AutoZone Ground Lease
16072 N Westwood Dr, Rathdrum, ID 83858
NNN ground lease with investment-grade tenant in fast-growing Rathdrum, Idaho.
Type:Retail
Property size:
7,000 SFLot size:
0.83 AcresPrice / SF:
$154/SF- Added:
- May 15, 2026
- Days on Market:
- 16
- Last Refresh:
- May 16 at 8:51 pm
Property Features for 16072 N Westwood Dr
General Information
- Standard status
- Active
- Size
- 7,000 SF
- Lot size
- 0.83 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 2024
Listing agent Christopher Edwards License #WA 129418
Listing office Hawkins Edwards
Listing date May 15, 2026
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Hawkins Edwards
HighLights
- Absolute NNN ground lease requiring zero landlord management, ideal for passive ownership.
- Corporately guaranteed lease by AutoZone Parts, Inc. with investment‑grade credit ratings (BBB by S&P and Baa1 by Moody's).
- Located adjacent to the #1 performing Super 1 Foods in the country, offering strong co‑tenancy.
- Located in Rathdrum, Idaho, a fast‑growing community in Kootenai County, near Coeur d'Alene.
- New construction (2024) on a 0.83‑acre parcel.
- Located near a 157‑acre mixed‑use development underway.
Overview
The property at 16072 N Westwood Dr, Rathdrum, Idaho, is a ground lease site occupied by AutoZone. The property is offered for sale at $1,080,000, with a 5.00% cap rate. The parcel spans 0.83 acres (36,155 SF) and is situated in a fast-growing community in Kootenai County, Idaho, near Coeur d'Alene and the Idaho-Washington border. The lease is corporately guaranteed by AutoZone Parts, Inc., which holds investment-grade credit ratings of BBB (S&P) and Baa1 (Moody's). Structured as an Absolute NNN ground lease, the investment requires zero landlord management. Rathdrum has grown 19.7% since 2020 within a 3-mile radius, adding residents at 3.9% per year. A 157-acre mixed-use development is underway nearby. The AutoZone sits adjacent to the #1 performing Super 1 Foods in the country.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $105.0k | $15.00 |
| − Vacancy | −$4.2k | −$0.60 |
| EGI | $100.8k | $14.40 |
| − OpEx | −$30.2k | −$4.32 |
| NOI | $70.6k | $10.08 |
7,000 SF · lease $15.00/SF/yr · vacancy 4.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.01M
$882.0K – $1.18M
NOI $70,560 @ 7.0% cap · market cap 6.53%
Second Best
Industrial
$597.2K
$522.6K – $696.8K
NOI $41,807 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,294 @ 7.0% cap · market cap 9.84%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Auto shops
Location Insight
- Map
- Local Demand
- City
- Rathdrum
- County
- Kootenai
- State
- Idaho
- Longitude
- -116.8752243
- Latitude
- 47.8177685
Nearby Similar for Sale
FAQs
What type of property is this?
NNN property - NNN ground lease with investment-grade tenant in fast-growing Rathdrum, Idaho.
Where is this nnn property located?
The property is located at 16072 N Westwood Dr Rathdrum, ID.
What is the asking price?
The asking price for this property is $1,080,000.
What are key features of this property?
This property features: Absolute NNN ground lease requiring zero landlord management, ideal for passive ownership.; Corporately guaranteed lease by AutoZone Parts, Inc. with investment‑grade credit ratings (BBB by S&P and Baa1 by Moody's).; Located adjacent to the #1 performing Super 1 Foods in the country, offering strong co‑tenancy.
