South 7th Street	E South H St	2021	1,773	0.16 mi
North 10th Street	E Main St	2021	3,403	0.26 mi
East Main Street	N 6th St	2018	13,588	0.26 mi
South 6th Street	E South D St	2021	367	0.33 mi
South 5th Street	S 5th St	2021	565	0.38 mi
East Main Street	Olynger Rd	2021	11,079	0.44 mi
East North D Street	N 6th St	2021	428	0.44 mi

Listing Broker

Calvin Short

Berkeley Capital Advisors

Contact

187 Listings
28462 Views
23 Sold

Aron Cline

Berkeley Capital Advisors

Contact

177 Listings
27454 Views
21 Sold

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

...

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

...

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT