thank you
Your email has been sent.
AutoZone | Absolute NNN Ground Lease 701 N Lexington Springmill Rd 6,840 SF Retail Building Ontario, OH 44906 $894,000 ($130.70/SF) 5% Cap Rate
Investment Highlights
- AutoZone – Absolute NNN Ground Lease – 100% leased with zero landlord responsibilities, including roof, structure, and all capital expenditures
- Corporate Guarantee (NYSE: AZO | S&P: BBB) – Backed by a publicly traded Fortune 500 company and industry-leading automotive retailer
- Top-Tier Site Performance (Placer.ai) – Ranks in the top 85% of AutoZone locations in Ohio and top 71% nationally based on visitation activity
- 4 Years of Firm Lease Term Remaining – Newer 2020 construction – Long-term, stable income stream with no near-term rollover risk
- Signalized Hard Corner Location (27,346 VPD) – Strong visibility and access along a primary commercial corridor 20 parking spaces (2.9 per 1000)
- Outparcel to Regional Healthcare Anchor – Located adjacent to Avita Health Systems – Ontario Hospital, a full-service medical campus employing 2,000+
Executive Summary
Exclusively Listed in association with Bang Realty | License No. BRK.2009000214
We are pleased to present an opportunity to acquire a single-tenant, absolute triple-net (NNN) ground lease AutoZone in Mansfield, Ohio, 100% leased to a nationally recognized and investment-grade (S&P: BBB) automotive retailer. The offering features approximately 14 years of firm lease term remaining, providing long-term, passive income with zero landlord responsibilities.
The lease is corporately guaranteed by AutoZone, Inc. (NYSE: AZO), a publicly traded Fortune 500 company with a $56 billion market cap and an industry leader in aftermarket automotive parts and accessories. The absolute ground lease structure eliminates all landlord obligations, including roof, structure, and capital expenditures, offering a truly passive, management-free investment.
This offering represents a rare opportunity to acquire a net lease asset at a small price point, a segment of the market with limited available inventory. Assets of this size are particularly attractive for 1031 exchange buyers seeking to round out larger transactions, as well as investors looking for entry-level access to institutional-quality net lease real estate, supported by a long-term lease, corporate guarantee, and passive ownership structure.
Mansfield is the county seat of Richland County with direct access to U.S. Route 30 and Interstate 71, providing connectivity to Columbus, Cleveland, and the broader Midwest region. As a regional retail hub supported by healthcare, education, and manufacturing, the market provides a stable economic foundation for long-term net lease investments.
The property is strategically located in Ontario (Mansfield), Ohio at a hard corner intersection (27,346 vehicles per day) along a primary commercial corridor with strong visibility and consistent traffic flow. The 1.33-acre site is an outparcel to The Ontario Center Shopping Mall, anchored by Avita Health Systems – Ontario Hospital, a full-service modern hospital campus employing over 2,000 people across the Avita System in Richland County. The location also benefits from proximity to national retailers and established residential neighborhoods, supporting steady consumer demand driven by daily needs. According to Placer.ai, the location ranks in the top 85% of AutoZone locations in Ohio and top 71% nationally based on visitation activity, further validating the strength of the underlying real estate and trade area.
We are pleased to present an opportunity to acquire a single-tenant, absolute triple-net (NNN) ground lease AutoZone in Mansfield, Ohio, 100% leased to a nationally recognized and investment-grade (S&P: BBB) automotive retailer. The offering features approximately 14 years of firm lease term remaining, providing long-term, passive income with zero landlord responsibilities.
The lease is corporately guaranteed by AutoZone, Inc. (NYSE: AZO), a publicly traded Fortune 500 company with a $56 billion market cap and an industry leader in aftermarket automotive parts and accessories. The absolute ground lease structure eliminates all landlord obligations, including roof, structure, and capital expenditures, offering a truly passive, management-free investment.
This offering represents a rare opportunity to acquire a net lease asset at a small price point, a segment of the market with limited available inventory. Assets of this size are particularly attractive for 1031 exchange buyers seeking to round out larger transactions, as well as investors looking for entry-level access to institutional-quality net lease real estate, supported by a long-term lease, corporate guarantee, and passive ownership structure.
Mansfield is the county seat of Richland County with direct access to U.S. Route 30 and Interstate 71, providing connectivity to Columbus, Cleveland, and the broader Midwest region. As a regional retail hub supported by healthcare, education, and manufacturing, the market provides a stable economic foundation for long-term net lease investments.
The property is strategically located in Ontario (Mansfield), Ohio at a hard corner intersection (27,346 vehicles per day) along a primary commercial corridor with strong visibility and consistent traffic flow. The 1.33-acre site is an outparcel to The Ontario Center Shopping Mall, anchored by Avita Health Systems – Ontario Hospital, a full-service modern hospital campus employing over 2,000 people across the Avita System in Richland County. The location also benefits from proximity to national retailers and established residential neighborhoods, supporting steady consumer demand driven by daily needs. According to Placer.ai, the location ranks in the top 85% of AutoZone locations in Ohio and top 71% nationally based on visitation activity, further validating the strength of the underlying real estate and trade area.
Property Facts
Sale Type
Investment
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Building Size
6,840 SF
Building Class
B
Year Built
2020
Price
$894,000
Price Per SF
$130.70
Cap Rate
5%
NOI
$44,700
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
1.31 AC
Parking
20 Spaces (2.92 Spaces per 1,000 SF Leased)
Fairly walkable
50/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 038-60-176-01-000 | Improvements Assessment | $259,740 |
| Land Assessment | $133,830 | Total Assessment | $393,570 |
Property Taxes
Parcel Number
038-60-176-01-000
Land Assessment
$133,830
Improvements Assessment
$259,740
Total Assessment
$393,570
1 of 6
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
AutoZone | Absolute NNN Ground Lease | 701 N Lexington Springmill Rd
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.