AutoZone

7542 Skyway, Paradise, CA 95969

$1,502,000

Cap Rate 6.39%

$1,600,000

Cap Rate 6.00%

Views: 51 Updated: 07.07.23 Posted: 06.14.23 Status: Sold 05.18.23

Summary

Price $1,502,000 $1,600,000	Built/Renov 1997	Tenant AutoZone
Cap Rate 6.39% 6.00%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 5,360	Lease Start 11-11-2021	#Units 6,943
Price/SF $280.22 $298.51	Expiration 12-31-2033	Tenant Type Automotive
NOI $96,000	R. Term 8.12	Ownership Fee Simple
Rent/SF $17.91	Increases 5.0%/10/yrs	Pop 5Mi 11,603
Lot/AC 0.75	Options 4/5yrs/5%	AHHI 5Mi $89,341

Lease Highlights

The tenant, AutoZone West LLC, recently extended their lease an additional 10 years with 4 (5-year) options to extend
4 year old roof with documented 15+ year remaining useful life
Landlord responsibilities limited to roof & structure
Corporate guaranteed by AutoZone, Inc. (NYSE: AZO)
AutoZone is an investment grade tenant (S&P: BBB)

Location Description

AutoZone is located near the signalized, hard corner intersection of Skyway and Bille Rd with a combined (20,200 VPD). The site is ideally situated in a dense retail corridor, with numerous nearby national/credit tenants including Walgreens, Rite Aid, Arco, Dollar General, Dollar Tree, Taco Bell, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and...

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Key Features

New roof
Dense retail corridor
Near major nationals
Recently extended lease
Limited competition
Favorable NN+ lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

AutoZone Wikipedia AutoZone Wikipedia Paradise, California Zip Code 95969 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...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	1,379	6,442	11,856
2023 Total Population :	1,304	6,163	11,609
2023 Employed Civilian Pop :	505	2,455	4,482
2023 Total Businesses :	179	503	632
2023 Average Household Income :	$ 69,086	$ 82,373	$ 86,597
2023 Total Consumer Spending :	$ 39 M	$ 196 M	$ 377 M
2023 Median Age :	51	55	56
2023 Total Households :	658	2,731	4,994
2023 Pop Age 25+: Bachelor's Degree :	173	915	1,769
2023 Average Home Value :	$ 288,049	$ 370,423	$ 403,930

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Bille Rd	Skyway	2014	7,957	0.07 mi
Bille Rd	Skyway	2014	2,728	0.09 mi
Skyway	Bille Rd	2014	12,184	0.11 mi
Skyway	Wagstaff Rd	2003	14,547	0.52 mi
Wagstaff Rd	Whittal Ln	2014	1,736	0.61 mi
Clark Rd	Elliott Rd	2014	15,383	0.70 mi
Skyway	Kemen Ln	2014	10,751	0.71 mi
Elliott Rd	Clark Rd	2014	9,853	0.72 mi
Oliver Rd	Skyway	2014	4,208	0.74 mi
Elliott Rd	Clark Rd	2014	5,555	0.78 mi

Listing Broker

Matthew Mousavi

SRS National Net Lease Group

Contact

369 Listings
48499 Views
137 Sold

Patrick Luther

SRS National Net Lease Group

Contact

420 Listings
53153 Views
165 Sold

Matthew Mousavi

Matthew is the managing principal and co-founder of the SRS National Net Lease Group, based in Newport Beach, California. SRS’ is the exclusive net lease investment advisory platform across more than 25 offices nationally. SRS is the largest retail estate firm in North America exclusively focused on retail services, of which Matthew is a member of the board. The firm has a track record spanning over 30 years and billions in transaction volume, and represents over 400 retailers throughout the co

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Patrick Luther

Patrick joined SRS in 2016 with more than 10 years of transactional brokerage experience in the commercial real estate industry and over $1 billion in closed transactions, representing over 300 individual properties. Along with Matthew Mousavi, Patrick co-founded and leads the National Net Lease Group at SRS, the exclusive net lease capital markets platform within SRS, comprised of more than 75 professionals handling all net lease transactions for the firm nationally. He focuses on all types of

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