November 8, 2023 – Rob DiFranco, Hernando Perez and Daniel Garcia of Horvath & Tremblay have successfully completed the sale of AutoZone in Lakewood Ranch (Bradenton), Florida. Horvath & Tremblay represented the buyer in the transaction at a sale price of $1,545,408.
AutoZone is located at 11820 SR 64 E in Lakewood Rach (Bradenton), Florida. The new construction AutoZone consists of a 7,381 square foot building situated on a 1.14-acre parcel. AutoZone has a new 15-year Absolute NNN Ground Lease with four (4), 5-year renewal options. The lease calls for attractive 10% rent increase every 5-years throughout the primary lease term and at the start of each of the renewal options providing the investor with an attractive increase in revenue and a hedge against inflation. The property is well located along State Road 64, the area’s primary commercial and commuter corridor. The Property is adjacent to a new construction Christian Brothers Automotive, Circle K, and an ABC (liquor store). AutoZone is located in the affluent community of Lakewood Ranch, the leading multi-generational community in the United States. Lakewood Ranch features twenty-three (23) residential villages providing a captive customer base, three (3) town centers, and several neighborhood plazas featuring over 300 shops and eateries, all of which drive traffic to the area.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.