AutoZone Merrillville, Indiana

$1,925,000
Cap Rate: 6.00%
Property type: Single-Tenant Net Lease

Property Details

Cap Rate: 6.00%
Price: $1,925,000
Rentable Square Feet: 8,015
Annual Rent: $115,512
Price PSF: $240.17
Land Area: 1.86 Acres
Year Built/Renovated: 1998/2009
Lease Type: NN
Remaining Lease Term: Approx. 11 Years
Option Periods: 4, 5-Year Options
Rent Increases: In Renewal Periods
Lease Expiration: 12/31/2029

8130 Colorado Street
Merrillville, Indiana 46410

Investment Highlights

  • Building Underwent Total Renovation by Tenant in 2009
  • Directly off Interstate 65, Which has a Daily Traffic Count of More Than 65,000 VPD
  • Located at Signalized Intersection Surrounding National Brands Include Comfort Suites, Quality Inn, Walmart Supercenter, Home Depot, Best Buy, Lowe’s, Sam’s Club, Target, Kohl’s, Michael’s, Old Navy, Olive Garden, Outback Steakhouse, Red Lobster and Many More
  • Part of the Chicago Metro Area, Which has a Total Population of 9.5 Million

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire AutoZone located in Merrillville, Indiana, part of the Chicago MSA. AutoZones 20-year, double net lease features four, five-year renewal options with rental increases every five years throughout the option periods. The lease is corporately guaranteed by AutoZone, Inc.

This 8,015-square-foot AutoZone property sits on a 1.86-acre parcel. This location is at a signalized intersection and is directly off Interstate 65, which has a daily traffic count of more than 65,000 vehicles. The surrounding area is known because it harbors a large concentration of big-box retailers, hotels, restaurants and automobile dealerships. Surrounding national brands include Quality Inn, Comfort Suites, Walmart Supercenter, Home Depot, Best Buy, Lowes, Sams Club, Target, Kohls, Michaels, Old Navy, Olive Garden, Outback Steakhouse, Red Lobster and many more.

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