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Views: 83 DOM: 51 Updated: 11.30.23 Posted: 08.11.23 Status: Sold 10.01.23

Summary

Price $2,200,000 $2,435,000
Built/Renov 2018
Tenant AutoZone (GL)
Cap Rate 5.14% 4.64%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 7,600
Lease Start 01-25-2019
#Units 6,943
Price/SF $289.47 $320.39
Expiration 01-31-2034
Tenant Type Automotive
NOI $113,000
R. Term 9.0
Ownership Ground Lease
Rent/SF $14.87
Increases 10.0%/1/yrs
Pop 5Mi 172,147
Lot/AC 1.00
Options 7/5yrs/10%
AHHI 5Mi $113,309

Lease Highlights

  • AutoZone has over 10 years remaining on the current lease term with 7 (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 | Zero landlord responsibilities
  • Corporate guarantee by AutoZone, Inc. (NYSE: AZO)
  • AutoZone is an investment grade tenant (S&P: BBB)

Location Description

AutoZone is strategically located at the hard corner intersection of Beach Boulevard and Gerona Drive East seeing over 45,000 vehicles per day. The site is directly across from Pablo Creek Plaza, a Target anchored shopping center, with tenants including Game Stop, Dollar Tree, Michaels and more. Additional national/credit tenants in the area include Pizza Hut, Smoothie King, Bank of America,...

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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 : 13,027 77,632 177,428
2023 Total Population : 11,533 75,007 172,817
2023 Employed Civilian Pop : 5,876 40,803 96,670
2023 Total Businesses : 513 2,239 7,756
2023 Average Household Income : $ 135,918 $ 123,214 $ 119,758
2023 Total Consumer Spending : $ 545 M $ 3306 M $ 7429 M
2023 Median Age : 39 38 38
2023 Total Households : 4,626 31,213 72,055
2023 Pop Age 25+: Bachelor's Degree : 2,373 16,802 39,416
2023 Average Home Value : $ 389,213 $ 422,545 $ 431,000
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Hodges Blvd Fario Rd 2010 32,858 0.23 mi
Hodges Boulevard Beach Blvd 2021 24,000 0.30 mi
Beach Boulevard Beach Blvd 2021 36,500 0.40 mi
Beach Blvd San Pablo Rd 2010 41,500 0.97 mi
San Pablo Rd Beach Blvd 2010 27,014 1.04 mi
San Pablo Rd Beach Blvd 2010 23,357 1.04 mi
Beach Boulevard Highland Glen Bv 2021 41,000 1.10 mi
San Pablo Road South Seven Pines Dr 2021 20,500 1.25 mi
San Pablo Parkway Crosswater Blvd 2021 26,000 1.42 mi
Beach Blvd Station Creek Rd 2010 46,500 1.56 mi

Listing Broker

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