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AutoZone (GL)
490 Ritchie Hwy, Severna Park, MD 21146
$2,550,000
Cap Rate 4.38%
Summary
| Price $2,550,000 | Built/Renov 2002 | Tenant AutoZone (GL) |
| Cap Rate 4.38% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
7,200
| Lease Start
05-01-2002
| #Units
6,943
|
| Price/SF $354.17 | Expiration
05-01-2027
| Tenant Type Automotive |
| NOI $111,804 | R. Term 3.4 | Ownership Ground Lease |
| Rent/SF
$15.53
| Increases 10.0%/4/yrs | Pop 5Mi 136,286 |
| Lot/AC 1.03 | Options 3/5yrs/10% | AHHI 5Mi $167,556 |
| | |
Lease Highlights
- AutoZone has been operating in this location since 2002
- Tenant has 3+ years remaining on the current lease term with 3 (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 lease | Zero landlord responsibilities
- Corporate guarantee by AutoZone, Inc. (NYSE: AZO)
Location Description
AutoZone is strategically located fronting Ritchie Highway, which averages 65,400 vehicles per day. The asset has excellent visibility and access and is surrounded by major national retailers such as Chick-fil-A, McDonald’s, Kohl’s, Giant Food, and more, providing a strong consumer draw to the immediate trade area. The site also benefits from strong demographics, with more than 136,000...
...Features
-
In location for years
-
High traffic 50M+ VPD
-
Near major nationals
-
Highway location
-
Top 100 MSA
-
Strong demographics
-
Long operation history
-
Absolute NNN
-
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 : | 7,965 | 48,847 | 137,146 |
| 2023 Total Population : | 7,999 | 48,832 | 136,577 |
| 2023 Employed Civilian Pop : | 4,087 | 26,486 | 74,520 |
| 2023 Total Businesses : | 477 | 1,542 | 4,093 |
| 2023 Average Household Income : | $ 215,680 | $ 202,898 | $ 172,908 |
| 2023 Total Consumer Spending : | $ 476 M | $ 2900 M | $ 7144 M |
| 2023 Median Age : | 46 | 46 | 42 |
| 2023 Total Households : | 2,659 | 17,206 | 49,235 |
| 2023 Pop Age 25+: Bachelor's Degree : | 1,803 | 10,527 | 25,974 |
| 2023 Average Home Value : | $ 697,862 | $ 663,729 | $ 585,375 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| Robinson Rd | Ritchie Hwy | 2012 | 9,590 | 0.07 mi |
| Kimberly Ct | Marbury Rd | 2001 | 2,305 | 0.17 mi |
| Governor Ritchie Highway | Old Annapolis Rd | 2018 | 53,101 | 0.19 mi |
| Ritchie Hwy | Town Neck Rd | 2011 | 56,220 | 0.20 mi |
| Robinson Road | Odonnel Ct | 2017 | 10,982 | 0.20 mi |
| Old Annapolis Rd | Kimberly Ct | 2018 | 9,632 | 0.20 mi |
| Kimberly Ct | Marbury Rd | 2001 | 2,038 | 0.22 mi |
| Arundel Beach Rd | Leelyn Dr | 2018 | 2,881 | 0.27 mi |
| Robinson Rd | Thomas Way | 2020 | 10,112 | 0.29 mi |
| Ritchie Hwy | Haas Ct | 2012 | 51,451 | 0.33 mi |
