This exceptional investment opportunity presents a 7,324 square foot AutoZone retail property located at 805 N Front St, Philipsburg, PA 16866. The property sits on a 0.89-acre lot and boasts a strong location with an average daily traffic count of 15,097 vehicles. Built in 2010, this Net Lease (NN) property features a corporate AutoZone tenant with a lease commencing April 29, 2009, and expiring July 31, 2035, providing a substantial remaining lease term of approximately 10.7 years. The lease includes attractive 1.50% annual rent increases and two 5-year options, each with the same annual increase. The current annual net operating income (NOI) is $105,000, resulting in a 6.00% cap rate at the asking price of $1,750,000. The low rent of $14.34 per square foot further enhances the investment potential. The property benefits from its proximity to other national retailers such as McDonald's, Taco Bell, Family Dollar, and CVS, indicating a strong retail corridor. Philipsburg, located in central Pennsylvania, offers a desirable location with access to outdoor recreational opportunities in nearby state parks and forests. The surrounding area boasts an average household income of $79,103 and a population of 14,288 within a 5-mile radius, supporting consistent consumer traffic. AutoZone, a national brand with over 6,400 locations and $17.5 billion in revenue, provides a stable and reliable tenant with an S&P rating of BBB. This property represents a compelling investment opportunity with significant long-term potential.
Highlights
Corporate AutoZone with 11 years remaining on lease, 1.5% annual rent increases.
Retail property - Philipsburg, PA: Net Lease Auto Shop
Where is the retail property located?
The property is located at 805 Front St Philipsburg, PA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Corporate AutoZone with 11 years remaining on lease, 1.5% annual rent increases.; Investment-grade tenant (AutoZone, S&P BBB rating) with strong financial performance ($17.5B revenue, 6,400+ locations).; Low rent of $14.34/SF.
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Contacts
Deborah Vannelli
Keith Sturm
Amanda Leathers
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Front St Philipsburg, PA 16866
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Front St Philipsburg, PA 16866
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805 Front St
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