Absolute NNN AutoZone | Philadelphia MSA | 1,000,000+ Population

3101 W Allegheny Ave, Philadelphia, PA 19132, USA
$4,488,889

Description

Marcus & Millichap is pleased to present for sale this Absolute Triple Net AutoZone located at 3101 West Allegheny Ave, Philadelphia, PA. The freestanding single-tenant property consists of a 10,168 Square Foot building situated on a 1.17 Acre parcel of land with ample parking.
Strategically located at the Corner of a Six-way Signalized Intersection, the property benefits from great visibility and daily traffic counts in excess of 47,000 vehicles per day. The subject Property is ideally positioned in the extremely dense Philadelphia MSA which benefits from a population of over 1,000,000 people within a 5-mile radius and an average household income of $79,355. The property is also within proximity to Center City Philadelphia, Independence Hall, the Philadelphia Museum of Art, and Five Major Universities which are the homes of 100,000+ Students.
Philadelphia is known for the Liberty Bell and the home of Independence Hall, where the U.S. Constitution and Declaration of Independence were adopted. Philadelphia has one of the largest concentrations of institutions of higher learning in the nation, including the University of Pennsylvania, Temple University and Drexel University. The Philadelphia area is home to numerous Fortune 500 companies that operate across a broad spectrum of industries, including AmerisourceBergen, Comcast, Crown Holdings, UGI, and Aramark. Philadelphia is headquarters of the Federal Reserve’s Third District, which, along with the Philadelphia Stock Exchange and companies such as Lincoln Financial Group and Vanguard, helps shape a formidable financial sector.
The lease is a Corporate Guaranteed lease backed by AutoZone (NYSE: AZO). AutoZone, Inc. is an American retailer of aftermarket automotive parts and accessories, the largest in the United States. Founded in 1979, AutoZone has over 6,400 stores across the United States, Mexico, Puerto Rico, and Brazil. Domestically, AutoZone is the country’s #1 auto parts retailer.

  • Credit Tenant | NYSE: AZO $33B+ Market Cap
  • Absolute NNN Lease | No Landlord Responsibility
  • Exceptional Demographics | 1,000,000+ Population
  • Located at the Corner of a Six-Way Signalized Intersection
  • Strong Traffic Counts exceeding 47,000 Vehicles Per Day
  • Remodel Completed in 2016 | Commitment to Site
  • Minutes from Center City, Philadelphia
  • Brand New Roof and HVAC Installed at Commencement
  • Strong Rent Increases
  • AutoZone is Considered an Essential Tenant

Property Documents

  • Autozone-Philadelphia-PA-om-ib
  • City: Philadelphia
  • State/county: Pennsylvania
  • Zip/Postal Code: 19132
  • Country: United States

Detail

  • Price: $4,488,889
  • Year Built: 2016

Additional details

  • CAP RATE: 4.50%
  • NOI: $202,000

Features