5509 Lincoln Ave
Retail | 5.75% CAP | 7,001 SqFt
Marketing description
Matthews™ is pleased to exclusively offer for sale a single-tenant AutoZone property located at 5509 Lincoln Ave in Lisle, Illinois. This investment opportunity features an established AutoZone location with a recently extended 10-year lease term through August 2035, providing investors with nearly 10 years of remaining term backed by an investment-grade tenant.
The property is strategically positioned in Lisle, an affluent DuPage County community immediately east of Naperville, ranked as the #2 Best Suburb in the Chicago MSA. The trade area benefits from exceptionally strong demographics, with average household incomes exceeding $173,000 within a 3-mile radius. The property is situated at the signalized intersection of Maple Avenue and Lincoln Avenue, generating a combined traffic count of approximately 53,850 vehicles per day.
AutoZone recently extended its lease in December 2024, demonstrating strong store performance and commitment to the location. The property features a new roof membrane installed in 2025 with a 20-year warranty, significantly limiting near-term capital expenditure risk for investors. Additionally, AutoZone pays below-market rent at just $16.50 per square foot, well below comparable retail rents in the area, preserving long-term occupancy and future releasability.
The surrounding trade area is anchored by Jewel-Osco (Albertsons) and ALDI, alongside Walgreens, McDonald's, Starbucks, and several high-volume convenience retailers. The property is located just 2.5 miles from Morton Arboretum, a 1,700-acre regional attraction drawing approximately 1.3 million visitors annually, further enhancing the location's visibility and traffic generation.
Investment highlights
- Adjacent to Naperville, One of Chicago's Most Affluent Suburbs - Lisle sits immediately east of Naperville, which Niche ranked as the #2 Best Suburb in the Chicago MSA. Naperville received grades ranging from A- to A+ for Public Schools, Housing, Family-Friendliness, Nightlife, and Diversity. Benefiting from its proximity to this highly desirable community, the subject property serves a trade area with average household incomes exceeding $173,000 within a 3-mile radius.
- Recent Extension to 10 Years - In December 2024, AutoZone agreed to extend the lease out to 10 years with rent increases in 2025 and 2030. Extensions out to 10+ years with increases are typically strong indicators of good store performance. (tenant does no report sales)
- New Roof Membrane Installed in 2025 - New roof membrane installed in 2025 and backed by a 20-year warranty, limiting near-term capital expenditure risk.
- Below Market Rent - AutoZone pays just $16.50 PSF, well below comparable retail rents in the expanded trade area, preserving long-term occupancy and future releasability. For context, within a couple miles, a national bank is paying $56 PSF, a national retailer paying $42 PSF, and strip center is paying $36 PSF.
- "Long-term" Lease - AutoZone's lease extends through August 2035, providing nearly 10 years of remaining term. Unlike many newly developed net lease investments, this long-term lease term is the result of a recent extension, offering investors the benefit of an established operating history.
- Investment-Grade Tenant (NYSE: AZO) - AutoZone has maintained investment-grade credit ratings for more than a decade and currently boasts a market capitalization of $51.20 Billion. Additionally, the company's stock has increased approximately 120% over the past 5 years, reflecting the strength and stability of the tenant behind the lease obligations.
- Dual-Grocery Anchored Trade Area - The property benefits from traffic generated by Jewel-Osco (Albertsons) and ALDI, alongside Walgreens, McDonald's, Starbucks, and several high-volume convenience retailers.
- 1.3 Million Annual Visitors Nearby - Located just 2.5 miles from Morton Arboretum, a 1,700-acre regional attraction drawing approximately 1.3 million visitors annually.
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