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AutoZone (GL)
13759 Beach Boulevard, Jacksonville, FL 32224
$2,200,000
Cap Rate 5.14%
$2,435,000
Cap Rate 4.64%
Views: 0 DOM: 51 Updated: 11.30.23 Posted: 08.11.23 Status: Sold 10.01.23
Summary
| Price $2,200,000 $2,435,000 | Built/Renov 2018 | Tenant AutoZone (GL) |
| Cap Rate 5.14% 4.64% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
7,600
| Lease Start
01-25-2019
| #Units
6,943
|
| Price/SF $289.47 $320.39 | Expiration
01-31-2034
| Tenant Type Automotive |
| NOI $113,000 | R. Term 10.1 | Ownership Ground Lease |
| Rent/SF
$14.87
| Increases 10.0%/1/yrs | Pop 5Mi 172,147 |
| Lot/AC 1.00 | Options 7/5yrs/10% | AHHI 5Mi $113,309 |
| | |
Lease Highlights
- AutoZone has over 10 years remaining on the current lease term with 7 (5-year) options to extend
- Lease features a 10% rental increase every 5 years throughout the initial term and at the start of each option
- Absolute NNN | Zero landlord responsibilities
- Corporate guarantee by AutoZone, Inc. (NYSE: AZO)
- AutoZone is an investment grade tenant (S&P: BBB)
Location Description
AutoZone is strategically located at the hard corner intersection of Beach Boulevard and Gerona Drive East seeing over 45,000 vehicles per day. The site is directly across from Pablo Creek Plaza, a Target anchored shopping center, with tenants including Game Stop, Dollar Tree, Michaels and more. Additional national/credit tenants in the area include Pizza Hut, Smoothie King, Bank of America,...
...Features
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Hard corner intersection
-
Build to suit
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Major thoroughfare
-
Highway location
-
Top 100 MSA
-
Income tax free state
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Absolute NNN
-
Long 10+ yr lease
-
Traded and rated company
-
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 : | 13,027 | 77,632 | 177,428 |
| 2023 Total Population : | 11,533 | 75,007 | 172,817 |
| 2023 Employed Civilian Pop : | 5,876 | 40,803 | 96,670 |
| 2023 Total Businesses : | 513 | 2,239 | 7,756 |
| 2023 Average Household Income : | $ 135,918 | $ 123,214 | $ 119,758 |
| 2023 Total Consumer Spending : | $ 545 M | $ 3306 M | $ 7429 M |
| 2023 Median Age : | 39 | 38 | 38 |
| 2023 Total Households : | 4,626 | 31,213 | 72,055 |
| 2023 Pop Age 25+: Bachelor's Degree : | 2,373 | 16,802 | 39,416 |
| 2023 Average Home Value : | $ 389,213 | $ 422,545 | $ 431,000 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| Hodges Blvd | Fario Rd | 2010 | 32,858 | 0.23 mi |
| Hodges Boulevard | Beach Blvd | 2021 | 24,000 | 0.30 mi |
| Beach Boulevard | Beach Blvd | 2021 | 36,500 | 0.40 mi |
| Beach Blvd | San Pablo Rd | 2010 | 41,500 | 0.97 mi |
| San Pablo Rd | Beach Blvd | 2010 | 27,014 | 1.04 mi |
| San Pablo Rd | Beach Blvd | 2010 | 23,357 | 1.04 mi |
| Beach Boulevard | Highland Glen Bv | 2021 | 41,000 | 1.10 mi |
| San Pablo Road South | Seven Pines Dr | 2021 | 20,500 | 1.25 mi |
| San Pablo Parkway | Crosswater Blvd | 2021 | 26,000 | 1.42 mi |
| Beach Blvd | Station Creek Rd | 2010 | 46,500 | 1.56 mi |
