4630 Veterans Memorial Blvd Metairie, LA 70006
Single-tenant AutoZone NNN leased property in Metairie, Louisiana.
Building Details
- Year built
- 2024
Source:
Farislee
Listing Agent: Scott De Young
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
AutoZone NNN Lease Investment
This single-tenant, triple-net (NNN) leased property is occupied by AutoZone, a major retailer in the automotive aftermarket industry. The property is located in Metairie, Louisiana, a suburb of New Orleans. Metairie is the fourth most populous community in Louisiana, with a high-density population of over 133,000 residents within a three-mile radius. The area serves as a regional economic hub and is home to the corporate headquarters and training facilities for the New Orleans Saints (NFL) and the New Orleans Pelicans (NBA). The investment is backed by a corporate guarantee from AutoZone (NYSE: ATO), which carries an investment-grade credit rating of ‘BBB’ from S&P. AutoZone has a market capitalization of approximately $67.42 billion and fiscal year 2024 revenues exceeding $18.5 billion. The triple-net (NNN) lease structure transfers responsibility for property taxes, insurance, and CAM directly to the tenant. The landlord is responsible for roof and structure, as well as parking lot repairs only for the first three years. AutoZone recently executed a new 10-year primary lease term with 4 (5-year) options. The lease includes 8% rental increases every five years.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Auto shops
Similar Places Nearby
Bills Auto Collision, Joe's Auto Services, Bill's Auto, AJ's Transmissions Inc, Firestone Complete Auto Care
Location Insight
- Map
- Local Demand
- City
- Metairie
- County
- Jefferson
- State
- Louisiana
- Longitude
- -90.1871025
- Latitude
- 30.0046993
Nearby Similar for Sale
FAQs
What type of property is this?
Auto shop - Single-tenant AutoZone NNN leased property in Metairie, Louisiana.
Where is this auto shop located?
The property is located at 4630 Veterans Memorial Blvd Metairie, LA.
What are key features of this property?
This property features: - High-Credit Tenant: Leased to AutoZone (NYSE: ATO) with investment-grade credit rating.; - Passive NNN Lease: Management-free investment with tenant responsible for property expenses.; - Long-Term Lease: New 10-year primary lease term with four 5-year options.
