Auto Parts

AutoZone | New 15-Year NNN GL | Philadelphia MSA

200 W Lincoln Hwy, Penndel, PA 19047

Listing Price: $1,570,000

Cap Rate
5.00%
Tenant Name
AutoZone
Years Remaining On Lease
15.0
Guarantor
Corporate Guarantee
Rentable SF
6,815
Lease Type
NNN Ground Lease
Rent Per Square Feet
$11.52

Investment Overview

INDUSTRY LEADING AUTO PARTS RETAILER – AutoZone, Inc. is the nation’s leading retailer and distributor of automotive replacement parts and accessories with more than 6,000 stores in US, Puerto Rico, Mexico, and Brazil. The Company generated $11.22 Billion in sales last year, topping both O’Reilly Auto Parts and Advance Auto Parts who ended 2019 with $9.54B and $9.60B respectively. INVESTMENT GRADE CREDIT – AutoZone, Inc. is rated “BBB” by Standard & Poor’s and was recently upgraded to “Baa1” by Moody’s. Publicly traded (NYSE: AZO), the company reports 2020 revenue of $12.63 Billion and Net Income of $1.73 Billion, both up six percent over the prior year.

Investment Highlights

  • New 15-Year Investment Grade Ground Lease
  • 5% Rental Increase in Year Seven of Base Term; 6% in Options
  • Robust Philadelphia Metro with a Population of 82,082 within 3-Miles

Broker of Record

  • Sean Beuche

    Regional Manager

    License(s): PA: RM424190

    Pennsylvania

Auto Parts

AutoZone | New 15-Year NNN GL | Philadelphia MSA

Listing Price: $1,570,000

Cap Rate
5.00%
Tenant Name
AutoZone
Years Remaining On Lease
15.0
Guarantor
Corporate Guarantee
Rentable SF
6,815
Lease Type
NNN Ground Lease
Rent Per Square Feet
$11.52

Investment Highlights

  • New 15-Year Investment Grade Ground Lease
  • 5% Rental Increase in Year Seven of Base Term; 6% in Options
  • Robust Philadelphia Metro with a Population of 82,082 within 3-Miles

Investment Overview

INDUSTRY LEADING AUTO PARTS RETAILER – AutoZone, Inc. is the nation’s leading retailer and distributor of automotive replacement parts and accessories with more than 6,000 stores in US, Puerto Rico, Mexico, and Brazil. The Company generated $11.22 Billion in sales last year, topping both O’Reilly Auto Parts and Advance Auto Parts who ended 2019 with $9.54B and $9.60B respectively. INVESTMENT GRADE CREDIT – AutoZone, Inc. is rated “BBB” by Standard & Poor’s and was recently upgraded to “Baa1” by Moody’s. Publicly traded (NYSE: AZO), the company reports 2020 revenue of $12.63 Billion and Net Income of $1.73 Billion, both up six percent over the prior year.

Broker of Record

  • Sean Beuche

    Regional Manager

    License(s): PA: RM424190

    Pennsylvania

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