AutoZone

AutoZone

1845 West County Road 419
Oviedo, FL

Price: $1,383,000
Cap: 5.25%
NOI: $72,600
Building Size: 7,475 SF
Lot Size: 1.14 AC

Investment Highlights

INVESTMENT GRADE TENANT
• 
AutoZone is a publicly traded (NYSE: AZO) Fortune 500 company and currently holds an investment grade credit rating of BBB with S&P.
• #2 American Auto Parts Retailer with 5,517 Locations in 17 States.
• AutoZone was Founded in 1979 and did $10.9B in Revenue last year.

LONG TERM NNN GROUND LEASE WITH INCREASES
• The subject property has a 20-year NNN Ground Lease with 9 years remaining.
• The Tenant is 100% responsible for all expenses, including Taxes, CAM, Insurance, Roof and Structure.
• There are 10% rent increases in Year 16 and in each of the Four, 5-year options.
• Low rent Ground Lease with a rent/sf under $10.

ATTRACTIVE RETAIL LOCATION
• 
Well-located on West County Road 419 (21,500 VPD) in the growing suburb of Oviedo, FL.
• Surrounding National Retailers include Publix, Winn Dixie, Taco Bell, 7-Eleven, Walgreens, Verizon, SunTrust, Firehouse Subs, and More.
• 5-Mile Population of 103,593 & Avg HHI of $94,843.

ORLANDO MSA
• 
Oviedo, FL is a thriving suburb in the Orlando MSA. Money Magazine and Businessweek have both rated Oviedo as one of the Best Places to Live in the U.S. Orlando Metros population is projected to grow 50% by 2045.
• Orlando is home to more than a dozen theme parks which draw more than 72 million visitors annually. Chief among them is Walt Disney World.
• Orlando is ranked #12 on the Forbes U.S. Cities for Job Growth and Top 30 on the Forbes Best Places for Businesses & Careers. Professional, scientific, and technology positions grew 8.2 percent in the past year and the metro is expected to have 40%+ of future job growth in the next decade.

FLORIDA HAS NO STATE INCOME TAX
• 
Florida is one of only seven states that have no state income tax. 

Don McMinn
OFFERING MEMORANDUM

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