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Views: 82 DOM: 162 Updated: 04.18.24 Posted: 11.08.23 Status: Sold 04.18.24

Summary

Price $1,200,000 $1,333,300
Built/Renov 2024
Tenant AutoZone (GL)
Cap Rate 5.00% 4.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 7,376
Lease Start 04-01-2024
#Units 6,943
Price/SF $162.69 $180.76
Expiration 04-01-2039
Tenant Type Automotive
NOI $60,000
R. Term 14.10
Ownership Ground Lease
Rent/SF $8.13
Increases 6.0%/5/yrs
Pop 5Mi 374,991
Lot/AC 0.89
Options 3/5yrs/6%
AHHI 5Mi $126,414

Lease Highlights

  • New high-quality 2024 construction
  • AutoZone recently signed a new 15-year ground lease with 3 (5-year) options to extend
  • The lease features 6% rental increases every 5 years
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed | Investment grade tenant

Location Description

This AutoZone is currently being constructed, with excellent frontage and accessibility at the signalized, hard corner intersection of Preston Rd. and Mapleshade Lane which sees a combined 68,4530 vehicles passing by daily. The site is an outparcel to Lowe’s and is adjacent to both a brand-new Clean Freak Car Wash and a soon to be Dutch Bros. Additionally, the subject property is located...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: AutoZone
  • Guarantor:Corp T and Rated
  • Company:AutoZone, Inc.
  • # Units:6,943
  • Tenant S&P: BBB
  • Moody’s: Baa1
  • Stock: NYSE: AZO

About Tenant

AutoZone, Inc. is an American retailer of aftermarket automotive parts and accessories, the largest in the U.S. Founded in 1979, the chain now has 6,168 stores in 50 states in the U.S., 703 stores...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 13,670 127,041 379,175
2023 Total Population : 13,873 126,464 376,320
2023 Employed Civilian Pop : 8,266 69,889 218,687
2023 Total Businesses : 1,163 7,461 21,023
2023 Average Household Income : $ 145,288 $ 142,817 $ 129,456
2023 Total Consumer Spending : $ 850 M $ 6723 M $ 18350 M
2023 Median Age : 43 40 39
2023 Total Households : 6,891 55,077 165,096
2023 Pop Age 25+: Bachelor's Degree : 4,715 36,394 103,127
2023 Average Home Value : $ 525,134 $ 545,080 $ 479,774
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Mapleshade Ln Preston Rd 2009 5,200 0.05 mi
Preston Rd Lloyd Cir 2004 56,540 0.11 mi
Lloyd Cir Preston Rd 2009 2,730 0.16 mi
Preston Rd Lloyd Dr 2001 52,785 0.21 mi
Preston Rd President George Bush Tpke 2009 61,750 0.23 mi
President George Bush Tpke Preston Rd 2004 116,000 0.24 mi
Mapleshade Ln Windmill Ln 2004 2,360 0.27 mi
Fortson Ave Barfield Dr 2004 130 0.36 mi
Lloyd Cir Redstone Cir 2009 2,740 0.37 mi
Preston Rd Alliance Blvd 2012 66,548 0.38 mi

Listing Broker

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