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Views: 71 DOM: 89 Updated: 10.06.24 Posted: 09.04.24 Status: Active

Summary

Price $804,000
Built/Renov 1960
Tenant AutoZone
Cap Rate 5.00%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 8,000
Lease Start 01-23-1996
#Units 7,140
Price/SF $100.50
Expiration 09-30-2034
Tenant Type Automotive
NOI $40,200
R. Term 9.10
Ownership Fee Simple
Rent/SF $5.03
Increases 0.0%/0/yrs
Pop 5Mi 104,744
Lot/AC 0.67
Options 4/5yrs
AHHI 5Mi $115,838

Lease Highlights

  • AutoZone has been operating in this location for over 20 years
  • Tenant recently extended its lease an additional 10 years with 4 (5-year) options to extend
  • New roof installed in 2020 | HVAC replaced in 2017
  • The lease features $0.30 PSF rent increases every 5 years
  • Strong performing store | Ranked in the top 35% of stores in the State
  • Corporate guarantee | Investment grade tenant

Location Description

AutoZone is strategically located on Reynolda Road, with access to 20,000 vehicles passing by daily. This top-performing property ranks in the top 35% among 222 stores in the state. Additionally, it benefits from direct access to Wake Forest University, one of the top-ranked schools in the country, with over 8,950 students just a few miles away. The immediate area features well-known national...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: AutoZone
  • Guarantor:Corp T and Rated
  • Company:AutoZone, Inc.
  • # Units:7,140
  • 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 7,140 stores in 50 in the U.S., Mexico,...


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