New Listing
Cap Rate
5.25%
Offering Price
$2,362,000
Year Built
2014
Building Size
6,680 SF
Price Per SF
$353/SF
Type
For Sale
Status
New Listing
Location
Aberdeen, WA

Investment Summary

Kidder Mathews is pleased to offer the opportunity to acquire a single tenant net leased AutoZone. This is an excellent opportunity for an investor seeking stable cash flow with minimal landlord involvement.

The property is an 6,680 square foot single tenant building located in Aberdeen, Washington. The building was originally constructed in 2014 as a build-to-suit for AutoZone.

Investment Highlights

CORPORATE GUARANTEE

The lease is guaranteed by AutoZone Corporate with an S&P investment grade credit rating of “BBB”.

STABLE CASH FLOW

This asset provide a long-term, steady cash flow to ownership. Over 8 years remain on the primary lease term and four 5-year renewal options remain with 10% rent increases at each option.

EASE OF MANAGEMENT

Minimal landlord responsibility. Tenant responsible for real estate taxes, insurance and building maintenance.

CONTRACTED RENT INCREASES

There are 10% rent increases in each of the four, five-year options

ESSENTIAL RETAILER

AutoZone is considered an essential retailer keeping its doors open throughout the pandemic

CONVENIENT LOCATION

The property benefits from multiple ingress/egress points and traffic counts exceeding 26,000 trips per day on Highway 101.

INCOME TAX FREE STATE

Washington State has no state income tax.

Property Summary

Offering Price
$2,362,000
CAP Rate
5.25%
Year Built
2014
Building Size
6,680 SF
Price Per SF
$353/SF
Address
1414 Simpson Ave, Aberdeen, WA 98520

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