AutoZone (GL)

505 Texas 31, Chandler, TX 75758

$857,000

Cap Rate 5.25%

Views: 153 Updated: 03.26.24 Posted: 11.22.23 Status: Inactive 03.26.24

Summary

Price $857,000	Built/Renov 2024	Tenant AutoZone (GL)
Cap Rate 5.25%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 7,381	Lease Start 02-01-2024	#Units 6,943
Price/SF $116.11	Expiration 01-31-2039	Tenant Type Automotive
NOI $45,000	R. Term 14.2	Ownership Ground Lease
Rent/SF $6.10	Increases 6.0%/5/yrs	Pop 5Mi 10,048
Lot/AC 1.91	Options 4/5yrs/6%	AHHI 5Mi $77,013

Lease Highlights

Brand-new 2024 construction
AutoZone recently signed a brand-new 15-year ground lease with 4 (5-year) options to extend
Lease features 6% rental increase eery 5 years throughout the initial term and at the start of each option 
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

This newly constructed 7-Eleven is strategically located at the signalized, hard corner intersection of Olive Avenue and California Highway 59 with access to over 38,000 vehicles per day. The property consists of a 4,088 square foot retail space, a single row canopy with four fueling stations, eight pumps, and ample parking on a large 1.15-acre parcel. The site benefits from its location along...

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Key Features

New construction
Dense retail corridor
Highway location
Major MSA
Income tax free state
Brand new lease
Long 15+ yr lease
Absolute NNN
Traded and rated company
Investment grade tenant

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Links

AutoZone Wikipedia AutoZone Wikipedia Chandler, Texas Zip Code 75758 Broker Site Page

Maps

Local Information

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 :	2,580	4,846	9,916
2023 Total Population :	2,549	4,726	9,550
2023 Employed Civilian Pop :	1,034	1,933	4,024
2023 Total Businesses :	77	142	211
2023 Average Household Income :	$ 74,056	$ 73,590	$ 83,986
2023 Total Consumer Spending :	$ 66 M	$ 121 M	$ 277 M
2023 Median Age :	43	44	44
2023 Total Households :	1,057	1,927	3,810
2023 Pop Age 25+: Bachelor's Degree :	312	618	1,256
2023 Average Home Value :	$ 252,349	$ 231,230	$ 261,395

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
W Main St	W 3rd St	2013	561	0.11 mi
W Main St	Parker St	2013	448	0.16 mi
West Highway 31	Broad St	2021	15,335	0.23 mi
North Broad Street	Hwy 31	2021	4,103	0.26 mi
Broad St	Noonday Rd	2013	9,769	0.28 mi
East Highway 31	Jones St	2021	22,859	0.30 mi
Noonday Rd	Broad St	2013	724	0.37 mi
Martin St	Broad St	2013	1,251	0.41 mi
Hilltop Dr	Cook St	2013	112	0.52 mi
Susie St	Crestview St	2013	444	0.60 mi

Listing Broker

Bill Asher

Hanley Investment Group

Contact

151 Listings
16092 Views
63 Sold

Jeff Lefko

Hanley Investment Group

Contact

151 Listings
15683 Views
65 Sold

Bill Asher

Bill Asher specializes in advising clients in the acquisition and disposition of retail properties nationwide. With over 20 years of experience in commercial real estate, his transaction expertise, industry relationships, and unparalleled professionalism have allowed him to close and contribute to more than $2 billion in sales, including over 550 sales in the last 10 years. Bill’s dedication and unwavering commitment to his clients have made him one of the top agents at the company earning him

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Jeff Lefko

As Executive Vice President at Hanley Investment Group, Jeff Lefko specializes in advising clients in the acquisition and disposition of retail properties nationwide. Jeff is focused on developing meaningful relationships that go beyond a singular transaction by proactively advising his clients to help achieve their long-term financial goals and objectives. Jeff’s commitment to his clients has allowed him to close over $1.5 billion in sales since 2017, which included 114 transactions va

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