Log In/Sign Up
Your email has been sent.
2234 Prairie Ave
Beloit, WI 53511
Retail Property For Sale
Investment Highlights
- AutoZone has maintained continuous occupancy since 1998, recently extending its lease through 2034.
- Long-term rental upside with structured increases in base term and options.
- Dense retail corridor location near national tenants like Walmart and Starbucks.
- New roof and parking lot installed in 2022, with a 20-year transferable warranty.
- Corporate-guaranteed lease by AutoZone Inc. with an S&P BBB credit rating.
- Conveniently located near Beloit Memorial Hospital and major interstates I-39/90 and I-43.
Executive Summary
This AutoZone property presents an attractive net lease investment opportunity in the thriving Beloit retail corridor. AutoZone, a leading national automotive retailer, has occupied the location since 1998 and renewed its lease in 2023 for an additional 10-year term, signifying long-term operational stability. The current double-net lease includes landlord responsibilities for roof, structure, and parking lot, with a new roof and parking lot improvements installed in 2022 under a transferable 20-year warranty.
The property is offered at $845,000 with a 6.25% cap rate, supported by an annual NOI of $52,800. Scheduled rent increases, including a 6.8% bump in 2029 and 7.5% increases during each option period, enhance income growth over time. AutoZone’s corporate guarantee and S&P BBB investment-grade rating further reinforce tenant creditworthiness, ensuring steady cash flow.
Strategically positioned along a high-traffic corridor (+24,800 VPD), the property benefits from proximity to Walmart, Menards, Starbucks, and Beloit Memorial Hospital, which is a major local employer. Coupled with Beloit's economic development and access to key interstates (I-39/90 and I-43), this asset offers investors a durable, income-producing property backed by a nationally recognized brand.
The property is offered at $845,000 with a 6.25% cap rate, supported by an annual NOI of $52,800. Scheduled rent increases, including a 6.8% bump in 2029 and 7.5% increases during each option period, enhance income growth over time. AutoZone’s corporate guarantee and S&P BBB investment-grade rating further reinforce tenant creditworthiness, ensuring steady cash flow.
Strategically positioned along a high-traffic corridor (+24,800 VPD), the property benefits from proximity to Walmart, Menards, Starbucks, and Beloit Memorial Hospital, which is a major local employer. Coupled with Beloit's economic development and access to key interstates (I-39/90 and I-43), this asset offers investors a durable, income-producing property backed by a nationally recognized brand.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
7,749 SF
Building Class
C
Year Built
1976
Price
$1,192,041 CAD
Price Per SF
$153.83 CAD
Cap Rate
6.25%
NOI
$74,485 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Lot Size
1.03 AC
Zoning
C1 - Commercial
Parking
30 Spaces (3.87 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Number | 124-20655 | Improvements Assessment | $1,050,266 CAD |
| Land Assessment | $177,325 CAD | Total Assessment | $1,227,591 CAD |
Property Taxes
Parcel Number
124-20655
Land Assessment
$177,325 CAD
Improvements Assessment
$1,050,266 CAD
Total Assessment
$1,227,591 CAD
1 of 14
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
