Severna Park, MD - AutoZone

Description:

• AutoZone has operated at this location for 20+ years and has 3+ years remaining on their lease with 3 (5-year) options to extend
• The lease features 10% rental increases at the beginning of each option period, growing NOI and hedging against inflation
• AutoZone is the leading retailer and a leading distributor of automotive replacement parts and accessories with more than 6,000 locations in the United States, Puerto Rico, Mexico, and Brazil
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• Landlord benefits from leased fee interest (land ownership)
• No landlord responsibilities
• Ideal, management-free investment for a passive investor

• AutoZone is strategically fronting Ritchie Highway averaging 65,400 VPD
• The immediate trade area is supported by surrounding retailers such as Chick-fil-A, McDonald’s, Kohl’s, Giant Food, and more
• Ideally positioned down the street from Severna Park High School (1,180-students), providing a direct consumer base from which to draw
• The asset has excellent visibility and access
• More than 136,000 residents and 36,000 employees support the trade area
• $214,856 average household income
• According to an article in the Severna Park Voice, “The demand for retail space in both Severna Park and Arnold continues to outpace the supply . . . Severna Park has become one of the most difficult Baltimore-Washington, D.C. submarkets for securing quality commercial and retail space, more than Waugh Chapel in Gambrills and even Annapolis.”