AutoZone Ground Lease,
Sharpsburg, GA Investment Summary
| Price | $2,152,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 15 Years |
| Lease Type | Absolute NNN Ground Lease, With Tenant Responsible For All Taxes, Insurance, Maintenance, And Repair, Including Roof, Structure, And Parking Lot |
| Rental Increases | 6% Rental Increases Every Five (5) Years |
| Year Built | 2021 |
| Building Size | 7,381 SF |
| Lot Size | 1.1 Acres (47,893 SF) |
| Status | Sold |
| Lead Brokers | Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Executive Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Vincent Aicale Executive Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Executive Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
15-YEAR ABSOLUTE NNN GROUND LEASE TO EXCEPTIONAL TENANT
» 15-year absolute NNN ground lease to AutoZone (NYSE: “AZO”)
» Enhanced new 2021 all-masonry construction featuring latest AutoZone store prototype
» Five percent rental increases in option periods, providing an excellent hedge against inflation
» No landlord management, ideal for an out of area investor
» Tenant is responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot
HIGH-TRAFIFIC LOCATION IN DENSE AND AFFLUENT AREA
» Located along state Route 34 (41,200 AADT), a major east-west thoroughfare greatly increasing accessibility and traffic to the site
» Property services a robustly affluent area, with an average annual household income of $126,458 within a five-mile radius of the location
» 64,093 residents live within five miles of the location, establishing regular local traffic to the property
» Projected 10 percent average annual household income increase within five miles of the site in the next five years, poising Peachtree for significant growth
» Peachtree City ranked #1 on Expedia’s “19 Cities That Must Be Seen in 2019” list
CENTRAL LOCATION NEAR LARGE SCHOOLS, RETAILERS, AND COMMUNITY HUBS
» Central location in power center anchored by Sam’s Club and Costco
» Surrounded by a strong mix of well-established national retailers, including Sam’s Club, Costco, Wendy’s, Popeyes, Express Oil Change, Waffle House, NCG Cinema, and many more
» Across the road from Trinity Christian School with 1,183 Students and the Peachtree City Tennis Center with 22 courts
Property Description
SOLD
The property is located along State Route 34 (41,200 AADT), a major east-west thoroughfare greatly increasing accessibility and traffic to the site. The property services a robustly affluent area, with an average annual household income of $126,458 within a five-mile radius of the location. The property is primed to grow along with the surrounding area, with a projected 10 percent average annual household income increase within a five mile radius of the site in the next five years.
The property is centrally located in a power center anchored by Sam’s Club and Costco. The site is surrounded by a strong mix of national and local retailers, including Sam’s Club, Costco, Wendy’s, Popeyes, Express Oil Change, Waffle House, NCG Cinema and many more. Visibility is also increased by the site’s location 1.5 miles from the only Walmart Supercenter within a 20-minute drive from the property. The location is perfectly situated to service Trinity Christian School with 1,183 students and the Peachtree City Tennis Center with 22 courts, greatly increasing day-time traffic to the property.
