NNN Ground Lease - LoopNet

[Pages:10]NNN Ground Lease

Subject Property

NNN Investment Opportunity

E. Charleston Blvd.

5720 E. Charleston Blvd.

Las Vegas, NV

For more information:

Mark J. Musser Partner 702.534.1714 mmusser@

8945 W. Russell Road, Suite 110, Las Vegas, NV 89148, +1 702.383.3383

PROPERTY SUMMARY

5720 E. Charleston Blvd. Las Vegas, NV

INVESTMENT HIGHLIGHTS

? 20-Year NNN Corporate Ground Lease ? Tenant: AutoZone Development Corporation, Inc. ? Guarantor: AutoZone, Inc. ? (NYSE: AZO), a Fortune 500 Company ? 2012 Construction ? Type of Ownership: Ground Lease ? 10% Increase Every 5 Years ? 3, 5 Years Options to Extend ? High-Traffic Location at Hard Corner

Asking Price: Cap Rate: Rental Income: Land Size: Total Building Size: Lease Term: Rent Commencement: Lease Type: Address: Zoning:

$2,300,000 4.25% $97,800 0.92 AC 7,381 SF Twenty (20) Years March 1, 2012 NNN - Ground Lease 5720 E. Charleston Blvd. C-1

8945 W. Russell Road, Suite 110, Las Vegas, NV 89148, +1 702.383.3383

LEASE SUMMARY

Rental Income:

AutoZone, Inc. - $92,400 Water Mill Express, LLC - $5,400 Total: $97,800

Rental Increases: 10% Every 5 Years

Lease Term:

20 Years, 14.5 Years Remaining

Lease Type:

NNN - Ground Lease

Renewal Options: 3, 5 Years Options to Renew

Lease Commencement:

AutoZone, Inc. 03/01/2012 Water Mill Express, LLC 04/26/1999

RENT ROLL

Year Current 6-10

11-15 16-20 Extension 1 Extension 2 Extension 3

Monthly Rent $7,700 $8,470 $9,317

$10,248.70 $11,273.57 $12,400.93

Annual Rent $92,400 $101,640 $111,804

$122,984.40 $135,282.84 $148,811.12

Year

Monthly Rent Annual Rent

Current 04/26/14 - 04/25/19

$450

$5,400

04/26/19 - 04/25/24

$550

$6,600

04/26/24 - 04/24/29

$650

$7,800

8945 W. Russell Road, Suite 110, Las Vegas, NV 89148, +1 702.383.3383

TENANT PROFILE

AutoZone, Inc.

As of May 6, 2017, AutoZone operates 5,915 auto parts locations, including 499 in Mexico, nine in Brazil and 26 Interamerican Motor Corporation (`'IMC'') branches. Each AutoZone store carries an extensive product line for cars, sport utility vehicles, vans and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories and non-automotive products. Many of their domestic AutoZone stores have commercial sales program that provide commercial credit and prompt delivery of parts and other products to local, regional and national repair garages, dealers, service stations and public sector accounts. The Company also has commercial programs in AutoZone stores in Mexico and Brazil. IMC branches carry an extensive line of original equipment quality import replacement parts. They also sell the ALLDATA brand automotive diagnostic and repair software through and . Additionally, they sell automotive hard parts, maintenance items, accessories and non-automotive products through , and accessories, performance and replacement parts through , and our commercial customers can make purchases through and imcparts. net.

Each of the Company's AutoZoners is committed to the highest level of customer service - every store has AutoZoners equipped with the tools and knowledge necessary to provide the highest level of technical advice and diagnostic support to their customers. AutoZone's website, , can be used to order parts online or to look up parts in the customer's local AutoZone store. The website is also a great resource for helpful maintenance and repair information. Through ALLDATA, the Company provides the most comprehensive electronic diagnostic and repair information available to professional mechanics either online, on CD or DVD.

The Company was founded in 1979 and has been publicly held since 1991. AutoZone stock trades on the New York Stock Exchange under the ticker symbol "AZO" and is included in the Standard & Poor's 500 index. AutoZone is also recognized on the list of Fortune 500 companies.

Gross Margin:

Gross profit for fiscal 2016 was $5.609 billion, or 52.7% of net sales, compared with $5.327 billion, or 52.3% of net sales for fiscal 2015. The improvement in gross margin was attributable to lower acquisition costs, partially offset by higher supply chain costs associated with current year inventory initiatives (-18 basis points).

8945 W. Russell Road, Suite 110, Las Vegas, NV 89148, +1 702.383.3383

TENANT PROFILE

Watermill Express, LLC.

Watermill Express is the nation's largest drive-up pure drinking water and ice company serving thousands of customers a day at numerous locations across the country. Customers supply their own clean containers and drive up to the Watermill to purchase great-tasting water at a fraction of the price they would pay for bottled water. Since inception, Watermill Express customers have saved over 500,000,000 1-gallon single-use water bottles from our nation's landfills. Watermill Express is the original creator of the drive-up concept over 20 years ago and offers our 100% Freshness GuaranteeTM: If their customers ever have a problem with the Company's water, it will be replaced for free.

8945 W. Russell Road, Suite 110, Las Vegas, NV 89148, +1 702.383.3383

N. Nellis Blvd.

N. Christy Ln. R"eTshoertStCriopri"dor

LOCATION OVERVIEW

5720 E. Charleston Blvd. Las Vegas, NV

? Easy Access to US-95 Freeway ? Surrounding 3 Mile Area Boasts over 225,000 Residents ? Infill Investment Grade Investment Opportunity

Northwest 215

95

15

North

Subject Property

93

Central

Airport

215

515

Southwest

15 Henderson

Subject Property

E. Charleston Blvd.

8945 W. Russell Road, Suite 110, Las Vegas, NV 89148, +1 702.383.3383

LOCATION DEMOGRAPHICS

KEY FACTS

1 Mile Radius

EDUCATION

32,904

Population

3.4

Average Household Size

31.9

Median Age

$51,029

Median Household Income

23%

No High School Diploma

33%

High School Graduate

30%

Some College

14%

Bachelor's/Grad/Prof Degree

BUSINESS

EMPLOYMENT

366

Total Businesses

3,882

Total Employees

INCOME

$51,029

Median Household Income

$18,549

Per Capita Income

$60,246

Median Net Worth

White Collar Blue Collar Services

46% 22% 32%

Households By Income

The largest group: $50,000 - $74,999 (22.2%)

The smallest group: $200,000+ (1.8%)

Indicator ................
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