5110 W State Road 46 - Auto Repair FOR SALE


Sanford, FL 32771
$1,281,553 USD
847-562-8500
5110 W State Road 46, Sanford, FL for Sale
$1,281,553 USD
Auto Repair - FOR SALE
1/7
null | 5.15% Cap Rate

5110 W State Road 46
Sanford, FL 32771


HIGHLIGHTS

  • Ground Lease – Absolute NNN - Zero landlord responsibilities
  • 10% Rental Escalations Every Five Years - Throughout primary term and all four options (Next occurring June 2027)
  • Below market rent - (Current: $8.89/SF vs Submarket: $23.55/SF)
  • Primary Corridor Location - Fronts State Road 46 (28,000), Proximity to Interstate 4 (140,000 VPD) & State Hwy 417 (45,000 VPD)
  • Strong Demographics - 111,000+ residents, $132,000+ average household income within 5 miles
  • No State Income Tax - Florida’s lack of personal income tax boosts after-tax returns

OVERVIEW

The Boulder Group is pleased to exclusively market for sale a single tenant ground leased AutoZone property positioned within the Orlando MSA in Sanford, Florida. AutoZone has operated at this location since the property’s construction in 2017. The ground lease runs through May 2032 and is absolute triple net, presenting zero landlord responsibilities. The lease also includes 10% rental escalations every ?ve years (next occurring June 2027), throughout the primary term and across four ?ve-year renewal options. The current rent of $8.89/SF is signi?cantly below the submarket rate of $23.55/SF, according to CoStar. The lease is backed by a corporate guaranty from AutoZone, which carries an investment-grade S&P rating of BBB. Additionally, Florida is a state with no personal income tax. The 7,424 square-foot property is positioned along State Road 46 (28,000 VPD), a primary east-west arterial in the Lake Forest area of west Sanford. Additionally, it is less than two miles from Interstate 4 (140,000 VPD) - the region’s principal interstate linking Orlando, Daytona Beach, and Tampa. The site also bene?ts from additional access to State Road 417 and State Road 429. The immediate trade area is supported by a strong roster of national retailers, including Target, Publix, Walmart, BJ’s Wholesale, Sam’s Club, Kohl’s, Floor & Décor, Old Navy, Marshalls, Burlington, and many others. The property further bene?ts from a dense nearby concentration of automotive dealerships, including Mercedes-Benz, Audi, Cadillac, Acura, Toyota, Honda, Hyundai, Ford, Chevrolet, Dodge Jeep Ram Chrysler, and CarMax, reinforcing the site’s positioning within an established automotive retail destination. Sanford is home to Orlando Sanford International Airport, which served more than 3.1 million passengers in 2025. There are more than 111,000 residents within a ?ve-mile radius of the property, earning an average household income exceeding $132,000. AutoZone, Inc. (NYSE: AZO) is the largest retailer of aftermarket automotive parts and accessories in the United States. Founded in 1979 and headquartered in Memphis, Tennessee, the tenant operates approximately 7,600 stores across the United States, Mexico, Brazil, Puerto Rico, and the U.S. Virgin Islands. AutoZone generated $18.9 billion in revenue and $2.5 billion in net income in fiscal 2025 and continues to expand its national footprint, opening more than 300 net new stores during the year.

FOR SALE DETAILS

PRICE

$1,281,553 USD

PRICE/SF

$173 USD /SF

CAP RATE

5.15%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

AutoZone (Ground Lease)

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2017

SPRINKLERS

-

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.92 AC

LAND SF

39,931 SF

ZONING

C-2

APN/PARCEL ID

30-19-30-529-0000-C2A0

ASK ABOUT THIS PROPERTY

Jimmy GoodmanThe Boulder GroupMore Info
847-562-8500

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Jimmy GoodmanThe Boulder GroupMore Info
847-562-8500

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.