AutoZone
Lowest Cap Rate
3.65%
Lowest Cap Rate over past 24 months
Average Cap Rate
5.00%
12 mo avg with 5+ yr lease term
Average Cap Rate calculated if 3+ comps are available over past 12 months
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.
Property & Lease
Average Sale Price$1,250,000 - $3,000,000
Average NOI$70,000 - $140,000
Building SF6,500
Lease Term15-20 Years
EscalationsVaries
Stock SymbolNYSE:AZO
Credit Rating
S&PBBB
Moody'sBaa1
Cap Rate By Region
4.75
4.58
5.39
4.78
4.15
4.83
*Regional cap rates calculated from sales data available over the past 24 months, irrespective of remaining term.
Financial Fundamentals
- Overview
- Cap Rate By Region
- Financial Fundamentals
- Stock Analysis
Recent Sales Comps
Marysville, CA4.98%
Kissimmee, FL4.87%
Jacksonville, FL4.65%
Top Consumer Traffic
San Jose, CA131,900
Los Angeles, CA131,700
Bakersfield, CA131,700
Provided by Placer.ai
*Indicates ranking may be skewed due to limited data