AutoZone

121 Montgomery Crossing, Biscoe, NC 27209

$1,669,565

Cap Rate 5.75%

Views: 17 DOM: 26 Updated: 08.30.24 Posted: 08.21.24 Status: Active 08.21.24

Summary

Price $1,669,565	Built/Renov 2006	Tenant AutoZone
Cap Rate 5.75%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 7,370	Lease Start 10-01-2006	#Units 7,140
Price/SF $226.54	Expiration 09-30-2038	Tenant Type Automotive
NOI $96,000	R. Term 14.0	Ownership Fee Simple
Rent/SF $13.03	Increases 1.5%/1/yrs	Pop 5Mi 6,760
Lot/AC 1.00	Options 3/5yrs/1.5%	AHHI 5Mi $68,659

Lease Highlights

AutoZone has been operating in this location since 2006
The tenant has 13+ years remaining on the current lease term with 3 (5-year) options to extend
The lease features 1.5% annual rental escalations throughout the initial term and option periods
Corporate guarantee | Investment grade tenant

Location Description

AutoZone is strategically located on Highway 24, with access to 16,500 vehicles passing by daily. The property is situated on an outlot to Walmart, with other well-known national tenants including McDonald’s, Subway, Murphy USA, Great Clips, First Bank, and more. Key community educational institutions in the vicinity include Greenridge Elementary School, East Middle School, East Montgomery...

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Key Features

Build to suit
In location for years
Dense retail corridor
Near major nationals
Highway location
Long operation history
Long 10+ yr lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

AutoZone Wikipedia AutoZone Wikipedia Biscoe, North Carolina Zip Code 27209 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: AutoZone
Guarantor:Corp T and Rated
Company:AutoZone, Inc.
# Units:7,140
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 7,140 stores in 50 in the U.S., Mexico,...

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Listing Broker

Keith Sturm

Upland Real Estate Group, Inc.

Contact

66 Listings
4825 Views
10 Sold

Amanda Leathers

Upland Real Estate Group, Inc.

Contact

66 Listings
4825 Views
10 Sold

Keith Sturm

With over 25 years of experience in commercial real estate, Keith Sturm is the Principal and CEO of Upland Real Estate Group, Inc, which he founded in 1995. Under his leadership, Upland has been consistently recognized as one of the top commercial real estate brokerage firms by the Minneapolis/St. Paul Business Journal. Keith has also been awarded the “Power Broker” in four out of five years since 2010, as a Top Brokerage Firm in Sales Transactions by Real Estate Forum and CoStar. Keith has man

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Amanda Leathers

Amanda Leathers has over sixteen years of experience working in net lease sales with a highly motivated and successful team. As an Investment Sales Associate, she has contributed in the completion of over 900 transactions, totaling in excess of $2.8 billion in investment sales nationally. Amanda attended St. Cloud State University, graduating with a Bachelor of Science in Real Estate from the Herberger Business School. Most of her professional career has been at Upland, giving her a unique o

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Deb Vannelli

Upland Real Estate Group, Inc.

Contact

66 Listings
4825 Views
10 Sold

Deb Vannelli

Deborah Vannelli began her commercial real estate career over twenty-five years ago. Today, Deb is the Director of Net Lease Sales in the Minneapolis-based Upland Real Estate Group, Inc., and she has led her team to complete in excess of 900 net lease sales transactions, which have generated over $2.8 billion. Deb specializes in net lease investment sales on a national scale, representing buyers, sellers, and tenants on the sale or purchase of single and multi-tenant, net-leased investment p

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