Investment Overview

Marcus & Millichap is pleased to exclusively present a new construction AutoZone, with a 15-year ground lease, featuring attractive lease terms. These terms include 10% rental increases every five years throughout the term, all corporately guaranteed by AutoZone Development, LLC, with absolutely no landlord responsibilities. Subject property is currently under construction and anticipated to be completed by fall 2024. There are strong surrounding drivers including the North Carolina state capitol (3.1 miles away), downtown Raleigh (2.6 miles away), many notable retailers, schools with high enrollment, new multi-family developments, and a popular concert venue. Major retailers nearby include Food Lion, Walgreens, Family Dollar, Buddy’s, WingStop, Burger King, Domino’s Pizza, Southeast Raleigh YMCA, and more, Conveniently, subject property is situated in a heavily traveled corridor, with over 27,500 vehicles per day along Rock Quarry Road. Additionally, it is easily accessible from Interstate 40 (96,500 VPD) and Interstate 440 (98,000 VPD). This is a heavily populated area with significant growth. 202,000 people live within five miles, with 48% growth since the year 2000, and an additional 7% growth is anticipated by 2027. 304,133 people work within five miles.