Autozone | Absolute NNN Fee Simple Ground Lease

Highlights:

• 100% Fee Simple Interest in Land
• Absolute NNN Ground Lease- Zero Landlord Obligations
• Corporate Guarantee by AutoZone, Inc., a Nevada Corporation
• S&P Rated BBB Investment Grade Credit
• Advantageous Location along a Dense Retail Corridor (47,000+ VPD)
• Nearby State Route 5, 340, 270 70 and Direct Access into Downtown Frederick
• Desirable Demographics - 130,814 Residents within a 5-Mile Radius
• Projected population growth of 8.87% by 2028 in Frederick
• Neighboring tenants include The Home Depot, Boscov's, ALDI, Dollar Tree, Taco Bell, Ollie's Bargain Outlet, 7-Eleven, H Mart, Chipotle Mexican Grill, Outback Steakhouse, Bank of America, FedEx Office Print & Ship Center, Walgreens, KFC, Arby's, Wendy's, Denny's, Dunkin' Donuts, Petco, Dollar General, McDonald's, Subway, Giant Eagle Supermarket, AT&T Store & more

Description:

This is an opportunity to purchase the 100% fee simple interest in a well established AutoZone located in Frederick, Maryland. The absolute NNN ground Lease calls for zero landlord obligations and is corporately guaranteed by AutoZone, Inc., a Nevada Corporation. The property's income stream benefits from a 6% rental increase in 2029. The lease expires in 2040 with six 5-year renewal options and 8% rental increases at each option. The asset is well located along West Patrick Street, the busiest road in the city used by more than 47,000 vehicles per day and boasts nearby access to Route 5, 340, 270, 70 & Downtown Frederick. The site benefits from dense demographics in the area with 130,814 residents living within a 5-mile radius and a projected population growth of 8.87% in the city of Frederick by 2028. The city is near completion of the Golden Mile Multimodal Lane project, including a 10-foot shared-use path along the northern edge of the westbound lanes of West Patrick Street which will provide a safe walkway for pedestrians and additionally increase foot traffic to surrounding businesses. Neighboring tenants include The Home Depot, Boscov's, ALDI, Dollar Tree, Taco Bell, Ollie's Bargain Outlet, 7-Eleven, H Mart, Chipotle Mexican Grill, Outback Steakhouse, Bank of America, FedEx Office Print & Ship Center, Walgreens, KFC, Arby's, Wendy's, Denny's, Dunkin' Donuts, Petco, Dollar General, McDonald's, Subway, Giant Eagle Supermarket, AT&T Store & more.

LOCATION DESCRIPTION
Frederick is a city in, and the county seat of, Frederick County, Maryland, United States. Frederick's population was 78,171 people as of the 2020 census, making it the second-largest incorporated city in Maryland behind Baltimore. It is a part of the Washington metropolitan area and the greater Washington–Baltimore combined statistical area. The city is located at an important crossroads at the intersection of a major north–south Native American trail and east–west routes to the Chesapeake Bay, both at Baltimore and what became Washington, D.C., and across the Appalachian Mountains to the Ohio River watershed. Frederick is home to Frederick Municipal Airport (IATA: FDK), which accommodates general aviation, and Fort Detrick, a U.S. Army bioscience and communications research installation and Frederick County's largest employer.

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