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Views: 156 DOM: 286 Updated: 08.06.24 Posted: 02.20.24 Status: Active

Summary

Price $1,633,333
Built/Renov 2020
Tenant AutoZone (GL)
Cap Rate 4.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 7,385
Lease Start 02-21-2024
#Units 7,140
Price/SF $221.17
Expiration 02-20-2039
Tenant Type Automotive
NOI $73,500
R. Term 14.2
Ownership Ground Lease
Rent/SF $9.95
Increases 5.0%/5/yrs
Pop 5Mi 271,125
Lot/AC 0.62
Options 4/5yrs/8%
AHHI 5Mi $78,074

Lease Highlights

  • AutoZone recently executed a brand-new 15-year ground lease with 4 (5-year) options to extend
  • The lease features 5% rental escalations every 5 years throughout the initial term and 8% at the beginning of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

AutoZone is strategically located on Ulmerton Road, with access to a robust daily traffic count of 57,000 vehicles. The property is situated in front of a brand-new Hilton Home 2 Suites Hotel and shares parking with a busy strip center featuring Five Guys and Wing Stop. Additionally, it is located down the street from a very busy Publix Supermarket and Home Depot, and across the street from...

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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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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 11,315 114,437 271,799
2023 Total Population : 11,471 115,347 273,743
2023 Employed Civilian Pop : 5,123 60,114 139,292
2023 Total Businesses : 758 5,241 13,615
2023 Average Household Income : $ 69,948 $ 82,565 $ 91,751
2023 Total Consumer Spending : $ 367 M $ 3907 M $ 9953 M
2023 Median Age : 64 52 51
2023 Total Households : 5,985 54,356 124,901
2023 Pop Age 25+: Bachelor's Degree : 1,596 18,200 47,030
2023 Average Home Value : $ 176,684 $ 296,615 $ 362,970
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Ulmerton Rd Block Blvd 2011 50,500 0.18 mi
Ulmerton Rd Washington Ave 2000 53,050 0.26 mi
Ulmerton Road Washington Ave 2022 62,500 0.30 mi
Seminole Blvd 23rd Ave SW 2010 36,500 0.45 mi
Seminole Blvd Ulmerton Rd 2011 34,522 0.48 mi
Seminole Blvd Sea Oats Dr 2011 36,000 0.52 mi
Lake Ave SE 20th Ave SE 2011 5,100 0.55 mi
Ulmerton Rd Seminole Blvd 2011 38,500 0.56 mi
20th Avenue Southeast 20th Ave SE 2022 4,900 0.57 mi
Ulmerton Rd Southwind Ln 2011 53,500 0.62 mi

Listing Broker

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