1031 Deal Hub

AutoZone

Overview

AutoZone, Inc is a Fortune 500 retailer and distributor of automotive parts throughout the United States, operating over 6,000 locations. In 2020, AutoZone report a 6.48% sales growth, topping $12.63B, showing a steady incline in top-line revenue for the 5th year in a row. Investors flock to AutoZone for their absolute NNN ground leases and recent preference for long-term 20-year leases. The strong financial fundamentals of AutoZone combined with the attainable price points (typically in the $1.25M to $3M range), makes for demand from many different buyer pools.
Lowest Cap Rate

3.65%

Average Cap Rate

4.93%

Property & Lease

Average Sale Price

$1,250,000 – $3,000,000

Average NOI

$70,000 – $140,000

Building SF

6,500

Lease Term

15-20 Years

Escalations

Varies

Stock Symbol

NYSE:AZO
Credit Rating

S&P

BBB

Moody’s

Baa1

Tenants

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