✖
AutoZone
808 East Main Street, Gas City, IN 46933
$827,000
Cap Rate 5.50%
Summary
| Price $827,000 | Built/Renov 1973 | Tenant AutoZone |
| Cap Rate 5.50% | Lease Type
Double NN | Guarantor Corp T and Rated |
| Size/SF
7,536
| Lease Start
08-01-2005
| #Units
6,943
|
| Price/SF $109.74 | Expiration
07-31-2034
| Tenant Type Automotive |
| NOI $45,500 | R. Term 10.7 | Ownership Fee Simple |
| Rent/SF
$6.04
| Increases 10.0%/6/yrs | Pop 5Mi 24,940 |
| Lot/AC 1.20 | Options 3/5yrs/10% | AHHI 5Mi $62,943 |
| | |
Lease Highlights
- AutoZone has a 17+ year operating history in this location
- Tenant recently extended its lease early by 10 years, bringing the total remaining base term to 11 years
- The lease features 10% rental increases in 2029 and in each option period
- Cheap rent and small price point | Tenant is currently paying only $6/SF
- Corporate guaranteed lease (S&P: BBB)
Location Description
AutoZone's location offers excellent accessibility and high visibility along Main St, which averages a daily traffic count of 25,700 vehicles. The subject property is positioned just over a mile from a Walmart Distribution Center, within a one-mile radius of Mississinewa High School. Additionally, it is approximately three miles from the VA Northern Indiana Health Care System and less than...
...Features
-
In location for years
-
Major thoroughfare
-
Strategically located
-
Top 100 MSA
-
Long operation history
-
Recently extended lease
-
Strong sales history
-
Traded and rated company
-
Corporate Guarantee
-
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 : | 5,507 | 10,009 | 24,376 |
| 2023 Total Population : | 5,604 | 10,211 | 24,726 |
| 2023 Employed Civilian Pop : | 2,524 | 4,462 | 10,539 |
| 2023 Total Businesses : | 135 | 246 | 622 |
| 2023 Average Household Income : | $ 65,331 | $ 65,047 | $ 63,360 |
| 2023 Total Consumer Spending : | $ 138 M | $ 246 M | $ 533 M |
| 2023 Median Age : | 42 | 43 | 39 |
| 2023 Total Households : | 2,371 | 4,229 | 9,465 |
| 2023 Pop Age 25+: Bachelor's Degree : | 631 | 938 | 1,967 |
| 2023 Average Home Value : | $ 142,155 | $ 141,250 | $ 140,311 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| East Main Street | Jones Rd | 2021 | 11,890 | 0.06 mi |
| East Main Street | S 7th St | 2021 | 11,890 | 0.15 mi |
| South 7th Street | E South B St | 2018 | 1,816 | 0.16 mi |
| South 7th Street | E South H St | 2021 | 1,773 | 0.16 mi |
| North 10th Street | E Main St | 2021 | 3,403 | 0.26 mi |
| East Main Street | N 6th St | 2018 | 13,588 | 0.26 mi |
| South 6th Street | E South D St | 2021 | 367 | 0.33 mi |
| South 5th Street | S 5th St | 2021 | 565 | 0.38 mi |
| East Main Street | Olynger Rd | 2021 | 11,079 | 0.44 mi |
| East North D Street | N 6th St | 2021 | 428 | 0.44 mi |
