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Virtual Drive-By

AutoZone Absolute NNN

2308 Pelham Parkway · Pelham, AL 35124 · Auto Parts / Service

Asking price
$2,005,265
Cap rate
5.85%
NOI
$117,308

Need financing on this deal

We run the asking price and cap rate against a network of 7,000+ lenders to return indicative terms, then package a lender memorandum. Takes about two minutes and we will need your target leverage and timing.

Lease

Lease typeAbsolute NNN
Term remaining13.9 yrs
Expiration06/2040
Rent bumps10% Every 5 Years
Options4 x 5 Years
Ground leaseNo
Credit profileCorporate Guarantee
TenancySingle

Planning a 1031 Exchange

Give us your relinquished sale close date and we will calculate your 45-day identification and 180-day closing deadlines, track the clock, and surface matching inventory before it expires. We coordinate directly with your Qualified Intermediary and can introduce one if you have not yet engaged an exchange accommodator. Investment Grade does not provide tax or legal advice.

Property

Building SF3,150
Price / SF$637
Year built1994
Lot size0.48 ac
TypeAuto Shop
Days on market20

Need year-one bonus depreciation

Building age, size and improvement mix drive how much of this asset a cost segregation study can accelerate into year one. Tell us your tax year and entity and we will model the deduction.

Investment highlights

  • ​LONG-TERM COMMITMENT: 14 years remaining on an absolute NNN lease with 4, 5 year options to extend.
  • ​STRONG CORPORATE GUARANTEE: The lease is backed by Express Oil Change/Mavis Tires, one of the leading automotive service operators in the United States.
  • ​BONUS DEPRECIATION: The asset is eligible for 100% bonus depreciation, enabling accelerated depreciation and improved early-year cash flow.
  • ​ZERO LANDLORD RESPONSIBILITIES: Tenant operates under an absolute NNN lease structure, ensuring true passive ownership for investors. All expenses—including taxes, insurance, maintenance, and repairs—are fully covered by the tenant, providing stable income throughout the lease term.
  • ​AFFLUENT SURROUNDING DEMOGRAPHICS: Located in one of Birmingham’s most affluent submarkets, the property is anchored by a prosperous customer base, with average household incomes exceeding $116,000 within a 5-mile radius.
  • ​WELL POSITIONED: Strategically positioned along Pelham Parkway, a major highway carrying over 30,000 vehicles per day, the property enjoys exceptional visibility and exposure to a steady flow of traffic.

Take the next step on this property

We represent buyers on a cooperating commission basis. On the majority of transactions there is no separate fee to you.

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Property details and lease terms are open. Photography, the offering memorandum, lease abstract and due diligence materials are shared with registered buyers.

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Asking-market observation aggregated from public listing sources, last observed Sep 25, 2026. Figures are asking price and asking cap rate as published by the listing party, not a verified closed transaction. Lease terms shown where reported by the listing party and not independently verified. Shown for market reference only; this is not an offering. Investment Grade Income Property, LP represents buyers on a cooperating commission basis.