Lowest Cap Rate
4.00%
Lowest Cap Rate over past 24 months
Average Cap Rate
5.16%
12 mo avg with 5+ yr lease term
Average Cap Rate calculated if 3+ comps are available over past 12 months
Quarter Cap Rate
5.71%
Average Cap Rate over previous quarter
Overview
AutoZone, Inc is a Fortune 500 retailer and distributor of automotive parts throughout the United States, operating over 6,000 locations. In 2020, AutoZone report a 6.48% sales growth, topping $12.63B, showing a steady incline in top-line revenue for the 5th year in a row. Investors flock to AutoZone for their absolute NNN ground leases and recent preference for long-term 20-year leases. The strong financial fundamentals of AutoZone combined with the attainable price points (typically in the $1.25M to $3M range), makes for demand from many different buyer pools.
Property & Lease
Sales Price Range$1,250,000 - $3,000,000
NOI Range$70,000 - $140,000
Building SF6,500
Lease Term15-20 Years
EscalationsVaries
Stock SymbolNYSE:AZO
Credit Rating
S&PBBB
Moody'sBaa1
Cap Rate By Region
Average regional cap rates calculated over past 24 months, irrespective of term length
4.79
4.75
5.34
4.80
4.38
4.98
*Regional cap rates calculated from sales data available over the past 24 months, irrespective of remaining term.
Financial Fundamentals
- Overview
- Cap Rate By Region
- Financial Fundamentals
- Stock Analysis
Recent Sales Comps
Orlando, FL4.00%
Cheraw, SC7.90%
Shoreline, WA6.30%
Top Consumer Traffic
Baldwin Park, CA291,700
Las Vegas, NV278,200
Sacramento, CA271,000
Provided by Placer.ai
*Indicates ranking may be skewed due to limited data
