Shopping Strip
Autozone Retail Center | Jewel Shadow Anchor
9310 W 159th St, Orland Park, IL 60462
Listing Price: $2,506,000
Investment Overview
Marcus & Millichap is proud to present the opportunity to purchase an AutoZone Anchored Retail Center in Orland Park, IL, a wealthy suburb of Chicago. The property is shadow anchored by a Jewel Grocery Store and is located on a dominant retail corridor with nearby automotive retail users including Volkswagen, Audi, Cadillac, Fiat, Firestone, Jiffy Lube, Kia, Enterprise, Porsche, and more. This is a mission critical location for AutoZone, as evidenced by the fact that they recently executed a 6 year lease renewal in 2021. Their investment grade credit (S&P Rated: BBB) backs 57% of the building’s tenancy.
Three of the four tenants operate on NNN leases and reimburse for their pro-rata share of operating expenses. The rent roll is highly stabilized and is scheduled to yield a 6.75% Capitalization Rate in the first year of a new owner’s hold period.
This is an opportunity to purchase a stabilized multi-tenant retail property with a high credit anchor tenant backing the majority of the rent roll.
Please reach out to Marcus & Millichap with additional questions regarding this Autozone Anchored Retail Center.
Autozone Retail Center | Jewel Shadow Anchor
Investment Highlights
- Located at a Signalized Intersection, at the Entrance to a Jewel Grocery Store
- 33,000 Cars Per Day | Phenomenal Demographics: +80,000 Population within a 3-Mile Radius; Average HH Incomes Exceed $118,000
- 6-Year Lease Extension by AutoZone (S&P Credit Rating: BBB) Signed in 2021 | Mission Critical Location | Close Proximity to Dozens of Car Dealers and Auto Service Centers
- H&R Block just extended their lease for 5 Years, with Built-In Rental Increases
- Average Per Square Foot Rents in the Center Are Highly Replaceable
Exclusively Listed By
Listing Price: $2,506,000
Investment Highlights
- Located at a Signalized Intersection, at the Entrance to a Jewel Grocery Store
- 33,000 Cars Per Day | Phenomenal Demographics: +80,000 Population within a 3-Mile Radius; Average HH Incomes Exceed $118,000
- 6-Year Lease Extension by AutoZone (S&P Credit Rating: BBB) Signed in 2021 | Mission Critical Location | Close Proximity to Dozens of Car Dealers and Auto Service Centers
- H&R Block just extended their lease for 5 Years, with Built-In Rental Increases
- Average Per Square Foot Rents in the Center Are Highly Replaceable
Investment Overview
Marcus & Millichap is proud to present the opportunity to purchase an AutoZone Anchored Retail Center in Orland Park, IL, a wealthy suburb of Chicago. The property is shadow anchored by a Jewel Grocery Store and is located on a dominant retail corridor with nearby automotive retail users including Volkswagen, Audi, Cadillac, Fiat, Firestone, Jiffy Lube, Kia, Enterprise, Porsche, and more. This is a mission critical location for AutoZone, as evidenced by the fact that they recently executed a 6 year lease renewal in 2021. Their investment grade credit (S&P Rated: BBB) backs 57% of the building’s tenancy. Three of the four tenants operate on NNN leases and reimburse for their pro-rata share of operating expenses. The rent roll is highly stabilized and is scheduled to yield a 6.75% Capitalization Rate in the first year of a new owner’s hold period. This is an opportunity to purchase a stabilized multi-tenant retail property with a high credit anchor tenant backing the majority of the rent roll. Please reach out to Marcus & Millichap with additional questions regarding this Autozone Anchored Retail Center.
Exclusively Listed By
