AutoZone
PRICE
CAP RATE
SQUARE FOOTAGE
LEASE TERM

CONTACT US REGARDING THIS LISTING

Bryan Bender

Partner & Managing Director

Robert Bender

Managing Partner

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PROPERTY ADDRESS

2170 State Route 53, Fremont, OH 43420

PROPERTY INFORMATION

Price:
$1,745,454
Cap Rate:
5.50%
Term Remaining:
10 Years
Year Built:
2017
Status:
Available

INVESTMENT HIGHLIGHTS

  • Brand New Absolute NNN Lease
  • Zero Landlord Responsibilities
  • 10 Year Term | Four (5 Year) Options
  • One Mile Household Income $57,161
  • Five Mile Population Exceeds 28,000
  • Walmart and Lowes Out Parcel
  • Investment Grade Tenant

INVESTMENT SUMMARY

Fortis Net Lease is pleased to present this 7,000 SF AutoZone store located in Fremont, OH. The property is encumbered with a Ten (10) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains Four (5) Yr. Options to renew, each with a 10% rental rate increase. The lease is corporately guaranteed by AutoZone Inc which holds a credit rating of “BBB”, which is classified as Investment Grade. The store is open with rent having commenced on 1/1/2017.

This AutoZone is highly visible and is strategically positioned in Fremont, OH. The five mile population from the site exceeds 28,000 while the one mile median household
income exceeds $57,000 per year, making this location ideal for an AutoZone. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of an AutoZone. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, one of the nation’s top auto parts store. List price reflects a 5.50% cap rate based on NOI of $96,000.