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AutoZone (GL)
1839 W Clinton Ave, Fresno, CA 93705
$2,200,000
Cap Rate 4.55%
Summary
| Price $2,200,000 | Built/Renov 2022 | Tenant AutoZone (GL) |
| Cap Rate 4.55% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
6,816
| Lease Start
03-01-2023
| #Units
6,943
|
| Price/SF $322.77 | Expiration
02-28-2038
| Tenant Type Automotive |
| NOI $100,000 | R. Term 14.2 | Ownership Ground Lease |
| Rent/SF
$14.67
| Increases 6.5%/5/yrs | Pop 5Mi 330,100 |
| Lot/AC 0.86 | Options 3/5yrs/10% | AHHI 5Mi $61,173 |
| | |
Lease Highlights
- AutoZone (NYSE: AZO) is an investment grade tenant
- Brand new construction
- Lease is absolute NNN
- 4, 5 year options
- Approximately 6.50% increase in option 1 & 10% increases thereafter
Location Description
AutoZone, the subject property is well positioned at the intersection of Clinton Ave and Weber Ave just off Freeway 99 which sees over 108,200 vehicles per day. Additionally, the subject property is directly adjacent to a grocery anchored shopping center anchored by Vallarta Supermarkets and benefits from access off both Weber Ave and Clinton Ave. Moreover, the property is near Fresno City...
...Features
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New construction
-
High traffic 50M+ VPD
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Highway location
-
Dense 200M+ pop 5 mi
-
Top 100 MSA
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Brand new lease
-
Long 15+ yr lease
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Absolute NNN
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Traded and rated company
-
Investment grade tenant
...
Maps
Tenant
- Tenant: AutoZone
- Guarantor:Corp T and Rated
- Company:Auto Zone, 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.,...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2027 Total Population : | 21,842 | 133,526 | 332,696 |
| 2022 Total Population : | 21,709 | 133,878 | 332,056 |
| 2022 Employed Civilian Pop : | 7,699 | 52,938 | 130,910 |
| 2022 Total Businesses : | 506 | 5,034 | 13,631 |
| 2022 Average Household Income : | $ 52,838 | $ 68,443 | $ 72,511 |
| 2022 Total Consumer Spending : | $ 311 M | $ 2636 M | $ 6857 M |
| 2022 Median Age : | 30 | 32 | 32 |
| 2022 Total Households : | 6,793 | 44,460 | 109,280 |
| 2022 Pop Age 25+: Bachelor's Degree : | 1,274 | 10,809 | 28,277 |
| 2022 Average Home Value : | $ 230,238 | $ 321,123 | $ 341,751 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| N Weber Ave | W Clinton Ave | 2006 | 5,447 | 0.03 mi |
| W Clinton Ave | N Crystal Ave | 2007 | 18,900 | 0.09 mi |
| N Weber Ave | N Hughes Ave | 2008 | 22,899 | 0.14 mi |
| W Clinton Ave | N Warren Ave | 2007 | 17,740 | 0.17 mi |
| N Hughes Ave | W Brown Ave | 2013 | 6,689 | 0.23 mi |
| N Weber Ave | N Hughes Ave | 2008 | 18,038 | 0.29 mi |
| W Clinton Ave | N West Ave | 2011 | 20,172 | 0.31 mi |
| State Rte 99 | W McKinley Ave | 2017 | 120,000 | 0.34 mi |
| 99 | 2018 | 112,000 | 0.36 mi | |
| N West Ave | W TerAve | 2013 | 16,601 | 0.37 mi |
