for sale single tenant autozone
TRANSCRIPT
Confidential Offering Memorandum
SWC of Limonite Avenue & Corey StreetJurupa Valley, California
Single Tenant Autozone
FOR SALE*photo is not of actual property but similar Autozone
Offering SummaryAutoZone
SWC of Limonite Avenue & Corey StreetJurupa Valley, California
Offering Price:Cap Rate:Annual NOI:Property Type:Building Area:
$1,975,0004.1%$80,004Fee Simple Ground Lease±7,380 SF
Land Area: ±1.22 AC / ±53,143 SFParcel: 163-021-037-000Year Built: 2021Zoning: C-P-S (Scenic Highway Commercial)Parking: 38 Spaces
Overview
Autozone on a fee simple ground
lease located at the Southwest corner of Limonite Avenue and Corey Street in Jurupa Valley, California. The building is situated off a primary thoroughfare, Limonite Avenue, with close proximity to other national tenant retailers, including Walmart and the 99 Cents Only Store. The site is in close proximity to the 15 Freeway and Van Buren, two major commercial corridors. This is a rare opportunity to acquire a stable commercial investment market in Southern California.
Investment Summary
*photo is not of actual property butsimilar Autozone
» Fee Simple Ground Lease
» Single tenant building 100% occupied by AutoZone, aNational Credit Tenant
» S & P Rated BBB Investment Grade Credit - NYSE: AZO
» Located adjacent to other National Credit Tenant retailers
» Highly visible from primary thoroughfare, LimoniteAvenue
Investment Highlights
-0.11(-0.11%)
AutoZone is the leading retailer and a leading distributor of automotive replacement parts and accessories in the U.S. They sell auto and light truck parts, chemicals and accessories through AutoZone stores in 50 U.S. states plus the District of Columbia, Puerto Rico, Mexico and Brazil. We also sell automotive diagnostic and repair software through ALLDATA, diagnostic and repair information through alldatadiy.com, and auto and light truck parts and accessories through AutoZone.com
Address SWC of Limonite Avenue & Corey Street Jurupa Valley, California
Parcel Size ±53,143 SF (1.22 AC)Lease Commencement August 1, 2022Lease Expiration July 31, 2037Original Lease Term 15 YearsNet Operating Income (2022) $6,667.00/month or $80,004/year
Next Increase Years 11 - 15 $84,000
Options to Extend Four (4) of 5 Years
Option Rental Increase
Fixed 1st Option $88,200/year
2nd Option $92,610/year 3rd Option $97,240.50/year
4th Option $102,102.60/year
Tenant Pays Taxes, Insurance, Maintenance, Utilities, Roof, Wall, Structure & Parking Lot
Lease Type Fee Simple Ground LeaseGuarantor Corporate - NYSE: AZOFirst Right of Refusal NoLandlord Expense None
LEASE ABSTRACT
*Seller will credit buyer from the close of escrow until commencement of rent by Auto Zone, themonthly rent and NNN charges. The property has been turned over to Auto Zone to commenceconstruction.
Tenant Profile
*photo is not of actual property but similar Autozone
» Stores typically range from 6,500 to8,000 SF
» Lease spaces must include anabundance of uncongested,customer-friendly parking spaces
» Require upfront, high-impactlocations with excellent visibility andaccess from adjacent streets
» Land parcels for new constructionmust accommodate between 25 and50 parking spaces
New Developments
Newly Developed Single Tenant Autozone
Floor Plan
LIMONITE AVE.
CO
REY
ST.
AUTO
ZON
E36
20PR
EPAR
ED F
OR
JUR
UPA
VAL
LEY,
CA
©
LEGEND
DATA SUMMARY
PARKING SUMMARY
PROJECT TEAM
PREL
IMIN
ARY
SITE
PLA
N
NORTH
Auto
Zone
Sto
re N
o.Au
toZo
ne S
tore
No.
3620
LI
MO
NIT
E AV
E &
CO
REY
STR
EET
JUR
UPA
VAL
LEY
CA
9250
9
7N2-R
03/15/21
BUIL
DIN
G F
LOO
R P
LAN
/RO
OF
PLAN
PS1
Scale:1 FRONT ELEVATION - NORTH
1/8"=1'-0" 0 4' 8' 16'
21'-0"
0'-0"
2'-6"
0 4' 8' 16'Scale:4 RIGHT ELEVATION - WEST
1/8"=1'-0"
0 4' 8' 16'Scale:3 REAR ELEVATION - SOUTH
1/8"=1'-0"
0 4' 8' 16'Scale:2 LEFT ELEVATION - EAST
1/8"=1'-0"
21'-0"
12'-2"
0'-0"
2'-6"
12'-2"
0'-0"
2'-6"
1234
21'-8"
0'-0"
21'-0"
21'-0"
0'-0"
4'-0"
11'-0"
2'-6"
ROUGH SAWN POSTSAND BRACES.PT.SW6083 SABLE
STONE VENEERPOST WRAPS
ALUMINUM STOREFRONTSYSTEM BRONZE FINISH
STUCCO FINISH. PTSW6091 RELIABLEWHITE
FIXED BARN DOORSTYLE SHUTTERS.PT. SW6088
ROLL UP DELIVERY DOORFACTORY GRAY FINISH. PT.ANGLES SW6088
ROUGH SAWN POSTSAND BEAM. PAINTSW6083 SABLE
BOARD AND BATTENSIDING. PT. SW6091RELIABLE WHITE
HVAC UNITS SCREENEDBY PARAPETS (TYP)
MATERIALS AND FINISHES
BOARD AND BATTEN SIDING: PT. SW6091 RELIABLE WHITE
HARDIE TRIM FASCIA AND CORNICE: PT: SW6088 NUTHATCH
STUCCO FINISH: SAND TEXTURE - PT: SW6091 RELIABLE WHITE
ROUGH SAWN POSTS AND BEAMS: PT: SW6083 SABLE
FIXED BARN DOOR SHUTTERS: PT SW6088 NUTHATCH
METAL ROOFING: UNACLAD SILVER METALLIC, FRAMES SW6083 SABLE
STORE FRONT SYSTEM: MANFACURER'S BRONZE
STONE VENEER: CULTERED STONE VENEER-CARMEL COUNTRY LEDGSTONE
CMU BLOCK: SPLITFACE - SW6088 NUTHATCH
ROUGH SAWN 2x12's@ 24" O.C. PT SW6083
10'-0"
ROUGH SAWN 2x12's@ 24" O.C. PT. SW6083SABLE
10'-0"
SPLIT FACE CMU BLOCKSW6088, NUTHATCH
11'-0"
2'-6"
0'-0"
24'-0"
27'-0"
24'-0"
27'-0"
11'-0"
PARAPET TRIM.MANUFACTURESDARK BRONZE
PROJECTED TRIM, HARDIE TRIMPT. SW6088, NUTHATCH
STUCCO FINISHSW6091 RELIABLE WHITE
PARAPET TRIM. MANUFACTURESDARK BRONZE
HARDIE TRIM BOARDSPT. SW6088, NUTHATCH
SPLIT FACE CMUBLOCK SW6088,NUTHATCH
PROJECTED TRIM, HARDIETRIM PT. SW6088, NUTHATCH
FIXED BARN DOORSTYLE SHUTTERS.PT. SW6088
HARDIE TRIM FRAMES PTSW6088 WITH SW6086ACCENT COLOR INSIDE
PARAPET TRIM.MANUFACTURESDARK BRONZE
METAL AWNING.UNA-CLAD SILVERMETALLIC. FRAMESW6083 SABLE
WALL PAKLIGHTING
PARAPET TRIM. MANUFACTURESDARK BRONZE
HARDIE TRIM BOARDSPT. SW6088, NUTHATCH
BOARD AND BATTENSIDING. PT. SW6091RELIABLE WHITE
WALL PAK LIGHTING
ALUMINUM STOREFRONTSYSTEM BRONZE FINISH.DOORS CLEAR ANODIZED
METAL AWNING.UNA-CLAD SILVERMETALLIC. FRAMEPT SW6083 SABLE
HARDIE TRIM BOARDSPT. SW6091
SPLIT FACE CMUBLOCK SW6088,NUTHATCH
PT. MAN DOORS ANDFRAMES SW6088
PROJECTED TRIM,HARDIE TRIM PT.SW6088, NUTHATCH
HARDIE TRIM FRAMES PTSW6088 WITH SW6086ACCENT COLOR INSIDE
PARAPET TRIM.MANUFACTURESDARK BRONZE
TRIM AND FINISH TO WRAPAROUND REAR OF PARAPETDOWN TO 21'-0"
TRIM AND FINISH TO WRAPAROUND REAR OF PARAPETDOWN TO 21'-0"
SPLIT FACE CMUBLOCK SW6088,NUTHATCH
PT. MAN DOORS ANDFRAMES SW6088
RED PLASTICBOLLARD COVERS
PROJECTED TRIM,HARDIE TRIM PT.SW6088, NUTHATCH
PARAPET TRIM.MANUFACTURESDARK BRONZE
HARDIE TRIM BOARDSAT CORNICE. PT. SW6088NUTHATCH
HARDIE TRIM BOARDSAT CORNICE. PT. SW6088NUTHATCH
HARDIE TRIM BOARDSAT CORNICE. PT. SW6088NUTHATCH
HARDIE TRIM BOARDSAT CORNICE. PT. SW6088NUTHATCH
STUCCO FINISHSW6091 RELIABLE WHITE
STUCCO FINISHSW6091 RELIABLE WHITE
0'-0"
STUCCO FINISHSW6091 RELIABLE WHITE
WALL PAKLIGHTING
WALL PAKLIGHTING
40" TALL CHANNEL LETTERSAND STRIPES
BOARD AND BATTENSIDING. PT. SW6091RELIABLE WHITE
40" TALL CHANNEL LETTERSAND STRIPES
REV1
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2007
RCO
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Auto
Zone
Sto
re N
o.36
20LI
MO
NIT
E AV
E &
CO
REY
STR
EET
JUR
UPA
VAL
LEY
CA
9250
9
7N2-R
03/15/21
Auto
Zone
Sto
re N
o.
VISIT US ON THE INTERNETFor new store development:www.autozonerealestate.com
© 2020 AutoZone, Inc. All Rights Reserved. AutoZone and AutoZone & design are registered marks of AutoZone Parts, Inc.
Member ofInternational Councilof Shopping Centers
PROTOTYPICAL SITE PLAN EXAMPLES
For surplus properties:www.autozoneexcessproperty.com
Rev. 11.16.20
+ Stores typically range from 6,500 square feet to 8,000 square feet
+ Must accommodate between 25 and 40 uncongested,customer- friendly parking spaces
+ We require up-front,high-impact locations with excellent visibility and access from adjacent streets
Jurupa Valley, California
The City of Jurupa Valley today is a mix of high and low-density residential development, rural farming and other agricultural activities, and a mix of commercial retail and industrial activity. Two primary transportation corridors traverse the Jurupa Valley area, Interstate 15 which runs north and south, and State Highway 60, which runs east and west. It has been in recent years that residential development and economic activity has increased, in particular in the areas adjacent to the I-15 and Highway 60. The pro-growth city has significant capacity for expansion of both residential and commercial development activity in the future.
Development Pipeline for Jurupa Valley
1. 397 market rate multi-family housing units by Bridge Development in the south west portion of thecity, south of the Vernola Marketplace Shopping Center. Constuction expected to be completedover the the next 24 months.
2. 600 single family detached homes on Limonite Avenue (on the site of a former golf course) RichmondAmerican Home is building Phase I of 107 single family homes. Expected completion 24 months
3. 400 single family homes are under construction by Lennar Homes in the Shadow Rock masterplanned community area of the city. Expected completion in phases over the next 24 months.
4. CT Realty Partners is under construction of 4.2 million SF of industrial in the Ribidoux area of JurupaValley on the former Riverside Cement Plant.
(Source: https://www.jurupavalley.com/)
SUBJECT PROPERTY
SUBJECT PROPERTY
Area Overview
LIMONITE AVE.
CO
REY
ST.
AUTO
ZON
E36
20PR
EPAR
ED F
OR
JUR
UPA
VAL
LEY,
CA
©
LEGEND
DATA SUMMARY
PARKING SUMMARY
PROJECT TEAM
PREL
IMIN
ARY
SITE
PLA
N
NORTH