AutoZone

3716 Reynolda Road, Winston-Salem, NC 27106

$804,000

Cap Rate 5.00%

Views: 85 DOM: 108 Updated: 10.06.24 Posted: 09.04.24 Status: Active

Summary

Price $804,000	Built/Renov 1960	Tenant AutoZone
Cap Rate 5.00%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 8,000	Lease Start 01-23-1996	#Units 7,140
Price/SF $100.50	Expiration 09-30-2034	Tenant Type Automotive
NOI $40,200	R. Term 9.9	Ownership Fee Simple
Rent/SF $5.03	Increases 0.0%/0/yrs	Pop 5Mi 104,744
Lot/AC 0.67	Options 4/5yrs	AHHI 5Mi $115,838

Lease Highlights

AutoZone has been operating in this location for over 20 years
Tenant recently extended its lease an additional 10 years with 4 (5-year) options to extend
New roof installed in 2020 | HVAC replaced in 2017
The lease features $0.30 PSF rent increases every 5 years
Strong performing store | Ranked in the top 35% of stores in the State
Corporate guarantee | Investment grade tenant

Location Description

AutoZone is strategically located on Reynolda Road, with access to 20,000 vehicles passing by daily. This top-performing property ranks in the top 35% among 222 stores in the state. Additionally, it benefits from direct access to Wake Forest University, one of the top-ranked schools in the country, with over 8,950 students just a few miles away. The immediate area features well-known national...

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Key Features

New roof
In location for years
Top 100 MSA
Strong demographics
Recently extended lease
Below Market Rent
Top performing store
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

AutoZone Wikipedia AutoZone Wikipedia Winston-Salem, North Carolina Zip Code 27106 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

Jereme Snyder

Colliers NNN Group

Contact

168 Listings
23579 Views
59 Sold

Eric Carlton

Colliers NNN Group

Contact

180 Listings
25359 Views
63 Sold

Jereme Snyder

Jereme S. Snyder is a Executive Vice President within the Retail Services Group in Greater Los Angeles and a Director of Colliers NNN Group for Colliers International nationwide. The Colliers Retail Services Team is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting in debt solutions. Colliers NNN Group is a national

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Eric Carlton

Eric Carlton serves as Executive Vice President within the Retail Capital Markets Group of Greater Los Angeles, Partner of the Colliers NNN Group, and Co-Founder of the Snyder/Carlton Team for Colliers International nationwide. The Colliers Retail Services Group is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting i

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