2264 Fair Oaks Blvd, Suite 201 | Sacramento, CA 95825 CA BRE #01904661 Patrick Folle 916. 274. 4433 [email protected]CA BRE #01796180 Exclusively Listed by: Offering Memorandum Established, hard corner locaon at signalized intersecon Combined traffic counts of 41,000 VPD in front of AutoZone NNN Leased Investment offers secure and passive income Corporate Guarantee from AutoZone (Rated BBB by S&P) John Ausn 916. 274. 4410 [email protected]CA BRE #00892375 NNN LEASED AUTOZONE Citrus Heights (Sacramento),California $1,273,000 (5.75% CAP)
Transcript
2264 Fair Oaks Blvd, Suite 201 | Sacramento, CA 95825CA BRE #01904661
� Established, hard corner location at signalized intersection � Combined traffic counts of 41,000 VPD at intersection of Sunrise Blvd & Woodmore Oaks Dr � Monument signage � Below market in-place rental rate equates to $1.63 PSF, NNN � Passive income property with tenant paying Taxes, Insurance and CAM directly � High concentration of retail within the immediate trade area. Tenants include: FoodMaxx, Planet Fitness, Dollar Tree, Chase Bank and 7-Eleven
AUTOZONE CITRUS HEIGHTS
CORE Commercial is pleased to offer this single tenant net leased AutoZone for sale in Citrus Heights (Sacramento), CA. The subject property is conveniently located at the signalized intersection of Sunrise Blvd. and Woodmore Oaks Dr. Sunrise Blvd is the major north / south arterial connecting Citrus Heights to Fair Oaks, Rancho Cordova and Roseville. AutoZone has excellent visibility along Sunrise Blvd and the property benefits from 41,000 vehicles per day at this intersection. The subject property was built to suit for AutoZone in 1984 which translates into an established and proven location for the tenant. AutoZone has approximately 3 years and 4 months remaining on their lease with 3, 5 year options to renew. This low price point and corporately backed AutoZone presents the opportunity for an investor to acquire a secure and proven income stream at an attractive yield with an 8% rental increase in the 1ST option and 10% increases in both the 2ND and 3RD remaining options. Additionally, the current rent at the subject property equates to $1.63 PSF, NNN which is below market for this well positioned and highly visible freestanding pad building. The below market rent presents the potential for future upside through the re-tenanting of the 3,750 SF of existing improvements.
The subject property sits adjacent to Copperwood Square, which is a 123,000 SF shopping center anchored by FoodMaxx. Additional tenants at the center include Planet Fitness, Dollar Tree, and Chase Bank. The surrounding trade area is a densely populated and established community with a two mile population of approximately 71,354 people. In addition, the subject property is located just one mile north of the Sunrise Marketplace, which is the epicenter for both retail and business in the city of Citrus Heights.
Overview
AUTOZONE CITRUS HEIGHTS
Tenant AutoZone
Rent $73,200 per year
Increases 1ST, 5 Year Option: $6,600.00 2ND, 5 Year Option: $7,260.00 3RD, 5 Year Option: $7,986.00
Original Lease Dated November 30, 1983
Lease Expiration November 30, 2020
Additional Options 3, 5 Year Options
Right of First Refusal No
Insurance Tenant pays directly
Property Taxes Tenant pays directly
CAM Tenant pays directly
Repairs & Maintenance Tenant is responsible for Roof, Structure, Landscaping and Parking Lot
Lease Information
Corporate ProfileAutoZone, Inc (NYSE: AZO) is the leading retailer and a leading distributor of automotive replacement parts and accessories in the U.S. featuring annual revenue in ex-cess of $10.64 billion. The company sells auto and light truck parts, chemicals and accessories through Auto-Zone stores in 50 U.S. states plus the District of Colum-bia, Puerto Rico, Mexico and Brazil. The company also sells automotive diag-nostic and repair software through ALLDATA, diagnostic and repair information through all-datadiy.com, and auto and light truck parts and acces-sories through AutoZone.com. As of February 28, 2017, the company operated 5,346 stores in the United States, including Puerto Rico; 491 stores in Mexico; 9 stores in Brazil; and 26 Interamerican Motor Corporation branch-es. The company was founded in 1979, is incorporated in the state of Nevada, and is headquartered in Memphis, Tennessee. www.AutoZone.com.
� The city of Citrus Heights is an established community that was officially incorporated in 1997.
� Citrus Heights is conveniently located within close proximity to the neighboring communities of Roseville, Orangevale, Fair Oaks and Antelope. Furthermore, the main arterial of Sunrise Blvd. provides direct access to both Interstate 80 and Highway 50.
� The city is home to Sunrise Marketplace (less than 1 mile from the subject property) which is the epicenter of the city’s retail and business activity. There are an estimated 400 businesses packed into a 10 block area. Major retailers within the area include: Sunrise Mall, Lowe’s, Walmart, Target, BevMo, Sprouts, Old Navy as well as many others. The Sunrise Marketplace improvement district was implemented as a way to insure the long-term economic viability of the trade area and continued activity within the area would certainly suggest the district is thriving.
� Citrus Heights also understands and recognizes that small and medium-sized businesses are valuable to the local economy. Ultimately the pro-business city offers guides designed to help entrepreneurs navigate the process of creating a business.
� Citrus Heights provides an affordable living environment within the Sacramento Region with 2016 median homes prices at approximately $285,000. Moreover, the community is family friendly and offers great schools, well maintained parks and a multitude of programs and community events that help make Citrus Heights an enjoyable place to live and work.
Citrus Heights California
AUTOZONE CITRUS HEIGHTS
2264 Fair Oaks Blvd, Suite 201Sacramento, California 95825
shall not be considered all-inclusive or unchanged since the date of preparation. No warranty as to the accuracy or completeness is expressed or implied. The information has
been received from sources believed to be reliable but is not guaranteed. Prospective purchasers and tenants should independently verify each item of information and have
the same reviewed by its tax advisor and/or legal counsel. The Property is being offered on an “as-is, where-is” and “with all faults” basis unless otherwise specified. Owner
reserves the right to withdraw this offering at any time, without further notice, with or without cause.
