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Views: 39 DOM: 103 Updated: 11.25.24 Posted: 08.21.24 Status: Active

Summary

Price $1,687,721
Built/Renov 2007
Tenant AutoZone
Cap Rate 5.75%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 6,786
Lease Start 08-01-2007
#Units 7,140
Price/SF $248.71
Expiration 07-31-2039
Tenant Type Automotive
NOI $97,044
R. Term 14.8
Ownership Fee Simple
Rent/SF $14.30
Increases 1.5%/1/yrs
Pop 5Mi 5,287
Lot/AC 1.13
Options 3/5yrs/1.5%
AHHI 5Mi $75,324

Lease Highlights

  • AutoZone has been operating in this location since 2007
  • The tenant has 14+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 1.5% annual rental increases throughout the initial term and option periods
  • Corporate guarantee | Investment grade tenant

Location Description

AutoZone is strategically located on Highway 58, with access to 4,834 vehicles passing by daily. The property is surrounded by well-known national tenants including Dollar Tree, Piggly Wiggly, McDonald’s, Hardee’s, Dollar General, Subway, and more. Key community educational institutions in the vicinity include Meigs County High School and Decatur City Hall Meigs Middle School. The 5-mile trade...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: AutoZone
  • Guarantor:Corp T and Rated
  • Company:AutoZone, Inc.
  • # Units:7,140
  • 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 7,140 stores in 50 in the U.S., Mexico,...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 1,480 3,601 5,510
2024 Total Population : 1,438 3,477 5,302
2024 Employed Civilian Pop : 529 1,240 1,943
2024 Total Businesses : 98 117 128
2024 Average Household Income : $ 73,314 $ 71,092 $ 72,664
2024 Total Consumer Spending : $ 38 M $ 87 M $ 137 M
2024 Median Age : 44 45 45
2024 Total Households : 574 1,361 2,093
2024 Pop Age 25+: Bachelor's Degree : 91 196 316
2024 Average Home Value : $ 264,329 $ 275,392 $ 280,230
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Jones St 2018 4,834 0.37 mi
State Hwy 58 Jones St 2003 3,530 0.37 mi
Memorial Drive Elm St 2022 2,477 0.41 mi
Decatur Pike Elm St 2022 7,246 0.45 mi
State Hwy 30 Jackson Dr 2003 3,680 0.46 mi
River Rd River Hill Rd 2003 2,210 0.51 mi
Decatur Pike State Hwy30 W 2022 4,886 0.52 mi
River Road Dogwood Ln 2022 1,570 0.67 mi
Highway 58 Co Rd 300 2022 5,278 0.75 mi
STATE HWY. 58 Co Rd 300 2020 4,726 0.81 mi

Listing Broker

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