1235 Market StElizabethtown, PA 17022

Property Details for 1235 Market St

Lot size

0.85 AC

Zone code

C-G

Property type

Retail properties

Property subtype

Auto shops

APN

250-40734-0-0000

APU

2504073400000

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $8,400,996

  6.5%

  $7,754,766

  7%

  $7,200,854

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,154,624

  Geo Method

  $5,869,850

• Alternative Use

  Use

  Valuation

  Residential

  $6,541,434

  Hospitality

  $5,991,919

  Educational

  $4,985,206

  Medical

  $5,156,655

  Retail

  $7,754,766

Location Insight

City

Elizabethtown

County

Lancaster

State

Pennsylvania

Latitude

40.1412

Longitude

-76.5914

CBSA code

29540

CBSA name

LANCASTER, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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