For Sale
$2,947,453

1235 Market St Elizabethtown, PA 17022

High-yield AutoZone NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
134
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

FAQs

What type of property is this?
Retail property - High-yield AutoZone NNN lease, strong tenant.
Where is the retail property located?
The property is located at 1235 Market St Elizabethtown, PA.
What is the asking price?
The asking price for this property is $2,947,453.
What are key features of this property?
This property features: 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.
How can I contact the broker?
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1235 Market St
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