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STNL AutoZone/BBB Credit/Below Market Rent 1102 E Church St 6,786 SF Retail Building Cherryville, NC 28021 $1,787,900 CAD ($263.47 CAD/SF) 6% Cap Rate
Investment Highlights
- Auto Zone (NYSE: ATO) publicly traded / Investment grade BBB (S&P)
- Below Market Rent & Growing income stream - 10% Increase in rent every 5 years
- 26 Years at this location with 20 years of potential option term remaining
- STNL ease of management as tenant responsible for property taxes, liability insurance, and recurring operating expenses
- Land & building ownership provide tax benefits - Ideal for 1031 exchange
- Located in high growth suburb of Charlotte, NC
Executive Summary
Faris Lee Investments is pleased to present the unique opportunity to acquire a Single Tenant Net Lease property occupied by AutoZone, the dominant force in the automotive aftermarket industry. This asset represents an exceptional passive investment, secured by a corporate lease with an investment-grade tenant in the high-growth Charlotte, NC MSA. The property offers fee-simple building ownership at 1102 E Church Street, providing excellent tax benefits through cost segregation and accelerated depreciation.
The investment is backed by an exceptionally strong corporate guarantee. AutoZone (NYSE:AZO) is the largest auto parts retailer in the U.S. and carries a ‘BBB Stable’ investment-grade credit rating from S&P. Operating since 1979, the company demonstrates massive financial strength with a $58 Billion market capitalization (as of May 2026), fiscal year 2025 revenues exceeding $18.9 Billion, and a footprint of over 7,100 stores across the U.S., Mexico, and Brazil. A key feature of this asset is the ease of management provided by the corporate lease structure. The tenant handles property taxes, insurance, utilities, landscaping, HVAC, and dayto-day maintenance. Landlord responsibilities are limited strictly to the roof, structure, and major parking lot replacement, requiring no management overhead. This hands-off structure creates a secure vehicle perfect for a passive investor or 1031 exchange buyer looking for immediate corporate cash flow.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
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-
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| Other Income |
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-
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| Vacancy Loss |
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-
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| Effective Gross Income |
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| Net Operating Income |
$99,999
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$9.99
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Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Amenities
- Freeway Visibility
- Pylon Sign
- Signage
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
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- Retailer
- -
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$9.99
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Lorem Ipsum
-
Jan 0000
AutoZone is the nation's leading retailer and a leading distributor of automotive replacement parts and accessories with stores in the US, Mexico, Brazil and Puerto Rico. Each store carries an extensive line for cars, sport utility vehicles, vans and light trucks, including new and remanufactured hard parts, maintenance items and accessories. AutoZone, headquartered in Memphis, TN, is a growing Fortune 300 company with a deep commitment to serving their customers, communities and fellow AutoZoners. They have vast opportunities in their stores, distribution centers, field offices, specialty business units and Store Support Center and embrace diverse experiences, backgrounds, knowledge and ideas to strengthen their teams and business. Their team is connected by a deep commitment to their Pledge and Values, principles established more than thirty years ago that reinforce their priorities and team culture.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
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|
Retailer | - | $9.99 | Lorem Ipsum | Jan 0000 |
Property Taxes
| Parcel Number | 212598 | Improvements Assessment | $750,429 CAD |
| Land Assessment | $270,676 CAD | Total Assessment | $1,021,105 CAD |
Property Taxes
Presented by
STNL AutoZone/BBB Credit/Below Market Rent | 1102 E Church St
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