Listed by Friedman Real Estate, Friedman Real Estate IL LLC
$845,000
AutoZone
Details
APN 124-20655
Property Type Retail
Sub Type Storefront
Square Footage 7,749
Cap Rate 6.25%
NOI $52,800
Tenancy Single
Brand/Tenant AutoZone, S&P c redit rating: BBB | Investment Grade Tenant
Lease Type NN
Lease Term 10
Lease Expiration 07/30/2034
Remaining Term 8
Rent Bumps Yes
Lease Options (3) 5 -Year Options
Year Built 1976
Year Renovated 2022
Acreage 1.030
Tenant Credit Credit Rated
Rent Commencement 07/30/2024
2234 Prairie Ave, Beloit, WI 53511-2622
Marketing description
Friedman Real Estate has a new Retail For Sale listing at 2234 Prairie Ave, Beloit, Wisconsin.
Investment highlights
- AutoZone has occupied this location since 1998, and renewed their lease in 2023 for an additional 10 years. Showing a long-term commitment to this location
- New roof and parking lot installed in 2022. Roof comes with a 20-year transferable warranty
- 6.8% rental increase in 2029, and 7.5% rental increases in each option period
- S&P credit rating: BBB | Investment Grade Tenant
- The subject property is strategically located in a dense retail corridor with national tenant such as Walmart, Buffalo Wild Wings, Piggly Wiggly, Menards, Starbucks
- Subject property is conveniently located near Beloit Memorial Hospital, which employs 3,000 individuals
- Subject property is located near a highly trafficked intersection with a boasting +24,800 VPD
Listing Contacts
Listed by Friedman Real Estate, Friedman Real Estate IL LLC
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$52,800.00
$4,400.00/mo
Valuation Metrics
0
DSCR
6.25%
Cap Rate
6.25%
ROI
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