AutoZone – Claymont, DE
Fortis Net Lease is pleased to present this new construction, 6,810 SF AutoZone store on 0.73 acres of land located in Claymont, Delaware. The property is offers a Fifteen (15) Year Absolute NNN Ground Lease, leaving zero landlord responsibilities. The lease contains four (5 year) 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 currently open with rent having commenced on 10/1/20014.
This AutoZone is highly visible as it is strategically positioned on the hard, signalized corner of Maple Road and Philadelphia Pike (which sees 14,850 cars per day) nestled in between exits for I-95 (which sees 54,652 cars per day) and I-495 (which sees 75,721 cars per day). The five mile population from the site is 148,383 while the one mile average household income is $90,258 per year, making this location ideal for an AutoZone. The five mile consumer spending is $1.9 Billion. 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. List price reflects a 4.75% cap rate based on NOI of $85,500.
• Absolute NNN 15 Year Ground Lease
• Zero Landlord Responsibilities
• Philadelphia Market Area
• Four (5 Year) Options | 10% Rental Increase At Each Option
• One Mile Household Income $90,258
• Five Mile Population 148,383
• Five Mile Consumer Spending $1.9 Billion
• 14,850 VPD on Philadelphia Pike
• 75,721 VPD on I-495 | 54,652 VPD on I-95
• Investment Grade Store with “BBB” Credit Rating
• Located on Main Thoroughfare into Wilmington, DE
Instate Broker of Record: Brian Brockman | Bang Realty, Inc.