Highlights
• ~10 years remaining on new lease; 8% rent increase in Feb 2030 • Four 5-year renewal options: 8% rent hikes in first three, 2.7% in fourth • Positioned on a signalized hard corner with frontage and access on three streets • 1.7 miles from the Peace Bridge to Canada (4M+ annual crossings) • Part of the Buffalo–Cheektowaga, NY metro (population 1.16M+) • Tenant: AutoZone — leading auto parts retailer and distributor in the Americas • Nearby retailers: McDonald’s, True Value, Rent-A-Center, Family Dollar, Aaron’s, Dollar General, Metro by T-Mobile, KeyBank, Rainbow Shops, Save A Lot, 7-Eleven
Description
Marcus & Millichap is proud to present the sale of the fee simple interest in a newly renovated 11,400-square-foot single-tenant AutoZone store located in Buffalo, New York. AutoZone recently signed a corporately guaranteed double-net lease with nearly 10 years remaining and an 8% rent increase scheduled for 2030. The lease also includes four five-year renewal options, featuring 8% rent increases in the first three and a 2.7% increase in the final option to help offset inflation. Situated on a 1.03-acre parcel at a high-traffic, signalized intersection with over 13,600 vehicles per day, the property benefits from frontage on three streets, four access points, and a dense daytime population of more than 311,000 people within five miles. Located just 1.7 miles from Canada via the Peace Bridge, the site offers excellent connectivity. Positioned on the western edge of New York State, Buffalo serves as a key gateway for $90 billion in annual U.S.-Canada trade and a major logistics hub. The nearby Niagara Falls area further supports the region’s economy through tourism and hydroelectric power generation. AutoZone, ranked No. 236 on the Fortune 500, reported $18.5 billion in revenue for FY2024 and continues to expand, operating 7,387 stores worldwide with 132 net new U.S. locations added that year. This offering provides investors with a stable, corporately guaranteed lease backed by a Fortune 500 company, secured by a recently renovated, high-visibility retail property in Buffalo, a city of approximately 275,000 residents.
Listing Details
- Cap Rate
5.7%
- Tenancy
Single
- Space Type
specialty
- Sub Category
auto-dealership
- Date Listed
10/15/2025
- Ownership Info
Corporate
- Broker/Agent Co-op
Yes
- Investment Type
Net Lease
- Net Operating Income
$130,000
- Parking Info
38 spaces
Property Specifics
- Property Name
AutoZone
- No of Buildings
1
- No of Stories
1
- No of Units
1
- Year Built
2000
- Building Size
11,400 SF
- Lot Size
1.03 AC
- Year Renovated
2025
- APN
140200-099-350-0007-009-110
- Zoning
N-2C
- Occupancy
100%