STREAM Capital Partners > Properties > All Properties > Autozone

Autozone

Net Lease

323 W Morris St, Bath, New York
Ownership Type:
Ground Lease
Price:
$1,052,631
Cap Rate:
4.75%
Current Rent:
$50,000
Tenancy:
Single Tenant
Lease Type:
Ground Lease
Lease Term:
20 years
Landlord Responsibilities:
None
Renewal Options:
4, 5 year options
Building Sq. Ft.:
6,816 SF
Rent Increases:
10% every 5 years
Site Size:
1.68 Acres

Investment Highlights

  • Strong Corporate Guaranty: Autozone operates over 6,100 locations nationally and has an S&P rating of BBB
  • Automotive Oriented: Protected against the threat of e-commerce and recession
  • New Lease: Brand new 20 year lease with incorporated rent bumps to hedge against inflation.
  • Retail Corridor: The AutoZone is grocery-anchored by Tops Market and located next to other major retailers such as Dunkin Donuts, Burger Kings, and Taco Bell.
  • Prime Interstate Access: Located just off Interstate 86 (~22,000 VPD), providing seamless connectivity to regional and national transportation routes.
  • Brand new Amazon: The Amazon manufacturing facility in Bath, NY, is now officially open. The $24 million facility is expected to create over 200 jobs, providing a significant economic boost to the county. The company reported $121.2 billion in revenue for the second quarter.
  • Steuben County: Bath, NY, serves as the county seat of Steuben County, which boasts a diverse and talented workforce vital to business success and growth. The county is home to Corning Incorporated’s corporate headquarters and global research and development facility, employing approximately 56,300 people. Additionally, tourism plays a significant role in the local economy, with visitors spending around $120 million in Steuben County annually.
Ownership Type:
Ground Lease
Price:
$1,052,631
Cap Rate:
4.75%
Current Rent:
$50,000
Lease Type:
Ground Lease
Lease Term:
20 years
Landlord Responsibilities:
None
Renewal Options:
4, 5 year options
Building Sq. Ft.:
6,816 SF
Rent Increases:
10% every 5 years
Site Size:
1.68 Acres

Listing Agents

Connor Shell

Managing Director
407.913.9009[email protected]

Phil DiGennaro

Managing Director
203.610.1541[email protected]

Broker of Record: Mike Antonoplos, Lic. #NY-109923763

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