Auto Parts

AutoZone

Listing Price: $3,100,363

Cap Rate
5.50%
Tenant Name
AutoZone
Years Remaining On Lease
11.10
Gross SF
7,360
Guarantor
Corporate Guarantee
Rentable SF
7,360
Price/Gross SF
$421.24
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$23.17

Investment Overview

Marcus & Millichap had been exclusively retained by ownership for the disposition of their fee simple interest in AutoZone located in Edgewater Park, Burlington County, New Jersey. The asset sits on 1.00 acre of land and is subject to a corporate guaranteed, triple NNN lease providing ownership with zero management responsibilities. The eleven years of base term comes with three - five year lease renewal option period and a nine percent annual rent increase in each of the option renewal periods.

AutoZone is investment grade rated "BBB" by Standards and Poor's and recently extended their lease early showing strong commitment to the trade area. The asset is strategically positioned along State Route 130 with traffic counts of 36,115 vehicles per day and 201,525 people in a five mile radius of the property. The immediate trade area includes such tenants as CVS, McDonald's , ACME, Walgreens, Bank of America, Amazon distribution warehouse, Burlington Coat Factory distribution warehouse and Frito Lay distribution warehouse.

Investment Highlights

  • Early lease option extension which shows AutoZone's commitment to site.
  • Strong traffic count of 36,115 vehicles per day on State Route 130.
  • Dense population of 201,525 people within five mile radius.
  • AutoZone, Inc., is an investment grade rated "BBB" by Standards and Poor's.
  • Corporate guaranteed, triple net lease structure with options and increases.

Exclusively Listed By

Listing Price: $3,100,363

Cap Rate
5.50%
Tenant Name
AutoZone
Years Remaining On Lease
11.10
Gross SF
7,360
Guarantor
Corporate Guarantee
Rentable SF
7,360
Price/Gross SF
$421.24
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$23.17

Investment Highlights

  • Early lease option extension which shows AutoZone's commitment to site.
  • Strong traffic count of 36,115 vehicles per day on State Route 130.
  • Dense population of 201,525 people within five mile radius.
  • AutoZone, Inc., is an investment grade rated "BBB" by Standards and Poor's.
  • Corporate guaranteed, triple net lease structure with options and increases.

Investment Overview

Marcus & Millichap had been exclusively retained by ownership for the disposition of their fee simple interest in AutoZone located in Edgewater Park, Burlington County, New Jersey. The asset sits on 1.00 acre of land and is subject to a corporate guaranteed, triple NNN lease providing ownership with zero management responsibilities. The eleven years of base term comes with three - five year lease renewal option period and a nine percent annual rent increase in each of the option renewal periods.

AutoZone is investment grade rated "BBB" by Standards and Poor's and recently extended their lease early showing strong commitment to the trade area. The asset is strategically positioned along State Route 130 with traffic counts of 36,115 vehicles per day and 201,525 people in a five mile radius of the property. The immediate trade area includes such tenants as CVS, McDonald's , ACME, Walgreens, Bank of America, Amazon distribution warehouse, Burlington Coat Factory distribution warehouse and Frito Lay distribution warehouse.

Exclusively Listed By

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