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AutoZone (GL)
31487 McCabe Road, San Antonio, FL 33576
$1,477,272
Cap Rate 4.40%
$1,625,000
Cap Rate 4.00%
Views: 0 DOM: 81 Updated: 12.01.23 Posted: 08.23.23 Status: Sold 11.13.23
Summary
| Price $1,477,272 $1,625,000 | Built/Renov 2023 | Tenant AutoZone (GL) |
| Cap Rate 4.40% 4.00% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
7,381
| Lease Start
11-15-2023
| #Units
6,943
|
| Price/SF $200.15 $220.16 | Expiration
11-30-2038
| Tenant Type Automotive |
| NOI $65,000 | R. Term 14.11 | Ownership Ground Lease |
| Rent/SF
$8.81
| Increases 8.0%/5/yrs | Pop 5Mi 22,750 |
| Lot/AC 1.07 | Options 4/5yrs/8% | AHHI 5Mi $99,263 |
| | |
Lease Highlights
- Brand new 2023 construction | Projected opening November
- Tenant recently signed a brand-new 15-year ground lease with 4 (5-year) options to extend
- Lease features 8% rental increases every 5 years
- Absolute NNN lease | Zero landlord responsibilities
- Corporate guarantee by AutoZone, Inc. (NYSE: AZO)
- AutoZone is an investment grade tenant (S&P: BBB)
Location Description
AutoZone is conveniently situated at the intersection of SR 52 and Clinton Ave, where there is a daily traffic count of approximately 31,000 vehicles passing by. This intersection has recently undergone expansion as part of a significant $85 million road improvement project. This area is now a four-lane divided road, providing improved access for residents and visitors. The subject property is...
...Features
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New construction
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Shopping Ctr out-parcel
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Highway location
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Top 100 MSA
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Affluent suburb location
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New development zone
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Brand new lease
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Traded and rated company
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Corporate Guarantee
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Investment grade tenant
...
Maps
Tenant
- Tenant: AutoZone Stores, LLC
- 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 : | 624 | 13,613 | 47,848 |
| 2023 Total Population : | 620 | 12,540 | 41,315 |
| 2023 Employed Civilian Pop : | 180 | 5,038 | 18,277 |
| 2023 Total Businesses : | 82 | 254 | 679 |
| 2023 Average Household Income : | $ 144,972 | $ 112,639 | $ 112,633 |
| 2023 Total Consumer Spending : | $ 31 M | $ 389 M | $ 1411 M |
| 2023 Median Age : | 22 | 38 | 39 |
| 2023 Total Households : | 255 | 3,986 | 14,422 |
| 2023 Pop Age 25+: Bachelor's Degree : | 41 | 1,792 | 6,119 |
| 2023 Average Home Value : | $ 460,340 | $ 409,619 | $ 357,563 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| State Hwy 52 | Schambeau Rd | 2011 | 12,900 | 0.62 mi |
| Curley Rd | Ohio Ave | 2010 | 4,596 | 0.63 mi |
| Curley Rd | Hwy 579A | 2010 | 4,942 | 0.72 mi |
| FL 52 | Edward Ct | 2021 | 13,200 | 0.90 mi |
| State Hwy 52 | Campus Dr | 2001 | 10,000 | 0.94 mi |
| Prospect Road | Hwy 579A | 2021 | 4,200 | 1.07 mi |
| Curley Rd | Michigan Ave | 2010 | 3,327 | 1.14 mi |
| Curley Road | Tyndall Rd | 2021 | 9,700 | 1.51 mi |
| Prospect Rd | Williams Cemetery Rd | 2007 | 2,988 | 1.74 mi |
| Pasco Rd | Rinaldi Rd | 2009 | 867 | 1.80 mi |
