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Views: 64 Updated: 08.21.24 Posted: 05.13.24 Status: Inactive 08.21.24

Summary

Price $1,295,300
Built/Renov 2003
Tenant AutoZone
Cap Rate 5.25%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 5,400
Lease Start 05-09-2003
#Units 7,140
Price/SF $239.87
Expiration 06-30-2040
Tenant Type Automotive
NOI $68,004
R. Term 15.7
Ownership Fee Simple
Rent/SF $12.59
Increases 1.5%/1/yrs
Pop 5Mi 25,763
Lot/AC 0.40
Options 3/5yrs/1.5%
AHHI 5Mi $98,671

Lease Highlights

  • AutoZone has been operating in this location since 2003
  • The tenant has 15+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 1.5% annual rental escalations throughout the initial term and option periods
  • Corporate guarantee | Investment grade tenant

Location Description

AutoZone is strategically located on Mount Pleasant Road, near I-55 (50,000 VPD), and East Commerce Street (25,763 VPD). The property is surrounded by well-known national tenants including Kroger, Starbucks, McDonald’s, Wendy’s, Sherwin Williams, Walmart, Caliber Collision, and more. Key community educational institutions in the vicinity include Hernando Elementary School, Hernando High...

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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 : 5,805 20,774 27,592
2024 Total Population : 5,533 19,723 26,108
2024 Employed Civilian Pop : 2,372 9,046 12,353
2024 Total Businesses : 501 647 771
2024 Average Household Income : $ 93,536 $ 122,414 $ 128,966
2024 Total Consumer Spending : $ 170 M $ 762 M $ 1053 M
2024 Median Age : 37 39 39
2024 Total Households : 2,068 7,133 9,382
2024 Pop Age 25+: Bachelor's Degree : 767 3,098 4,063
2024 Average Home Value : $ 346,519 $ 358,489 $ 367,092
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
East Valley Street Northern St 2021 2,000 0.11 mi
E South St 2021 670 0.23 mi
East Commerce Street W Center St 2021 23,000 0.29 mi
E Commerce St E PkwySt 2018 25,000 0.29 mi
Hwy 304 Northview St 2015 16,000 0.32 mi
East Robinson Street Fuhrer St 2021 3,300 0.35 mi
Rose Dr 2021 8,100 0.41 mi
2018 8,400 0.41 mi
E Commerce St 2021 7,300 0.46 mi
I- 55 E Commerce St 2018 8,200 0.48 mi

Listing Broker

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