1235 S Market St Elizabethtown, PA 17022

Property Details for 1235 S Market St

Lot size

0.85 lot acres

Zone code

C-G

Property type

Auto shops

APN

250-40734-0-0000

APU

2504073400000

Description

This exceptional investment opportunity presents a fee-simple, single-tenant, absolute NNN retail property leased to AutoZone. Located at 1235 S Market St, Elizabethtown, PA 17022, this 6,816 square foot building, constructed in 2023, sits on a 1.15-acre lot. The property boasts a 20-year lease commencing June 1, 2023, with a remaining term of 18.5 years. The lease includes two 5% rent bumps, in year 11 and year 16, and four 5-year lease options. The current annual net operating income (NOI) is $140,004, resulting in a 4.75% capitalization rate. The asking price is $2,947,453, translating to a price per square foot of $432.43. This strategically located property benefits from high traffic counts on South Market Street (20,177 vehicles per day), proximity to Interstate PA-283 (under 1.5 miles), and its position near Elizabethtown College and other national retailers. The property is situated in a high-growth area, experiencing a 10.6% population increase within a 5-mile radius since 2010. The lease is corporately guaranteed by AutoZone Corp. (S&P: BBB), a financially stable company operating over 6,000 locations nationwide. This is a rare opportunity to acquire a brand-new, high-performing AutoZone location with significant long-term growth potential.