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AutoZone (GL)
16018 Kedzie Avenue, Markham, IL 60428
$1,070,000
Cap Rate 5.25%
Summary
| Price $1,070,000 | Built/Renov 2005 | Tenant AutoZone (GL) |
| Cap Rate 5.25% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
8,700
| Lease Start
09-01-2023
| #Units
6,943
|
| Price/SF $122.99 | Expiration
09-01-2025
| Tenant Type Automotive |
| NOI $56,179 | R. Term 1.8 | Ownership Ground Lease |
| Rent/SF
$6.46
| Increases 10.0%/2/yrs | Pop 5Mi 228,336 |
| Lot/AC 0.60 | Options 4/5yrs/10% | AHHI 5Mi $87,525 |
| | |
Lease Highlights
- The tenant has 1+ years of firm term remaining on their current lease with 4 (5-year) option periods to extend
- The ground lease features 10% rental increases at the beginning of each option period
- The lease is signed by a subsidiary of the corporate entity
- AutoZone is an investment grade tenant (S&P: BBB)
Location Description
AutoZone is strategically located near the signalized, hard corner intersection of Kedzie Avenue and U.S. Highway 6, averaging a combined 50,200 vehicles passing by daily. The asset benefits from direct access onto Interstate 57 (137,400 VPD), Interstate 80 (95,000 VPD), Interstate 294 (135,300 VPD), and several State/U.S. Highways, making this a centralized location with easy commutes for...
...Features
-
High traffic 50M+ VPD
-
Dense retail corridor
-
Freeway close
-
Highway close
-
Top 100 MSA
-
Strong demographics
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Absolute NNN
-
Traded and rated company
-
Investment grade tenant
-
Subsidiary guarantee
...
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 : | 6,844 | 85,426 | 222,745 |
| 2023 Total Population : | 7,000 | 86,654 | 226,967 |
| 2023 Employed Civilian Pop : | 2,636 | 38,009 | 103,963 |
| 2023 Total Businesses : | 240 | 2,425 | 7,014 |
| 2023 Average Household Income : | $ 68,074 | $ 76,466 | $ 84,796 |
| 2023 Total Consumer Spending : | $ 134 M | $ 2041 M | $ 6219 M |
| 2023 Median Age : | 37 | 37 | 39 |
| 2023 Total Households : | 2,264 | 30,791 | 85,104 |
| 2023 Pop Age 25+: Bachelor's Degree : | 646 | 8,420 | 26,898 |
| 2023 Average Home Value : | $ 140,436 | $ 184,400 | $ 213,033 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| W 159th St | Whipple Ave | 2013 | 31,900 | 0.25 mi |
| Kedzie Ave | 162nd St | 2014 | 18,300 | 0.26 mi |
| Richmond Ave | Sherwood Ave | 2014 | 950 | 0.37 mi |
| West 159th Street | Trumbull Ave | 2019 | 27,200 | 0.39 mi |
| 163rd St | Homan Ave | 2014 | 950 | 0.40 mi |
| US 6 | 2021 | 20,500 | 0.40 mi | |
| US 6 | 2021 | 29,100 | 0.40 mi | |
| Richmond Avenue | Sussex Ave | 2018 | 1,400 | 0.42 mi |
| Richmond Ave | Stafford Dr | 2014 | 950 | 0.42 mi |
| Central Park Ave | Arthur Ter | 2014 | 1,050 | 0.51 mi |
