Description

Exclusively offering the fee simple interest in a free-standing AutoZone retail property located in Allentown, PA. The 11,705 SF building, which includes a spacious storage basement, was originally built in 1948 as a car dealership and fully renovated to AutoZone’s specifications in 2009. Featuring a prominent position along Tilghman Street, the property benefits from strong visibility and surrounding national retailers such as McDonald’s, Dunkin’, Rite Aid, and Subway. The tenant recently extended the original 2009 lease for an additional 10 years with no rent reduction—the landlord waived two scheduled rent increases in exchange for the early renewal—demonstrating the store’s solid performance. The lease includes approximately 10% rent escalations every five years and is triple net, with the landlord responsible only for the roof and structure. The roof is covered by a 15-year warranty beginning in 2023.