AutoZone Auto Parts For
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8385 Patriot Blvd, Charleston, SC 29418
7,362 SF AutoZone on 1.26 acres, extended lease.
Property Size7,362 SF
Lot Size1.26 Acres
Price / SF$306.98
Days on Market167
Property Features for 8385 Patriot Blvd
General Information
Standard status
Active
Size
7,362 SF
Lot size
1.26 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$113,000
Building Details
Year Built
2006
Buildings
1
Tenancy
Single
Listing Agency:
CBRE - Atlanta
(404) 504-7893
Listed By:
Chris Bosworth · License #GA 248342
Source:
Crexi
Added: Feb 25
Changed: Aug 8
Last Checked: Aug 10 at 2:42PM
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 CBRE - Atlanta
Investment Insights
Based on property information with market context.
The property features a 7,362-square-foot AutoZone Auto Parts store situated on 1.26 acres in North Charleston, South Carolina. Constructed in 2006, the property is under a lease that was recently extended for an additional 15 years, running through 2041. The lease is corporately guaranteed by AutoZone, Inc. and includes 2.5% annual rent increases starting in October 2029 throughout the initial term. There is one option to renew with a 12% rent increase.
Key Highlights
- Long‑term lease extension through 2041 provides stable income stream
- Corporate guaranty from AutoZone, Inc. ensures financial security
- Located in North Charleston, South Carolina (MSA Population: 859,469)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$99,131
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.39%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,982,620
$2.0M
Cap Rate 7%
$1,416,157
$1.4M
Cap Rate 9%
$1,101,456
$1.1M
Market Conditions
NOI Build-Up for 7,362 SF
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.
Gross rent
$154.6K $21.00/SF
− Vacancy
−$13.0K −$1.76/SF
EGI
$141.6K $19.24/SF
− OpEx
−$42.5K −$5.77/SF
NOI
$99.1K $13.47/SF
Area
Charleston, SC
Vacancy
8.40%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,982,620
Cap Rate 7%
$1,416,157
Cap Rate 9%
$1,101,456
Alternative Uses
Best Use
Retail
$1.42M
$1.24M – $1.65M
NOI $99,131 @ 7.0% cap · market cap 4.39%
Second Best
Industrial
$1.14M
$995.3K – $1.33M
NOI $79,626 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,460 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
51
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 29418, SC
24,154
Population
12,334
Households
2
Avg Household Size
37
Median Age
21%
College-Educated
86%
High-School Grad
13.2 sq mi
ZIP Area
1,830
Density / Sq Mi
$62,421
Median Household Income
$41,287
Median Earnings
$1,277
Median Rent
$234,500
Median Home Value
Market
Vacancy Rate% for Retail in Charleston, SC
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- ZF WABCO — 8225 Lincoln Patriot Blvd, North Charleston, SC 29418
Frequently Asked Questions
What type of property is this?
Auto shop - 7,362 SF AutoZone on 1.26 acres, extended lease.
Where is this auto shop located?
The property is located at 8385 Patriot Blvd Charleston, SC.
What is the asking price?
The asking price for this property is $2,260,000.
What are key features of this property?
This property features: Long‑term lease extension through 2041 provides stable income stream; Corporate guaranty from AutoZone, Inc. ensures financial security; Located in North Charleston, South Carolina (MSA Population: 859,469)
