For Sale
$2,947,453

1235 Market StElizabethtown, PA 17022

High-yield AutoZone NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a fee-simple, single-tenant, absolute NNN retail property leased to AutoZone. Located at 1235 S Market St, Elizabethtown, PA 17022, this 6,816 square foot building, constructed in 2023, sits on a 1.15-acre lot. The property boasts a 20-year lease commencing June 1, 2023, with a remaining term of 18.5 years. The lease includes two 5% rent bumps, in year 11 and year 16, and four 5-year lease options. The current annual net operating income (NOI) is $140,004, resulting in a 4.75% capitalization rate. The asking price is $2,947,453, translating to a price per square foot of $432.43. This strategically located property benefits from high traffic counts on South Market Street (20,177 vehicles per day), proximity to Interstate PA-283 (under 1.5 miles), and its position near Elizabethtown College and other national retailers. The property is situated in a high-growth area, experiencing a 10.6% population increase within a 5-mile radius since 2010. The lease is corporately guaranteed by AutoZone Corp. (S&P: BBB), a financially stable company operating over 6,000 locations nationwide. This is a rare opportunity to acquire a brand-new, high-performing AutoZone location with significant long-term growth potential.

Highlights

  • AutoZone-anchored retail property in Elizabethtown, PA, within the Lancaster County MSA, 58 miles east of Baltimore.
  • Absolute NNN lease structure; zero landlord responsibilities.
  • 20-year base lease with AutoZone, a rare long-term commitment.
  • Brand new, 2023 build-to-suit construction.
  • Strong corporate guarantee from AutoZone Corp. (S&P: BBB), operating over 6,000 locations.
  • Robust population growth: 10.6% increase within a 5-mile radius since 2010.

Property Details for 1235 Market St

Property type
Retail properties, Auto shops
Square Feet
6,816 SF
Year Built
2023
Buildings
1
Stories
1
Lot Size (sq. ft)
50,094 SF
Units
1

Location Insight

City
Elizabethtown
County
Lancaster
State
Pennsylvania
Latitude
40.141242
Longitude
-76.591407
1235 Market St, Elizabethtown, Pennsylvania

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1235 Market St
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