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AutoZone 3770 Goodman Rd W 7,817 SF Retail Building Horn Lake, MS 38637 $1,776,835 ($227.30/SF) 5.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Early Renewal Execution – AutoZone just exercised its first renewal option despite having 9 years still remaining on the base term
- Strong Rent Growth – The renewed lease now includes two 10% rent increases in 2029 and 2034, providing predictable income growth
- Walmart and Kroger Anchored – The trade area is anchored by a Kroger center directly adjacent to the property and a Walmart Supercenter
- Close to AutoZone HQ – The subject AutoZone is located within a 25-minute drive of AutoZone’s global headquarters in downtown Memphis
- Memphis MSA – Although located just across the Mississippi–Tennessee border, Horn Lake is fully integrated into the Memphis MSA
- Robust Trade Area – The Horn Lake Rd & Goodman Rd intersection (38,000 VPD) is a proven retail node anchored by Walmart, Kroger, and ALDI
EXECUTIVE SUMMARY
Phillip Carpenter
License # C-11708 (MS)
Carpenter Properties, Inc.
1437 Old Square Road, Suite 104 Jackson, MS 39211
(866) 889-0550
PROPERTY FACTS
AMENITIES
- Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Retailer
- -
- $11.64
- Double Net
- Apr 2024
AutoZone is the nation's leading retailer and a leading distributor of automotive replacement parts and accessories with stores in the US, Mexico, Brazil and Puerto Rico. Each store carries an extensive line for cars, sport utility vehicles, vans and light trucks, including new and remanufactured hard parts, maintenance items and accessories. AutoZone, headquartered in Memphis, TN, is a growing Fortune 300 company with a deep commitment to serving their customers, communities and fellow AutoZoners. They have vast opportunities in their stores, distribution centers, field offices, specialty business units and Store Support Center and embrace diverse experiences, backgrounds, knowledge and ideas to strengthen their teams and business. Their team is connected by a deep commitment to their Pledge and Values, principles established more than thirty years ago that reinforce their priorities and team culture.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Retailer | - | $11.64 | Double Net | Apr 2024 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 1088283000001200 | Improvements Assessment | $77,332 |
| Land Assessment | $42,911 | Total Assessment | $120,243 |
PROPERTY TAXES
CONTACTS
-
Conrad Sarreal -
Kevin Puder -
Chad Kurz -
Matthews Real Estate Investment Services
Presented by
AutoZone | 3770 Goodman Rd W
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