Frederick, MD - AutoZone (SOLD)

Description:

• 11+ years remaining on this corporate guaranteed ground lease with 4 (5-year) options to extend, demonstrating their long-term commitment to the site
• The lease features a 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 is currently paying below market rent
• 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 Monocacy Blvd averaging 13,400 vehicles passing by daily
• The asset is located 1 mile from Catoctin Mountain Hwy (84,000 VPD)
• The dense retail corridor is supported by several national/credit tenants such as CVS, Chick-fil-A, Burger King, McDonald’s, Buffalo Wild Wings, and more
• The subject property is across the street from a 500,000+ SF Lowe’s, and Marshall’s anchored shopping center as well as a 500,000+ SF Walmart and At Home anchored shopping center
• Strong tenant synergy promotes crossover store exposure to the site
• Bainbridge Market Commons is currently under construction and will feature 344 apartment units, 105 townhomes, and 15,100 SF of available retail space
• More than 119,000 residents and 72,000 employees support the trade area
• $122,800 average household income

---

Report Listing This listing was syndicated through:

Listing ID: a288X000003h1YBQAY