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AutoZone
1420 North Main Street, Orrville, OH 44667
$2,080,000
Cap Rate 5.25%
Summary
| Price $2,080,000 | Built/Renov 2007 | Tenant AutoZone |
| Cap Rate 5.25% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
6,786
| Lease Start
01-01-2008
| #Units
6,943
|
| Price/SF $306.51 | Expiration
01-31-2033
| Tenant Type Automotive |
| NOI $109,200 | R. Term 9.1 | Ownership Fee Simple |
| Rent/SF
$16.09
| Increases 10.0%/5/yrs | Pop 5Mi 18,519 |
| Lot/AC 0.86 | Options 4/5yrs/10% | AHHI 5Mi $71,515 |
| | |
Lease Highlights
- Long and successful operating history at this location (since 2008)
- Top 10% of all AutoZone locations in Ohio and #1 of 26 in a 30 mile radius
- Tenant has approximately 10 years remaining on the lease and recently signed a 5-year extension
- Lease features 4 (5-year) options to extend with 10% rental increases in each option period
- Absolute NNN with zero landlord responsibilities
- Corporate guaranteed lease by AutoZone, Inc.
Location Description
Auto Zone is strategically located on North Main Street/State Highway 57, and is a major north-south thoroughfare for Orrville and its surrounding areas. The subject property is adjacent to some of the city’s largest employers. It is less than a 5-minute drive from J.M. Smucker Company headquarters (1,900+ employees), Smith Foods (230+ employees), and Aultman Orrville Hospital (230 employees)....
...Features
-
In location for years
-
Major thoroughfare
-
Strategically located
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Long operation history
-
Recently extended lease
-
Absolute NNN
-
Top performing store
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Traded and rated company
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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 : | 1,551 | 10,740 | 18,286 |
| 2023 Total Population : | 1,573 | 10,921 | 18,562 |
| 2023 Employed Civilian Pop : | 695 | 5,352 | 9,172 |
| 2023 Total Businesses : | 128 | 349 | 584 |
| 2023 Average Household Income : | $ 78,550 | $ 81,621 | $ 84,245 |
| 2023 Total Consumer Spending : | $ 45 M | $ 317 M | $ 523 M |
| 2023 Median Age : | 41 | 42 | 42 |
| 2023 Total Households : | 666 | 4,454 | 7,142 |
| 2023 Pop Age 25+: Bachelor's Degree : | 172 | 1,385 | 2,242 |
| 2023 Average Home Value : | $ 189,153 | $ 212,333 | $ 234,411 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| North Main Street | Hostetler Rd | 2021 | 9,346 | 0.11 mi |
| Hostetler Road | Sterling Ave | 2021 | 3,427 | 0.35 mi |
| Mineral Spring Street | N Main St | 2021 | 1,824 | 0.46 mi |
| Olive Street | N Ella St | 2021 | 598 | 0.47 mi |
| North Vine Street | Union St | 2021 | 1,663 | 0.68 mi |
| N Main St | Wadsworth Rd | 2000 | 9,150 | 0.69 mi |
| Strawberry Lane | N Mill St | 2021 | 447 | 0.70 mi |
| North Elm Street | Mineral Spring St | 2021 | 1,535 | 0.77 mi |
| Orr Street | N Main St | 2021 | 2,927 | 0.84 mi |
| Hostetler Road | Strawbridge Pl | 2021 | 2,763 | 0.85 mi |
