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AutoZone Investment Opportunity 808 E Main St 7,536 SF Retail Building Gas City, IN 46933 $827,273 ($109.78/SF) 5.50% Cap Rate
Investment Highlights
- AutoZone has successfully operated at this location for more than 20 years.
- Contractual 10% rent increases begin in 2029 and continue in option periods.
- Located within Gas City's established commercial corridor and trade area.
- Lease term extends through July 31, 2039 with renewal options available.
- Frontage along East Main Street provides strong visibility and customer access.
- Occupied by AutoZone Development LLC, affiliated with AutoZone, Inc.
Executive Summary
AutoZone at 808 East Main Street presents the opportunity to acquire a single-tenant net lease retail asset occupied by AutoZone Development LLC, an affiliate of AutoZone, Inc. The property is positioned along East Main Street, a primary commercial corridor serving Gas City and the surrounding trade area. The location benefits from direct frontage, convenient customer access, and connectivity to nearby regional transportation routes that support daily consumer traffic and long-term retail demand.
The tenant has operated at this location for more than two decades and has demonstrated a long-term commitment to the site through an early lease extension. The current lease extends through July 31, 2039, providing approximately 13 years of remaining term, with three additional five-year renewal options. Contractual rent increases of 10% are scheduled in 2029 and throughout each option period, creating built-in income growth over the investment horizon.
Gas City serves a stable residential and commercial market environment supported by local businesses, community services, and established neighborhoods. The property's position within an active retail corridor enhances visibility and accessibility while benefiting from the area's consistent consumer base. The surrounding trade area includes more than 26,000 residents within five miles, supporting ongoing demand for automotive parts and vehicle maintenance services.
AutoZone is one of North America's largest automotive replacement parts retailers, operating thousands of locations across the United States and internationally. Its established brand recognition, extensive operating history, and essential-service business model contribute to the property's long-term tenancy profile. Combined with a net lease structure and scheduled rent growth, the asset offers investors a stabilized retail investment with durable income characteristics.
The tenant has operated at this location for more than two decades and has demonstrated a long-term commitment to the site through an early lease extension. The current lease extends through July 31, 2039, providing approximately 13 years of remaining term, with three additional five-year renewal options. Contractual rent increases of 10% are scheduled in 2029 and throughout each option period, creating built-in income growth over the investment horizon.
Gas City serves a stable residential and commercial market environment supported by local businesses, community services, and established neighborhoods. The property's position within an active retail corridor enhances visibility and accessibility while benefiting from the area's consistent consumer base. The surrounding trade area includes more than 26,000 residents within five miles, supporting ongoing demand for automotive parts and vehicle maintenance services.
AutoZone is one of North America's largest automotive replacement parts retailers, operating thousands of locations across the United States and internationally. Its established brand recognition, extensive operating history, and essential-service business model contribute to the property's long-term tenancy profile. Combined with a net lease structure and scheduled rent growth, the asset offers investors a stabilized retail investment with durable income characteristics.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
7,536 SF
Building Class
C
Year Built
1973
Price
$827,273
Price Per SF
$109.78
Cap Rate
5.50%
NOI
$45,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
1.12 AC
Zoning
M1 - Commercial
Parking
35 Spaces (4.64 Spaces per 1,000 SF Leased)
Frontage
125’ on E Main St
Amenities
- Pylon Sign
- Signage
Fairly walkable
40/100
Very drivable
80/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 27-07-34-401-003.000-018 | Improvements Assessment | $402,700 |
| Land Assessment | $83,900 | Total Assessment | $486,600 |
Property Taxes
Parcel Number
27-07-34-401-003.000-018
Land Assessment
$83,900
Improvements Assessment
$402,700
Total Assessment
$486,600
Contacts
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Robert
Michil
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Joe
Shamoun
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Jay
Dakhoo
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Bang Realty North Carolina Brian Brockman
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