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AutoZone - Sarasota (Parrish) FL 12015 US-301 5,000 SF Retail Building Parrish, FL 34219 $1,906,000 ($381.20/SF) 4.25% Cap Rate
Investment Highlights
- Corporate Guaranty (NYSE: AZO | S&P: BBB) | New 15-Year Lease |Options To Extend | Scheduled 10% Rental Increases
- Signalized, Hard Corner Intersection | Part of Larger Development |Surrounding Retailers | US-301 - Major FL Highway
- Absolute NNN Ground Lease | Zero Landlord Responsibilities
- Demographics 5-Mile Trade Area | Population Growth |Six-Figure Incomes
Executive Summary
• Brand new 15-year lease with four (4) additional five-year renewal options
• Lease includes 10% rental increases every five years, driving NOI growth and providing a built-in hedge against inflation
• Guaranteed by AutoZone, Inc. (NYSE: AZO), one of the nation’s largest auto parts retailers with more than 7,650 locations and investment-grade credit (S&P: BBB)
• Lease includes 10% rental increases every five years, driving NOI growth and providing a built-in hedge against inflation
• Guaranteed by AutoZone, Inc. (NYSE: AZO), one of the nation’s largest auto parts retailers with more than 7,650 locations and investment-grade credit (S&P: BBB)
Property Facts
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Building Size
5,000 SF
Year Built
2026
Construction Status
Under Construction
Price
$1,906,000
Price Per SF
$381.20
Cap Rate
4.25%
NOI
$81,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
0.87 AC
Zoning
PD-C
Parking
33 Spaces (6.6 Spaces per 1,000 SF Leased)
Amenities
- Signage
- Signalized Intersection
- Drive Thru
1 of 7
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AutoZone - Sarasota (Parrish) FL | 12015 US-301
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