AutoZone

17481 State Highway 58, Decatur, Tennessee 37322

$1,764,400

Cap Rate 5.50%

Views: 67 Updated: 08.21.24 Posted: 05.13.24 Status: Inactive 08.21.24

Summary

Price $1,764,400	Built/Renov 2007	Tenant AutoZone
Cap Rate 5.50%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 6,786	Lease Start 08-01-2007	#Units 7,140
Price/SF $260.01	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 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 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...

...

Key Features

In location for years
Dense retail corridor
Near major nationals
Highway location
Income tax free state
Long 15+ yr lease
Annual rent increases
Traded and rated company
Corporate Guarantee
Investment grade tenant

...

Links

AutoZone Wikipedia AutoZone Wikipedia Decatur, Tennessee Zip Code 37322 Broker Site Page

Maps

Local Information

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,...

...

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

Keith Sturm

Upland Real Estate Group, Inc.

Contact

68 Listings
5995 Views
10 Sold

Amanda Leathers

Upland Real Estate Group, Inc.

Contact

68 Listings
5995 Views
10 Sold

Keith Sturm

With over 25 years of experience in commercial real estate, Keith Sturm is the Principal and CEO of Upland Real Estate Group, Inc, which he founded in 1995. Under his leadership, Upland has been consistently recognized as one of the top commercial real estate brokerage firms by the Minneapolis/St. Paul Business Journal. Keith has also been awarded the “Power Broker” in four out of five years since 2010, as a Top Brokerage Firm in Sales Transactions by Real Estate Forum and CoStar. Keith has man

...

Amanda Leathers

Amanda Leathers has over sixteen years of experience working in net lease sales with a highly motivated and successful team. As an Investment Sales Associate, she has contributed in the completion of over 900 transactions, totaling in excess of $2.8 billion in investment sales nationally. Amanda attended St. Cloud State University, graduating with a Bachelor of Science in Real Estate from the Herberger Business School. Most of her professional career has been at Upland, giving her a unique o

...

Deb Vannelli

Upland Real Estate Group, Inc.

Contact

68 Listings
5995 Views
10 Sold

Deb Vannelli

Deborah Vannelli began her commercial real estate career over twenty-five years ago. Today, Deb is the Director of Net Lease Sales in the Minneapolis-based Upland Real Estate Group, Inc., and she has led her team to complete in excess of 900 net lease sales transactions, which have generated over $2.8 billion. Deb specializes in net lease investment sales on a national scale, representing buyers, sellers, and tenants on the sale or purchase of single and multi-tenant, net-leased investment p

...

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT