Abs NNN Ground Lease AutoZone 9240 Elk Grove Florin Rd 6,803 SF Retail Building Elk Grove, CA 95624 $1,595,000 ($234.46/SF) 5.01% Cap Rate

Newly executed absolute NNN ground lease extension starting November 1, 2025 with AutoZone, the largest auto parts retailer in the nation. This 10-year extension represents a continuing commitment to this site following the initial 20 years of tenancy that runs through 10/31/25, and includes four 5-year options and one 4-year option to extend with reliable 10% rent increases every five years, including the initial term. The subject property is located in the heart of Elk Grove, CA on the signalized hard corner of the 7-lane intersection of Elk Grove Florin Road and Bond Road. The two thoroughfares that make up this major intersection combine for traffic counts exceeding 50,000 VPD.
Elk Grove, CA is the second largest city in the Sacramento Metropolitan Area and was designated the fastest growing city in the US in 2005 and the fastest growing economy in CA in 2016. The site benefits from the favorable demographics with more than 125,000 residents and 32,000 employees within a 3-mile radius.
The subject property is a part of Creekside Plaza, a planned six-parcel retail development that includes operators such as Starbucks, US Bank, Wells Fargo Bank, Walgreens, KinderCare and others. The heavy retail intersection is dominated in all directions by swaths of multi- and single-family residential development.