Skip to main content

Shopping Strip

Autozone Retail Center | Jewel Shadow Anchor

9310 W 159th St, Orland Park, IL 60462

Listing Price: $2,506,000

Cap Rate
6.75%
Gross SF
13,926
Rentable SF
13,926
Price/Gross SF
$179.95
Lot Size
1.30 acres
Year Built
2003

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.

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

Shopping Strip

Autozone Retail Center | Jewel Shadow Anchor

Listing Price: $2,506,000

Cap Rate
6.75%
Gross SF
13,926
Rentable SF
13,926
Price/Gross SF
$179.95
Lot Size
1.30 acres
Year Built
2003

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

MM Texture Background
MM Textured Background Lower