5110 W State Road 46
Sanford, FL 32771
AutoZone (Ground Lease) · Retail Property For Sale

The Boulder Group is pleased to exclusively market for sale a single tenant ground leased AutoZone property positioned within the Orlando MSA in Sanford, Florida. AutoZone has operated at this location since the property’s construction in 2017. The ground lease runs through May 2032 and is absolute triple net, presenting zero landlord responsibilities. The lease also includes 10% rental escalations every ?ve years (next occurring June 2027), throughout the primary term and across four ?ve-year renewal options. The current rent of $8.89/SF is signi?cantly below the submarket rate of $23.55/SF, according to CoStar. The lease is backed by a corporate guaranty from AutoZone, which carries an investment-grade S&P rating of BBB. Additionally, Florida is a state with no personal income tax.
The 7,424 square-foot property is positioned along State Road 46 (28,000 VPD), a primary east-west arterial in the Lake Forest area of west Sanford. Additionally, it is less than two miles from Interstate 4 (140,000 VPD) - the region’s principal interstate linking Orlando, Daytona Beach, and Tampa. The site also bene?ts from additional access to State Road 417 and State Road 429. The immediate trade area is supported by a strong roster of national retailers, including Target, Publix, Walmart, BJ’s Wholesale, Sam’s Club, Kohl’s, Floor & Décor, Old Navy, Marshalls, Burlington, and many others. The property further bene?ts from a dense nearby concentration of automotive dealerships, including Mercedes-Benz, Audi, Cadillac, Acura, Toyota, Honda, Hyundai, Ford, Chevrolet, Dodge Jeep Ram Chrysler, and CarMax, reinforcing the site’s positioning within an established automotive retail destination. Sanford is home to Orlando Sanford International Airport, which served more than 3.1 million passengers in 2025. There are more than 111,000 residents within a ?ve-mile radius of the property, earning an average household income exceeding $132,000.
AutoZone, Inc. (NYSE: AZO) is the largest retailer of aftermarket automotive parts and accessories in the United States. Founded in 1979 and headquartered in Memphis, Tennessee, the tenant operates approximately 7,600 stores across the United States, Mexico, Brazil, Puerto Rico, and the U.S. Virgin Islands. AutoZone generated $18.9 billion in revenue and $2.5 billion in net income in fiscal 2025 and continues to expand its national footprint, opening more than 300 net new stores during the year.