AutoZone | 1106 W Patrick St
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AutoZone 1106 W Patrick St
8,526 SF Retail Building Frederick, MD 21703 £3,276,901 (£384/SF) 4.25% Net Initial Yield
Investment Highlights
- CORPORATE LEASE FROM CREDIT TENANT
- LOCATED BETWEEN TWO MAJOR MSAS
- STRATEGICALLY POSITIONED ON DENSE CORRIDOR
Executive Summary
STRONG LEASE STRUCTURE
- Absolute NNN Ground Lease - Zero Landlord Responsibilities
- 15 Year Term with Six (6) five (5) year extensions
- Rent increases by six percent after year 6 and increases by eight percent in each 5-yr option period
STRATEGICALLY POSITIONED ON DENSE CORRIDOR
- Over 2.2MSF in 1-mile Radius of subject site
- Nearby Retailers include: Willowtree Plaza Shopping Center, Home Depot, Aldi, Lidl, Taco Bell, and many more
- Over 3K apartments located in a 1-mile radius
EASILY ACCESSIBLE & WITH EXCELLENT VISIBILITY
- Fronts W. Patrick St. (47.5k VPD)
- Cross access with adjacent strip center providing access to the light
CORPORATE LEASE FROM CREDIT TENANT
- AutoZone has a credit rating of BBB providing a stable investment
- AutoZone operates more than 7,100 locations across the US, Mexico, and Brazil | 2023 Annual Revenue was $17.457 Billion
EXCELLENT DEMOGRAPHICS & GROWTH
- According to the U.S. Census Bureau, Frederick County is the fastest growing county in Maryland
- AHHI exceeds $100K in 1, 3, and 5 mile radius
- Over 134K people live in a 5-mile radius
- From 2020- 2023 the population in the county grew 7.55% compared to the state population growth of 0.11%
INVESTMENT HIGHLIGHTS AUTOZONE FREDERICK, MD 3 LOCATED BETWEEN TWO MAJOR MSAS
- Positioned between the Washington-Arlington MSA (6.3M+ population) and Baltimore MSA (2.8M+), combining to be the 3rd largest Combined Statistical Area (CSA) in the Nation
- The Baltimore & Washington CSA has the fourth-highest median household income in the United States
- Absolute NNN Ground Lease - Zero Landlord Responsibilities
- 15 Year Term with Six (6) five (5) year extensions
- Rent increases by six percent after year 6 and increases by eight percent in each 5-yr option period
STRATEGICALLY POSITIONED ON DENSE CORRIDOR
- Over 2.2MSF in 1-mile Radius of subject site
- Nearby Retailers include: Willowtree Plaza Shopping Center, Home Depot, Aldi, Lidl, Taco Bell, and many more
- Over 3K apartments located in a 1-mile radius
EASILY ACCESSIBLE & WITH EXCELLENT VISIBILITY
- Fronts W. Patrick St. (47.5k VPD)
- Cross access with adjacent strip center providing access to the light
CORPORATE LEASE FROM CREDIT TENANT
- AutoZone has a credit rating of BBB providing a stable investment
- AutoZone operates more than 7,100 locations across the US, Mexico, and Brazil | 2023 Annual Revenue was $17.457 Billion
EXCELLENT DEMOGRAPHICS & GROWTH
- According to the U.S. Census Bureau, Frederick County is the fastest growing county in Maryland
- AHHI exceeds $100K in 1, 3, and 5 mile radius
- Over 134K people live in a 5-mile radius
- From 2020- 2023 the population in the county grew 7.55% compared to the state population growth of 0.11%
INVESTMENT HIGHLIGHTS AUTOZONE FREDERICK, MD 3 LOCATED BETWEEN TWO MAJOR MSAS
- Positioned between the Washington-Arlington MSA (6.3M+ population) and Baltimore MSA (2.8M+), combining to be the 3rd largest Combined Statistical Area (CSA) in the Nation
- The Baltimore & Washington CSA has the fourth-highest median household income in the United States
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
8,526 SF
Building Class
B
Year Built
1989
Price
£3,276,901
Price Per SF
£384
Net Initial Yield
4.25%
NOI
£139,264
Tenancy
Single
Number of Floors
1
Building FAR
0.17
Lot Size
1.15 AC
Zoning
GC - General Commercial Zoning - provide a variety of retail and business services to the community. GC zoning is typically located on roads with a minimu
Parking
60 Spaces (6.69 Spaces per 1,000 SF Leased)
Frontage
91 ft on Patrick St
Amenities
- Property Manager on Site
Walk Score ®
Very Walkable (75)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 02-111527 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £1,532,950 |
PROPERTY TAXES
Parcel Number
02-111527
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£1,532,950
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AutoZone | 1106 W Patrick St
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