INVESTMENT SALES LEASING ASSET MANAGEMENT...AutoZone has a rich culture and history of going the...
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INVESTMENT SALES| LEASING | ASSET MANAGEMENT AUTOZONE SINGLE TENANT NET LEASED INVESTMENT 2615 S. CHESTNUT | FRESNO, CA
Transcript of INVESTMENT SALES LEASING ASSET MANAGEMENT...AutoZone has a rich culture and history of going the...
INVESTMENT SALES| LEASING | ASSET MANAGEMENT
AUTOZONE
SINGLE TENANT NET LEASED INVESTMENT
2615 S. CHESTNUT | FRESNO, CA
CONTENTSThis Offering Memorandum Presented By:
XAVIER SANTANACEO, [email protected]
FRANK CUEVASInvestments [email protected]
BILL JOHNSONInvestments [email protected]
® 2019 Northgate Commercial Real Estate. We obtained the information in this offering memorandum from sources we believe to be reliable. However, we have not verified its accuracy and make guarantee, warranty or representation about it. It is submitted sub-ject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.
1 Investment Highlights
2 Area Overview
3 Market View
5 Tenant Profile
6 Leasing Abstract
INVESTMENT HIGHLIGHTS
AUTOZONE | 2615 S CHESTNUT AVE, FRESNO CA1
OFFERING PRICE: $2,800,000
NOI: $172,440
CAP RATE: 6.16%
APN(s): 481-140-25
BUILDING SIZE: 6,480 SF
PARCEL SIZE: 1.42 AC
ZONING: LIGHT INDUSTRIAL
CURRENT OCCUPANCY: 100%
TRAFFIC COUNTS: S CHESTNUT AVE - ±24,115 ADTE JENSEN AVE - ± 1,217 ADT
• AutoZone — $10.89 Billion Market Cap.
• Performance — Strong performing store location.
• Visibility — High Identity Building. • Credit — BAA credit rating.
• Residents — Strong consumer base with surrounding residential population and work force (±88,000 within 3 mile radius).
• Rent — $14,370 monthly rent, with 10% escalators every 5 years.
• Area Co-tenants — area co-tenants inlcude Subway, Dollar General, 7-Eleven and more (See Market View).
• Location — Hard, signalized corner.
AREA OVERVIEW
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• Fresno County was formed in 1856 from parts of Mariposa, Merced and Tulare counties. Fresno is Spanish for “ash tree” and it was in recognition of the abundance of the shrubby local Ash, Fraxinus dipetala, growing along the San Joaquin River that it received its name. Parts of Fresno County’s territory were given to Mono County in 1861 and to Madera County in 1893. The original county seat was along the San Joaquin River in Millerton, but was moved to the rapidly growing town of Fresno on the newly built Southern Pacific Railroad line after a flood destroyed much of the town.
FRESNO, CA
2019 Estimated Population 2024 Projected Population
2019 Households
213,782 1,000,0001,040,000
322,821
$74,730
223,809
59,466
$51,794 2019 Household Income
FRESNO COUNTY
• Fresno was founded by the Central Pacific Railroad Company in 1872. The location for the town was uninviting at best, with barren sand plains in all directions. Leland J. Stanford, a Director for the Railroad, is credited with selecting the site of the new station. On a scouting party in 1871 Stanford noticed a wheat field belonging to A.Y. Easterby, lush and green in the middle of the dry prairie. Stanford announced, “Wonderful! Here we must build the town!” Fresno became the county seat in 1874 and was incorporated in 1885. By 1890 the population was over 10,000. The first streetcars were introduced in 1892 and streetcar suburbs soon followed. The area has had an ethnic mix from the earliest years with Chinese railroad workers and Scandinavian farmers joined by Germans from Russia, Japanese and Armenians and by the early 20th century a large Hispanic population. There are now more than 70 ethnic groups in the metropolitan area
• Fresno County is ranked first in the nation for agricultural production with annual sales in excess of $3 billion. Major crops include grapes, almonds, cotton, peaches and nectarines. Notable Fresnans include Maynard Dixon (artist), Audra McDonald (actress, singer), Barbara Morgan (astronaut) and William Saroyan (author).
• California State University, Fresno is a public university in Fresno, California. It is one of 23 cam-puses within the California State University system.The university’s unique facilities include an on-campus planetarium, on-campus raisin and wine grape vineyards, and a commercial winery, where student-made wines have won over 300 awards since 1997.Members of Fresno State’s nationally ranked Top 10 Equestrian Team have the option of housing their horses on campus, next to indoor and outdoor arenas. Fresno State has a 50,000-square-foot Student Recreation Centerand the third-largest library (by square footage) in the California State University system.The university is classified as a doctoral university with moderate research activity in the Carne-gie Classification, as of the February 1, 2016 update.
DEMOGRAPHICS FRESNO FRESNO COUNTY
AUTOZONE | 2615 S CHESTNUT AVE, FRESNO, CA
CSU FRESNO
1-3-5 RADIAL MAP
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MARKET VIEW
AUTOZONE | 2615 S CHESTNUT AVE, FRESNO, CA
FACING NORTH
MARKET VIEW
AUTOZONE | 2615 S CHESTNUT AVE, FRESNO, CA4
FACING WEST
TENANT PROFILE
AUTOZONE
5AUTOZONE | 2615 S CHESTNUT AVE, FRESNO, CA
HEADQUARTERS
MEMPHIS, TN
LOCATIONS
5,780
REVENUE
$10.89 BILLION
NYSE: AZO
PUBLIC
For more than 37 years, AutoZone has been committed to providing the best parts, prices and customer service in the automotive aftermarket industry. AutoZone has a rich culture and history of going the Extra Mile for our customers and our community.
Today, AutoZone is the leading retailer and a leading distributor of automotive replacement parts and accessories in the U.S...
AutoZone is the nation’s leading retailer and a leading distributor of automotive replacement parts and accessories with more than 6,000 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
re-manufactured hard parts, maintenance items and accessories. Since opening its first store in Forrest City, Ark. on July 4, 1979, the company has joined the New York Stock Exchange (NYSE: AZO) and earned a spot in the Fortune 500.
AUTOZONE | 2615 S CHESTNUT AVE, FRESNO, CA6
AUTOZONE
Lease Commencement: December 1, 2008
Tenant: AutoZone Development Corporation (A Nevada Corp.)
Monthly Rent: $14,370
Lease Expirations: November 31, 2023
Options: Five; (5) Years per option
Rental Increases: 10% Every Five Years
Lease Type: Net Lease
Deposit: None
Landlord Maintenance Obligations: Maintain Building Structural Elements
LEASING ABSTRACT
INVESTMENT SALES| LEASING | ASSET MANAGEMENT
FRANK CUEVASInvestments [email protected]
BILL JOHNSONInvestments [email protected]
XAVIER SANTANACEO, [email protected]
INVESTMENT ADVISORS
® 2019 Northgate Commercial Real Estate. We obtained the information above from sources we believe to be re-liable. However, we have not verified its accuracy and make guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omis-sions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.
