3716 Reynolda Rd Winston Salem, NC 27106-2232

Property Details for 3716 Reynolda Rd

Year built

1960

Construction

CONCRETE

Lot size

0.67 lot acres

Property size

7,998 SF

Zone code

HB

Property type

Retail space

APN

6807-99-8550.00

APU

680799855000

Description

This exceptional investment opportunity presents a single-tenant, corporate net-leased AutoZone property located in Winston-Salem, North Carolina. The 8,000-square-foot building sits on a 0.67-acre lot at 3716 Reynolda Road, offering convenient access to Wake Forest University, a highly-ranked institution with over 8,950 students. The property boasts a strong location within a vibrant community, with over 104,700 residents and an average household income exceeding $115,000 within a five-mile radius. The current lease, with AutoZone (NYSE: AZO), a publicly traded company with an investment-grade credit rating of "BBB" from S&P and "Baa1" from Moody's, commenced January 23, 1996, and extends until September 30, 2034, providing a remaining term of approximately 9.9 years. The lease includes rent increases every five years. The property's Net Operating Income (NOI) is $40,200, resulting in a 5.00% cap rate. Recent improvements include a new roof installed in 2020 with a 15-year transferable warranty and new HVAC units installed in 2017. The asking price is $804,000, representing a below-market rent of $0.41 per square foot and a below-replacement cost of $100 per square foot, presenting significant upside potential. This AutoZone store is ranked within the top 35% of all 222 stores in the state, demonstrating its strong performance. The property's APN is 6807-99-8550.00. This is a compelling investment opportunity with a long-term lease, strong tenant, and significant upside potential in a desirable location.

Location Insight

City

Winston Salem

County

Forsyth

State

North Carolina

Longitude

-80.3216

Latitude

36.1594

CBSA code

49180

CBSA name

WINSTON-SALEM, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments