AutoZone (GL)

16018 Kedzie Avenue, Markham, IL 60428

$1,070,000

Cap Rate 5.25%

Views: 97 Updated: 11.28.23 Posted: 09.02.23 Status: Inactive 03.12.24

Summary

Price $1,070,000	Built/Renov 2005	Tenant AutoZone (GL)
Cap Rate 5.25%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 8,700	Lease Start 09-01-2023	#Units 6,943
Price/SF $122.99	Expiration 09-01-2025	Tenant Type Automotive
NOI $56,179	R. Term 0.9	Ownership Ground Lease
Rent/SF $6.46	Increases 10.0%/2/yrs	Pop 5Mi 228,336
Lot/AC 0.60	Options 4/5yrs/10%	AHHI 5Mi $87,525

Lease Highlights

The tenant has 1+ years of firm term remaining on their current lease with 4 (5-year) option periods to extend
The ground lease features 10% rental increases at the beginning of each option period
The lease is signed by a subsidiary of the corporate entity
AutoZone is an investment grade tenant (S&P: BBB)

Location Description

AutoZone is strategically located near the signalized, hard corner intersection of Kedzie Avenue and U.S. Highway 6, averaging a combined 50,200 vehicles passing by daily. The asset benefits from direct access onto Interstate 57 (137,400 VPD), Interstate 80 (95,000 VPD), Interstate 294 (135,300 VPD), and several State/U.S. Highways, making this a centralized location with easy commutes for...

...

Key Features

High traffic 50M+ VPD
Dense retail corridor
Freeway close
Highway close
Top 100 MSA
Strong demographics
Absolute NNN
Traded and rated company
Investment grade tenant
Subsidiary guarantee

...

Links

AutoZone Wikipedia AutoZone Wikipedia Markham, Illinois Zip Code 60428 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 :	6,844	85,426	222,745
2023 Total Population :	7,000	86,654	226,967
2023 Employed Civilian Pop :	2,636	38,009	103,963
2023 Total Businesses :	240	2,425	7,014
2023 Average Household Income :	$ 68,074	$ 76,466	$ 84,796
2023 Total Consumer Spending :	$ 134 M	$ 2041 M	$ 6219 M
2023 Median Age :	37	37	39
2023 Total Households :	2,264	30,791	85,104
2023 Pop Age 25+: Bachelor's Degree :	646	8,420	26,898
2023 Average Home Value :	$ 140,436	$ 184,400	$ 213,033

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
W 159th St	Whipple Ave	2013	31,900	0.25 mi
Kedzie Ave	162nd St	2014	18,300	0.26 mi
Richmond Ave	Sherwood Ave	2014	950	0.37 mi
West 159th Street	Trumbull Ave	2019	27,200	0.39 mi
163rd St	Homan Ave	2014	950	0.40 mi
US 6		2021	20,500	0.40 mi
US 6		2021	29,100	0.40 mi
Richmond Avenue	Sussex Ave	2018	1,400	0.42 mi
Richmond Ave	Stafford Dr	2014	950	0.42 mi
Central Park Ave	Arthur Ter	2014	1,050	0.51 mi

Listing Broker

Dan Elliot

SRS National Net Lease Group

Contact

24 Listings
3178 Views
7 Sold

Sean Lutz

SRS National Net Lease Group

Contact

24 Listings
3178 Views
7 Sold

Dan Elliot

Dan joined SRS with nearly fifteen years of experience in real estate, both as an advisor and investor, and has worked exclusively with clients in the acquisition and disposition of leased investment properties nationwide. Dan, along with Sean Lutz, led the net lease group at SVN Commercial Real Estate Advisors, and has experience in single-tenant sales, anchored and unanchored shopping center sales, power center and portfolio dispositions and pre-development sales. He has a long list of repeat

...

Sean Lutz

Sean joined SRS with more than fifteen years of experience in commercial real estate. Along with Dan Elliot, he was responsible for leading the net lease group at SVN Commercial Real Estate Advisors. He specializes in the disposition and sale of net leased investment properties across the country and has completed more than 500 transactions with a sales volume in excess of $1 billion. Sean has an extensive client list ranging from private investors to some of the largest U.S. investment funds a

...

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