AutoZone
![AutoZone](img/tenants/autozone.jpg)
Lowest Cap Rate
4.00%
Lowest Cap Rate over past 24 months
Average Cap Rate
4.98%
12 mo avg with 5+ yr lease term
Average Cap Rate calculated if 3+ comps are available over past 12 months
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
Average Sale Price$1,250,000 - $3,000,000
Average NOI$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
4.76
4.58
5.33
4.80
4.38
4.80
*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
Raleigh, NC5.60%
Golden, CO4.60%
Georgetown, DE5.00%
Top Consumer Traffic
Baldwin Park, CA325,200
Las Vegas, NV308,100
Los Angeles, CA293,800
Provided by Placer.ai
*Indicates ranking may be skewed due to limited data