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AutoZone (GL)
211 Alfred Street, Georgetown, DE 19947
$1,522,000
Cap Rate 4.50%
Summary
| Price $1,522,000 | Built/Renov 2023 | Tenant AutoZone (GL) |
| Cap Rate 4.50% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
6,815
| Lease Start
08-01-2023
| #Units
6,943
|
| Price/SF $223.33 | Expiration
07-31-2043
| Tenant Type Automotive |
| NOI $68,500 | R. Term 19.7 | Ownership Ground Lease |
| Rent/SF
$10.05
| Increases 6.5%/11/yrs | Pop 5Mi 17,150 |
| Lot/AC 0.84 | Options 4/5yrs/6.5% | AHHI 5Mi $86,066 |
| | |
Lease Highlights
- Brand new 2023 construction
- AutoZone recently signed a brand new 20-year lease with 4 (5-year) options to extend
- Lease features a 6.50% rental increase at the start of each option period
- Absolute NNN | Zero landlord responsibilities
- Corporate guarantee by AutoZone, Inc. (NYSE: AZO)
Location Description
This newly constructed AutoZone is strategically located at the hard corner intersection of Alfred Street and North Dupont Boulevard (Hwy 13) with access to 29,800 vehicles per day. Dupont Blvd serves as the primary retail thoroughfare serving Georgetown with national/credit tenants such as Walmart Supercenter, Redner’s, Walgreens, Starbucks, McDonald’s, and more. Additionally, the site is...
...Features
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New construction
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Hard corner intersection
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Major thoroughfare
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Highway location
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Affluent suburb location
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Major MSA
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Brand new lease
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Absolute NNN
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Traded and rated company
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Investment grade tenant
...
Maps
Tenant
- Tenant: AutoZone
- Guarantor:Corp T and Rated
- Company:AutoZone, Inc.
- # Units:6,943
- Tenant S&P: BBB
- Moody’s: Baa1
- Stock:NYSE: AZO
About Tenant
AutoZone, Inc. is an American retailer of aftermarket automotive parts and accessories, the largest in the U.S. Founded in 1979, the chain now has 6,168 stores in 50 states in the U.S., 703 stores...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 5,417 | 11,881 | 17,992 |
| 2023 Total Population : | 5,523 | 11,836 | 17,525 |
| 2023 Employed Civilian Pop : | 1,973 | 4,442 | 7,183 |
| 2023 Total Businesses : | 503 | 764 | 918 |
| 2023 Average Household Income : | $ 64,978 | $ 74,513 | $ 86,781 |
| 2023 Total Consumer Spending : | $ 86 M | $ 212 M | $ 401 M |
| 2023 Median Age : | 33 | 34 | 37 |
| 2023 Total Households : | 1,517 | 3,263 | 5,328 |
| 2023 Pop Age 25+: Bachelor's Degree : | 254 | 709 | 1,618 |
| 2023 Average Home Value : | $ 295,770 | $ 318,196 | $ 366,359 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| US113 DUPONT BOULEVA | Alfred St | 2020 | 17,721 | 0.21 mi |
| SR18 N. BEDFORD STRE | Mary St | 2020 | 13,730 | 0.30 mi |
| North Bedford Street | Pepper St | 2016 | 19,978 | 0.30 mi |
| N Race St | Douglas St | 2003 | 524 | 0.38 mi |
| Seashore Hwy | N Bedford Exd | 2003 | 10,807 | 0.41 mi |
| Dupont Boulevard | Berlin Rd | 2016 | 29,819 | 0.42 mi |
| West Market Street | Georgetown | 2016 | 13,079 | 0.43 mi |
| US9 W. MARKET STREET | Tam Aly | 2020 | 10,931 | 0.44 mi |
| Douglas St | N Race St | 2003 | 226 | 0.45 mi |
| The Circle | Rd 28 | 2019 | 16,125 | 0.48 mi |
