Listed by Marcus & Millichap - Manhattan
$1,638,709
AutoZone - Research Triangle - Top Performing NC Store
Details
APN 9864901483
Property Type Retail
Sub Type QSR/Fast Food, Storefront
Square Footage 6,795
Net Rentable (SqFt) 6,795
Units 1
Cap Rate 4.65%
NOI $76,200
Occupancy 100%
Tenancy Single
Brand/Tenant AutoZone
Lease Type Absolute NNN
Lease Term 30.8
Lease Expiration 02/27/2035
Remaining Term 8.6
Rent Bumps Yes
Lease Options 1, 10-Year; 2, 5-Year
Pro-Forma Cap Rate 4.65%
Pro-Forma NOI $76,200
Price per SqFt $241
Class A
Year Built 2004
Stories 1
Lot Size (SqFt) 49,391
Zoning Commercial
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 05/27/2004
Ground Lease Yes
Immediately Adjacent to New 950-Unit Residential Community
Marketing description
General • 6,795 SF
Investment highlights
- Hyper-Secure Ground Lease AutoZone Investment: NNN Ground Leased AutoZone at the Signalized Intersection of South Churton Street and Mayo Street w/ 23,000 Cars Passing Daily and Nearly 9 Years Remaining on a Corporate Lease w/ Low Replaceable Rent
- Top Performing Store Located Just Off I-85: Top Performing Store Ranking in the Top 20 Percent of All AutoZones in North Carolina Per Placer.ai Primed for Additional Growth with Its Position Immediately Off I-85 (55,000 Cars Daily)
- Across from Brand New 950 Unit DR Horton Community: Site Benefits from Material Population Growth Accommodate by Collins Ridge, a Brand New 950 Unit Master Planned Community Positioned Less Than One-Quarter Mile from AutoZone
- Rare Research Triangle Investment Opportunity: Rare Opportunity to Acquire a Corporate Net Lease Investment Within North Carolina’s Research Triangle, One of the Most Dynamic and Fastest Growing Regions in the United States
- Affluent, Growing Population to Support Store Growth: AutoZone Customer Activity Projected to Expand w/ Population Growth Expected to Reach Nearly 3 Percent Between 2025 and 2030 w/ Average Household Income Over $124,000 Within a 5-Mile Radius
- Surrounded by a Host of National Leading Retailers: AutoZone Customer Traffic is Bolstered by Retail Synergies Generated by National Retail Tenants Including Wendy’s, Taco Bell, Hardee’s, Waffle House, and Bojangles, Among Many Others
Listing Contacts
Listed by Marcus & Millichap - Manhattan
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$76,200.00
$6,350.00/mo
Valuation Metrics
0
DSCR
4.65%
Cap Rate
4.65%
ROI
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