This Retail Property is Off-Market.

1003 West Main Street
Woodbury, TN 37190 ·

7,370 SF · Retail For Sale

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AutoZone

Price N/A Commission Split 2%
Building Size 7,370 SF Cap Rate 7%
Property Type Retail No. Stories 1
Property Sub-type Free Standing Bldg Tenancy Single
Property Use Type Net Lease Investment with 10+ years left on lease Year Built 2008
Construction Status Under Construction/Proposed Lot Size 0.70 AC
Listing ID: 15741658 Date Created: 06/04/2008 Last Updated: 11/24/2008

Description

The subject property is a 7,370+/- square foot freestanding AutoZone store located at Highway 70 & Mears Drive, Woodbury, TN 37190. The property is located on a main thoroughfare in Woodbury, with reported daily traffic counts of 11,940 vehicles per day. Local area retailers include Eckerd, Subway, Sonic Drive-In, and Regions Bank.

AutoZone has signed a new 20 Year NN Lease with a projected Rent Commencement Date of 7/1/2008. The Lease includes 4, 5-Year options to extend with 10% rent increases in each. AutoZone pays real estate taxes directly and is required to maintain general liability insurance. Additionally, AutoZone is required to reimburse Landlord for insurance policy premuims related to fire and property damage. Landlord shall be responsible for all HVAC repairs and replacements during the first year of the Lease; thereafter AutoZone shall be responsible for all repairs and replacements up to $500 per occurrence.

Woodbury is located in Cannon County, which is situated in the central part of the State of Tennessee. The municipality is located approximately 20 miles east of Murfreesboro and 60 miles southeast of Nashville.

Woodbury, nestled in the rolling hills of scenic Middle Tennessee, is the seat of Cannon County, a small rural community with a big arts and crafts heritage. The county' s long tradition of white oak basket and chair-making has gained the attention of collectors and museums worldwide, including the Tennessee State Museum, the Smithsonian Institution and The Museum of Folk Culture in Hunan Province in China. In 1992 the community won the Tennessee Governor' s Award in the Arts for supporting the construction of a permanent multi-functional arts center to bolster the local crafts industry and a flourishing community theatre. Woodbury has become a flourishing Mecca of antique stores, craft shops and gift stores. The quiet way of life takes the visitor back in time for an example of living history.

Highlights

  • New 20 Year NN Lease--2008 Construction
  • "First-In Store"--Nearest Advance Auto, O'Reilly, Napa--15+ Miles from Subject Property
  • High Visibility Location--11,940 Vehicles Per Day
  • Trailing 5 Years AutoZone Has Closed 19 Stores While Opening 885
  • No State Income Tax in Tennessee
  • Investment Grade Tenant--BBB+

Research

1003 West Main Street, Woodbury, TN 37190 (Cannon County)

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

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