AutoZone – San Bernardino, CA

Pricing & Financial Analysis
Location
566 Inland Center Drive
San Bernardino, CA 92408
Sold: $2,275,000
Closing Date: 07/02/2015
Rentable Sq. Ft.: 10,500 Sq. Ft.
Price Per Sq. Ft.: $219.78
Cap Rate: 5.27%
Year Renovated: 2007
Lot Size: 1.0 Acres
Type Of Ownership: Fee Simple

Annualized Operating Data
Rent Increase
Annual Rent
Years 2015 – 2025
CAM Fixed Payment: TBD
Option Periods
 
Years 2025 – 2030
Years 2030 – 2040
Years 2040 – 2045
Real Estate Taxes: Tenant Responsibility
Insurance: Tenant Responsibility

Expenses
Lawn And Parking Lot:
Request Common Area Agreement
Net Operating Income: $120,000.00
Total Return: 5.15% $120,000.00

Tenant Summary
Tenant Trade Name: AutoZone Corp.
Ownership: Public
Tenant: Corporate
Lease Guarantor: Corporate, Public, NYSE: AZ
Lease Type: Double (NN) Net Lease
Roof And Structure: Landlord Responsible
Lease Term: 11 Years*
Lease Commencement Date: 9/30/2007
Rent Commencement Date: 9/30/2007
Lease Expiration Date: 11/30/2025
Term Remaining On Lease: 11.0 Years
Increases: 10% Every Five Years during the Options Periods
Options: Three, Five Year Options
 

INVESTMENT & LOCATION OVERVIEW

Highlights

  • Corporate Guaranteed ($9.149 Billion Sale/ $17.69 Billion Market Cap approximately)
  • AutoZone: #300 in Fortune 500 – S&P BBB- Rating – Investment Grade
  • Proven Location – Renewed Lease Early through November 30, 2025
  • Almost 11.0 Years remaining on initial lease term
  • Excellent location on Inland Center Drive near the Events Center
  • 10,500 SF – Larger Store Format
  • Parking Lot recently resealed & restriped
  • Excellent Traffic Counts – Over 20,000 Cars per Day on Inland Center Drive
  • Demographics – over 332,000 people in a 5 mile radius
  • Excellent Retail near property including Carl’s Jr., Chevron, O’Reilly Auto Parts, Sears, Macy’s, El Pollo Loco, Arby’s, Wienerschnitzel and Jack in the Box

The AutoZone # 3430 – is a proven location. The property is located at 1166 Inland Center Drive San
Bernardino CA with easy access from the Interstate I-10 and I-215 Freeways. The Auto Zone property is
a 10,500 Square Foot property built in 1986 and remodeled in 2007. The rent is a double net lease
offered at a 5.15% Cap Rate with almost 11 years remaining on the lease term. Minimal maintenance is
required with 10% increases during the three, five-year options.


CORPORATE DESCRIPTION

AutoZone is the nation’s leading retailer and a leading distributor of automotive replacement parts and accessories with more than 5,200 stores in US, Puerto Rico, Mexico, and Brazil. Each store carries an extensive line for cars, sport utility vehicles, vans and light trucks, including new and remanufactured hard parts, maintenance items and accessories.

$9.14 billion in sales in fiscal 2013
5,200+ stores in 49 states
BBB Rating by Standard & Poor’s
Headquarter are located in Memphis, Tennessee