AUTOZONE - Matthews€¦ · AutoZone also has a commercial sales program that provides commercial credit and prompt delivery of parts and other products to local, regional and national

™

R E T A I L A D V I S O R SOFFERING MEMORANDUM

AUTOZONE 2270 PAXVILLE HWY, MANNING, SC 29102

Matthews Retail Advisors

CONFIDENTIALITY & DISCLAIMER STATEMENT

This Offer ing Memorandum contains select informat ion pertaining to the business and af fa i rs of AutoZone Portfolio located at 2270 Paxville Hwy, Manning, SC 29102 (“Property”) . I t has been prepared by Matthews Retai l Advisors . This Offer ing Memorandum may not be al l - inclusive or contain a l l of the informat ion a prospect ive purchaser may desire. The informat ion contained in th is Offer ing Memorandum is conf ident ia l and furnished solely for the purpose of a review by a prospect ive purchaser of the Property. I t is not to be used for any other purpose or made avai lable to any other person without the wri t ten consent of Sel ler or Matthews Retai l Advisors . The mater ia l is based in part upon informat ion suppl ied by the Sel ler and in part upon f inancial informat ion obtained from sources i t deems rel iable. Owner, nor their of f icers , employees, or agents makes any representat ion or warranty, express or impl ied, as to the accuracy or completeness of th is Offer ing Memorandum or any of i ts contents and no legal l iabi l i ty is assumed or shal l be impl ied with respect thereto. Prospect ive purchasers should make their own project ions and form their own conclusions without rel iance upon the mater ia l contained herein and conduct their own due di l igence.

By acknowledging your receipt of th is Offer ing Memorandum for the Property, you agree:

1 . The Offer ing Memorandum and i ts contents are conf ident ia l ;

2 . You wi l l hold i t and treat i t in the str ictest of conf idence; and

3. You wi l l not , d i rect ly or indirect ly, d isclose or permit anyone else to disclose this Offer ing Memorandum or i ts contents in any fashion or manner detr imental to the interest of the Sel ler.

Owner and Matthews Retai l Advisors expressly reserve the r ight , at their sole discret ion, to reject any and al l expressions of interest or of fers to purchase the Property and to terminate discussions with any person or ent i ty reviewing this Offer ing Memorandum or making an of fer to purchase the Property unless and unt i l a wr i t ten agreement for the purchase and sale of the Property has been ful ly executed and del ivered.

I f you wish not to pursue negot iat ions leading to the acquis i t ion of the Property or in the future you discont inue such negot iat ions, then you agree to purge al l mater ia ls relat ing to th is Property including this Offer ing Memorandum.

A prospect ive purchaser ’s sole and exclusive r ights with respect to th is prospect ive t ransact ion, the Property, or informat ion provided herein or in connect ion with the sale of the Property shal l be l imited to those expressly provided in an executed Purchase Agreement and shal l be subject to the terms thereof. In no event shal l a prospect ive purchaser have any other c la ims against Sel ler or Matthews Retai l Advisors or any of their af f i l iates or any of their respect ive of f icers , Directors , shareholders, owners, employees, or agents for any damages, l iabi l i ty, or causes of act ion relat ing to th is sol ic i tat ion process or the market ing or sale of the Property.

This Offer ing Memorandum shal l not be deemed to represent the state of af fa i rs of the Property or const i tute an indicat ion that there has been no change in the state of af fa i rs of the Property s ince the date this Offer ing Memorandum.

EXCLUSIVELY LISTED BY:

Table of ContentsPRICING & FINANCIAL ANALYSIS

Investments Highlights ............................................... 2Financial Overview ...................................................... 3Company Overview ..................................................... 4

PROPERTY DESCRIPTIONProperty Description ................................................... 6Regional Map..................................................................7Bird’s Eye ....................................................................... 8Tenant Map .................................................................... 9

DEMOGRAPHICSCity Overview ..............................................................12Demographics Report ............................................... 13

Chad KurzManaging Partner DIRECT +1.310.919.5850 MOBILE +1. 562.480.2937 [email protected] License No. 01911198

Conrad SarrealAssociate DIRECT +1.310.919.5760 MOBILE +1. 626.230.1006 [email protected] License No. 01982875

Lawrence BergmanBroker of Record License No. 143281

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Matthews Retail Advisors

Actual Property Photo

Property Description

PRICING & FINANCIAL ANALYSIS

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Actual Property Photo

OFFERING MEMORANDUM | AutoZoneP. 2 Matthews Retail Advisors

INVESTMENT OVERVIEW

INVESTMENT HIGHLIGHTS• Ideal 1031 exchange property with nearly 10 years remaining

on the lease

• Shadow anchored by a Walmart Supercenter

• Great location along a dense retail corridor that includes Verizon Wireless, CVS Bojangles, McDonald’s, Zaxby’s, Wendy’s, Sonic Drive-in, Dollar General, Radio Shack, and more

• Excellent access/visibility from the Paxville Highway with a traffic count of ±4.75 million vehicles per year and across the street from Manning High School

• Nearby Interstate – 95 that connects Florence, SC with Savannah, GA with a traffic count of ±10.2 million vehicles per year

• AutoZone, Inc. (NYSE:AZO) has strong investment grade credit with a S&P rating of BBB, with more than ±5,100 stores, reported revenue of $10.18 billion, and a market cap of $23.45 billion

• Minimal landlord responsibilities – Tenant is responsible for insurance, taxes, and HVAC

Matthews Retail Advisors P. 3AutoZone | OFFERING MEMORANDUM

PRICING ANALYSISFINANCIAL OVERVIEW

Annualized Operating DataMonthly Rent Annual Rent CAP Rate

Current - 01/31/26 $6,583.33 $79,000.00 6.40%

Option 1: 02/01/26 - 01/31/31 $7,373.33 $88,480.00 7.17%

Option 2: 02/01/31 - 01/31/36 $8,258.13 $99,097.60 8.03%

Option 3: 02/01/36 - 01/31/41 $9,249.11 $110,989.31 9.16%

Option 4: 02/01/41 - 01/31/46 $10,359.00 $124,308.02 10.07%

Tenant Summary

Tenant Trade Name AutoZone Inc.

Type of Ownership Fee Simple

Lease Guarantor Corporate

Lease Type NN+

Roof and Structure Landlord Responsible

Original Lease Term Twenty (20) Years

Lease Commencement Date 02/01/06

Lease Expiration Date 1/31/26

Term Remaining on Lease ±10 Years

Increases 12% in Option Periods

Options 4,5-year Options

AUTOZONE 2270 PAXVILLE HWY, MANNING, SC 29102

List Price ........................................................................................... $1,235,000CAP Rate - Current ...................................................................................6.40%Gross Leasable Area ....................................................................... ±6,786 SFLot Size ................................................................ ±1.50 Acres ( ±65,340 SF)Year Built .......................................................................................................2007


COMPANY OVERVIEW

AutoZone, Inc. is the nation’s leading retailer and a leading distributor of

automotive replacement parts and accessories in the United States. It began

operations in 1979 and as of 2014, operate over 5,000 stores in the United

States, including Puerto Rico; 402 stores in Mexico; and 5 stores in Brazil. Each

of its stores carries an extensive product line for cars, sport utility vehicles,

vans and light trucks, including new and remanufactured automotive hard

parts, maintenance items, accessories and non-automotive products.

AutoZone also has a commercial sales program that provides commercial

credit and prompt delivery of parts and other products to local, regional and

national repair garages, dealers, service stations and public sector accounts. It

sells the ALLDATA brand automotive diagnostic and repair software through

www.alldata.com. Additionally, it sells automotive hard parts, maintenance

items, accessories, and non-automotive products through www.autozone.

com, and accessories and performance parts through www.autoanything.com,

and its commercial customers can make purchases through www.autozonepro.

com.

Property Name AutoZone

Property Type Net Lease Auto Parts

Parent Company Trade Name Autozone Inc.

Ownership Public

Credit Rating BBB

Rating Agency Standard & Poor’s

Revenue $10.19 Billion

Net Income $1.07 Billion

Stock Symbol AZO

Board NYSE

No. of Locations ±5,391

No. of Employees ±43,320

Headquartered Memphis, TN

Web Site www.AutoZone.com


PROPERTY DESCRIPTION

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THE OFFERING

Property Name ........................................................................................AutoZone

Property Address ...................................................................2270 Paxville Hwy

Manning, SC 29102

Assessor’s Parcel Number ...................................................169-08-00-007-00

SITE DESCRIPTION

Number of Stories .............................................................................................One

Year Built ............................................................................................................2007

Gross Leasable Area (GLA) ................................................................. ±6,786 SF

Lot Size..........................................................................±1.50 Acres (±65,340 SF)

Type of Ownership ...............................................................................Fee Simple

Parking ...................................................................................±30 Surface Spaces

Parking Ratio................................................................................ ±5.05 : 1,000 SF

Landscaping ........................................................................................Professional

Topography ................................................................................... Generally Level

CONSTRUCTION

Foundation .......................................................................................Concrete Slab

Framing .............................................................................................................. Steel

Exterior ............................................................................................Concrete Block

Parking Surface ............................................................................................Asphalt

Roof ........................................................................................................................Flat


PROPERTY DESCRIPTION PROPERTY DESCRIPTION REGIONAL MAP


BIRD’S EYE MAP | REGIONAL MAP

Paxville Hwy CPD: 16,000

BIRDS EYE


PROPERTY DESCRIPTIONTENANT MAP TENANT MAP



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DEMOGRAPHICS


DEMOGRAPHIC ANALYSIS


CITY OVERVIEW

The City of Manning is centrally located in Clarendon County, just off of Interstate 95 at exits 115 or 119 and 122. Manning is home to more than 13,000 of South Carolina’s friendliest people. Manning’s close proximity to Lake Marion makes it one of the state’s favorite recreational areas for all types of water activities. Lake Marion is famous for it’s landlocked striped bass and Manning is home for the annual Striped Bass Festival.


Population 3-Mile 5-Mile 7-Mile2021 Projection 7,457 10,026 13,3402016 Estimate 7,401 9,985 13,3202010 Census 7,510 10,172 13,6102000 Census 5,958 8,281 11,623Growth 2016 - 2021 26.04% 22.83% 17.10%Growth 2010 - 2016 -1.45% -1.84% -2.13%Growth 2000 - 2010 0.75% 0.41% 0.15%

Households2021 Projection 2,820 3,773 5,0562016 Estimate 2,802 3,756 5,0312010 Census 2,858 3,834 5,1212000 Census 2,227 3,039 4,239Growth 2016 - 2021 28.32% 26.17% 20.79%Growth 2010 - 2016 -1.93% -2.05% -1.75%Growth 2000 - 2010 0.62% 0.46% 0.49%

Income$0 - $15,000 25.61% 24.54% 23.63%$15,000 - $24,999 14.74% 14.68% 14.57%$25,000 - $34,999 14.56% 14.12% 13.78%$35,000 - $49,999 12.15% 12.79% 13.92%$50,000 - $74,999 16.63% 17.00% 17.11%$75,000 - $99,999 7.95% 7.96% 7.98%$100,000 - $124,999 3.02% 3.37% 3.53%$125,000 - $149,999 1.10% 1.35% 1.59%$150,000 - $199,999 2.16% 2.08% 1.95%$200,000 - $249,999 1.00% 0.98% 0.89%$250,000 - $499,999 0.76% 0.79% 0.75%$500,000+ 0.32% 0.34% 0.31%2015 Est. Average Household Income $46,428 $47,438 $47,625

DEMOGRAPHICS REPORT

Matthews Retail Advisors | 841 Apollo Street, Suite 150 | El Segundo, CA 90245 | www.Matthews.com

AUTOZONE2270 Paxville Hwy, Manning SC 29102OFFERING MEMORANDUM

Lawrence BergmanBroker of Record License No. 143281

™

Chad KurzManaging Partner DIRECT +1.310.919.5850 MOBILE +1. 562.480.2937 [email protected] License No. 01911198

Conrad SarrealAssociate DIRECT +1.310.919.5850 MOBILE +1.626.230.1006 [email protected] License No. 01982875

Documents

AUTOZONE - Matthews€¦ · AutoZone also has a commercial sales program that provides commercial credit and prompt delivery of parts and other products to local, regional and national