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Views: 58 DOM: 86 Updated: 08.04.23 Posted: 05.24.23 Status: Sold 08.18.23

Summary

Price $1,517,241 $1,553,000
Built/Renov 2023
Tenant AutoZone (GL)
Cap Rate 4.35% 4.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 7,372
Lease Start 02-01-2023
#Units 6,943
Price/SF $205.81 $210.66
Expiration 02-01-2043
Tenant Type Automotive
NOI $66,000
R. Term 18.1
Ownership Ground Lease
Rent/SF $8.95
Increases 8.0%/5/yrs
Pop 5Mi 43,643
Lot/AC 1.21
Options 4/5yrs/8%
AHHI 5Mi $86,339

Lease Highlights

  • Brand new 2023 construction
  • AutoZone recently signed a brand new 20-year lease with 4 (5-year) options to extend
  • Lease features an 8% rental increase at year 10 and every 5 years during option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee by AutoZone, Inc. (NYSE: AZO)

Location Description

This newly constructed AutoZone is located along North Porter Road with access to 8,100 vehicles per day. It is situated just off of West Maricopa-Casa Grande Highway (10,400 VPD) as an outparcel to a Walmart shopping center with neighboring tenants including McDonalds, Walgreens, Papa Johns, Burger King and Chilis. Additional national/credit tenants in the area include Sprouts Farmers Market,...

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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 over 6,400 stores across the U.S., Mexico, Puerto...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 7,770 55,361 74,173
2023 Total Population : 7,182 51,431 68,907
2023 Employed Civilian Pop : 3,432 22,599 31,100
2023 Total Businesses : 66 404 563
2023 Average Household Income : $ 107,580 $ 103,220 $ 104,775
2023 Total Consumer Spending : $ 229 M $ 1514 M $ 2042 M
2023 Median Age : 33 34 34
2023 Total Households : 2,462 16,984 22,557
2023 Pop Age 25+: Bachelor's Degree : 733 4,774 6,683
2023 Average Home Value : $ 339,670 $ 332,422 $ 329,204
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N Porter Rd W Applegate Rd 2013 3,454 0.10 mi
N Porter Rd W Cowtown Rd 2013 7,220 0.22 mi
West Maricopa-Casa Grande Highway Stonegate Rd 2018 9,296 0.34 mi
W Maricopa-Casa Grande Hwy Stonegate Rd 2014 8,303 0.34 mi
West Bowlin Road N Emma Ln 2018 6,200 0.39 mi
W Bowlin Rd N Emma Ln 2014 5,538 0.40 mi
N Porter Rd Adams Way 2014 6,506 0.47 mi
North Porter Road Adams Way 2018 7,285 0.47 mi
W Bowlin Rd Smith Farm Cir 2010 1,796 0.59 mi
W Bowlin Rd Smith Farm Cir 2010 1,291 0.62 mi

Listing Broker

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