AUTOZONE | TALLMADGE, OHIO
INVESTMENT SUMMARY
Purchase Price
$770,000
Location
339 West Avenue
Cap Rate
5.92%
Annual Rent
$45,600.00
Building Size
8,000 SF
Land Area
1.37 Acres
Ownership
Fee Simple
Lease Type
NN
Term Remainning
6 Years
LEASE EXPIRATION
10/31/2027
Renewal Options
RENT INCREASES
At Options
Parking
59 Spaces
Year Built
1974
APN
6005347, 6005348, 6005344
Traffic Counts
12,613 VPD
INVESTMENT HIGHLIGHTS
AUTOZONE CORPORATE LEASE:
- 6 Years Remaining in the Current Term
- Long Term Operating History in Excess of 30+ Years
- Two (2) - Five (5) Year Renewal Options
NN LEASE:
- AutoZone is Responsible for All Internal Maintenance, Taxes, Utilities, Insurance and Minor Repairs
- Roof Replaced in 2015. Duro-Last Guaranteed for 15 Years Assigned to AutoZone
- Store Canopy Apron Re-Shingled in 2021 (30 Year Warranty)
- Parking Lot Repaved in 2005 - Crack Repair, Fill and Seal Every 5 Years
PROXIMITY FROM TALLMADGE:
- Akron, Ohio | 5 Miles
- Canton, Ohio | 27 Miles
- Cleveland, Ohio | 38 Miles
- Youngstown, Ohio | 45 Miles
- Pittsburgh, Pennsylvania | 106 Miles
- Columbus, Ohio | 130 Miles
TRADE AREA DEMOGRAPHICS:
- 1-Mile = 6,261 Residents
- 1-Mile Average Household Income = $61,707
- 3-Mile = 76,424 Residents
- 3-Mile Average Household Income = $63,216
- 5-Mile = 205,953 Residents
- 5-Mile Average Household Income = $62,965
- 7-Mile = 346,930 Residents
- 7-Mile Average Household Income = $65,284
TENANT:
- AutoZone, Inc. (NYSE: AZO)
- In Fiscal Year 2021, AutoZone Reached a Record $14.6 Billion in Sales (Up from $12.6 Billion in Fiscal Year 2020)
- In Fiscal Year 2021, AutoZone Grew Domestic Same Store Sales by 13.6% (Up from 7.4% Increase in Fiscal Year 2020)
- 6,066 Stores Located in 50 States as of November 20, 2021