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Auto Parts

AutoZone

748 N Lake Drive, Prestonsburg, KY 41653

Listing Price: $1,359,411

Cap Rate
4.75%
Tenant Name
AutoZone Development Corporation
Years Remaining On Lease
9.7
Guarantor
Corporate Guarantee
Rentable SF
6,979
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$9.25

Investment Overview

Marcus & Millichap is pleased to present the Broker Opinion of Value for an AutoZone located at 748 North Lake Drive in Prestonsburg, KY. The site consists of roughly 6.979 rentable square feet of building space on an estimated 0.25-acre parcel of land. This AutoZone is subject to a 20-year triple-net (NNN) lease, which commenced on April 19, 2011. The current annual rent, effective May 1, 2022, is $64,572 and is scheduled to increase by ten percent (10%) beginning in the first option period.

Investment Highlights

  • Long-Term, Original 20-Year Triple Net (NNN) Lease With Approximately 10 Years Remaining
  • Tenant Displaying Commitment to This Location | Tenant Recently Extended Base Term of Lease by Five (5) Years
  • Ten Percent (10%) Rental Increases Occurring Every Five (5) Years in Option Periods

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s) KY: 242197

    Kentucky

Listing Price: $1,359,411

Cap Rate
4.75%
Tenant Name
AutoZone Development Corporation
Years Remaining On Lease
9.7
Guarantor
Corporate Guarantee
Rentable SF
6,979
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$9.25

Investment Highlights

  • Long-Term, Original 20-Year Triple Net (NNN) Lease With Approximately 10 Years Remaining
  • Tenant Displaying Commitment to This Location | Tenant Recently Extended Base Term of Lease by Five (5) Years
  • Ten Percent (10%) Rental Increases Occurring Every Five (5) Years in Option Periods

Investment Overview

Marcus & Millichap is pleased to present the Broker Opinion of Value for an AutoZone located at 748 North Lake Drive in Prestonsburg, KY. The site consists of roughly 6.979 rentable square feet of building space on an estimated 0.25-acre parcel of land. This AutoZone is subject to a 20-year triple-net (NNN) lease, which commenced on April 19, 2011. The current annual rent, effective May 1, 2022, is $64,572 and is scheduled to increase by ten percent (10%) beginning in the first option period.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s): KY: 242197

    Kentucky

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