Available $1,500,000 - Retail - Single Tenant
Investment Offering & Highlights
- Bite size Northern California net lease investment opportunity with strong real estate fundamentals
- New 15-year NNN ground lease with fixed rent increase every 5 years
- AutoZone reported 2020 revenues of $12.63 billion and maintains a BBB investment grade credit rating by S&P
- AutoZone stock is currently trading near its all-time high at almost $1,200 per share
- AutoZone Q4 2019 same store sales increase 21.8% (Aftermarket News)
Property Description
Leased to AutoZone Parts, Inc. for over 14 years expiring June 30, 2035. The rent increases by 7.5% after Year 5 and 10% every 5 years thereafter. There are four 5-year options to extend the lease. The lease is triple net with the tenant responsible for taxes, insurance, repairs and maintenance, including roof and structure. AutoZone reimburses Landlord for CAM at a fixed rate of $12,500 in Year 1 with 2% annual increases.
This property is being offered along with a multi-tenant PAD and three other neighboring NNN retail properties, Lowe’s, Panda Express, and Sonic. The properties can be acquired individually or as a portfolio. Please use the following links to access the neighboring properties:
Lowe’s – $15,120,000
Panda Express – $2,870,000
Sonic – $2,330,000
Multi-Tenant PAD – Best Offer
Please use the following link to access the full OM: https://www.crexi.com/properties/503753/california-autozone—stockton-ca