Listed by Mid-America Real Estate
$1,050,000
AutoZone Diamond, Illinois
Details
Property Type Retail
Sub Type Auto Shop
Square Footage 7,381
Cap Rate 4.75%
NOI $50,000
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 15
Lease Expiration 07/31/2041
Rent Bumps Yes
Lease Options Six, 5-year
Class A
Year Built 2026
Acreage 0.880
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 08/01/2026
Retail | 4.75% CAP | 7,381 SqFt
Marketing description
Mid-America Real Estate Corporation has been retained on behalf of the owner to sell the freestanding AutoZone ground lease investment (currently under construction) just east of the fully signalized intersection of Division Street (State Route 113) and Will Road, Diamond, Illinois. The subject offering features a corporately guaranteed 15-year NNN ground lease as an outlot to a new Jewel-Osco prototype which has been open since October 2024 and anchors a 40-acre development.
Investment highlights
- 15 YEAR NNN GROUND LEASE | NEAR TERM 7% RENT ESCALATION - The subject property features a corporately guaranteed NNN ground lease with 15 years of primary term remaining and six (6), five-year renewal options. Investors will benefit from consistent cash flow growth with 7% rent escalations scheduled every five years throughout the base and option periods.
- BEST IN CLASS TENANT | INVESTMENT-GRADE CREDIT PROFILE - AutoZone carries investment-grade credit ratings of BBB from S&P and Baa1 from Moody's, reflecting the company's financial strength, consistent cash flow generation, and disciplined capital allocation strategy. With a track record of 40 consecutive years of comparable store sales growth, AutoZone maintains industry-leading margins and year-to-date sales growth of 8.2%.
- OUTLOT TO #1 GROCER IN THE MARKET | JEWEL-OSCO - The subject property is positioned as an outlot to Diamond Marketplace Shopping Center, which is anchored by Jewel-Osco, the #1 grocer in the market. The Jewel-Osco is brand new construction and opened in October 2024. The grocer draws over 1 million visitors to the shopping center each year and is in the top 7% of grocers nationally per Placer.ai. Since Jewel-Osco's entry into the center, this market now exceeds $100 million in food and drug sales, with this particular location also featuring a pharmacy drive-through and a full-service Starbucks with indoor and outdoor seating.
- TENANT OVERVIEW - AutoZone is one of the most iconic and dominant retail brands in the United States, ranking as the nation's leading retailer and distributor of automotive replacement parts, accessories, and maintenance items. With over 7,000 locations across the United States, Mexico, and Brazil, the brand maintains an expansive and growing domestic and international footprint driven by its reputation for knowledgeable customer service and a broad, in-stock product selection. AutoZone has delivered 54 consecutive years of revenue growth, a testament to the concept's enduring demand, recession-resistant business model, and consistent execution across all market cycles.
- MULTIPLE POINTS OF ACCESS FROM MAIN THOROUGHFARE - The subject property demonstrates strong real estate fundamentals, benefiting from exceptional visibility and access within one of Diamond's most trafficked retail corridors. The site has convenient ingress and egress for eastbound & westbound traffic along Division Street (State Route 113) and north/southbound traffic along Will Road, providing seamless accessibility for the surrounding trade area. The property further benefits from strong consumer demand drivers in the immediate trade area, with the two nearest AutoZone locations situated approximately 11 and 14 miles away, a 22- to 23-minute drive, in Minooka and Morris, respectively. The surrounding trade area is further bolstered by the proximity of CenterPoint Intermodal Center in Elwood, one of the largest inland ports in North America, which generates thousands of blue-collar, vehicle-dependent employees. Strategically positioned just west of the interchange at Division Street (State Route 113) and Interstate 55 (31,400 VPD), the property captures significant exposure from one of the region's primary north/south arteries.
Listing Contacts
Listed by Mid-America Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$50,000.00
$4,166.67/mo
Valuation Metrics
0
DSCR
4.76%
Cap Rate
4.76%
ROI
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