Marcus & Millichap is pleased to offer the opportunity to acquire a 5,509-square foot single-tenant building leased to AutoZone in the desirable Dallas-Fort Worth suburb of Allen, Texas. The absolute net lease has a corporate guarantee from a publicly traded company (NYSE: AZO), with a BBB credit rating from Standard & Poor’s. The tenant recently extended the lease and now has ten years remaining on the term with four five-year options for renewal. Constructed in 1999, the building is situated on a 0.95-acre lot.
The subject property is located on the hard corner of East Main Street and Roaring Springs Drive with ingress and egress points from both roads. Cumulative traffic counts are approximately 28,400 vehicles per day. The property is located in a dense residential area, having a five-mile population exceeding 180,650 residents. It is also a highly affluent area, with an average household income of $121,630 within five miles. Neighboring national and regional retailers include Braum’s, Dollar General, Dairy Queen, Bahama Buck’s, Sonic Drive-In, Chicken Express, DaVita Dialysis, CVS, Walgreens, 7-Eleven, Sears Outlet Store, Dollar Tree, Sherwin-Williams, Papa John’s Pizza, Midas, Big Lots, Dirt Cheap, Ace Cash Express, Subway, KFC, and others. The property is in close proximity to numerous school campuses, including Allen High School and Eagle Stadium, one of the largest high school stadiums in the state with a capacity of 18,000 people.
Allen’s strategic location just 10 minutes north of Dallas in Collin County provides companies and residents all the benefits of a metropolitan area with access to excellent schools and universities, high-tech infrastructure, quality business parks and the interstate highway system. Easy access to telecommunications and technology-related companies further enhance Allen’s position as a leading location for high-tech industry. Allen’s residents are within minutes of major shopping, cultural functions and pro-sporting events.
- Absolute Net Lease | No Landlord Responsibilities
- Corporate Guarantee from a Publicly Traded Company (NYSE: AZO)
- BBB Credit Rating from Standard & Poor’s
- Tenant Recently Extended the Lease Early | Ten Years Remaining on the Primary Term
- Tenant has Four Five-Year Options for Renewal
- Hard Corner Location on East Main Street and Roaring Springs Drive | Cumulative Traffic Counts are 28,400 Vehicles per Day
- Excellent Demographics | Average Household Income within Five Miles is $121,630 | Five-Mile Population Exceeds 180,650
- Numerous School Campuses in Close Proximity | Near Allen High School and Allen ISD’s Eagle Stadium, One of the Largest High School Stadiums in the State with a Capacity of 18,000 People