The subject property is a 5,317-square foot freestanding AutoZone located in Cedar Hill, TX (DFW). The absolute net lease has a corporate guarantee from a publicly traded company (NYSE: AZO), and the tenant has a ‘BBB’ investment grade credit rating from Standard & Poors. The tenant recently extended the term an additional five years, leaving over ten years remaining on the primary term. There are four, five-year options for renewal with 10 percent rent escalations scheduled at the beginning of each option period. Constructed in 1999, the building is situated on 0.9 acres.
The subject property is located on East Belt Line Road near the signalized intersection with Cannady Drive. Traffic counts are approximately 24,000-vehicles per day in front of the property. AutoZone lies in the northeastern quadrant of the dense retail trade area located at the intersection of Belt Line Road and J Elmer Weaver Freeway (US 67). Numerous national and regional retailers are in the area, including Walgreens, The Home Depot, Albertsons, Petco, Marshalls, DSW Designer Shoe Warehouse, Hobby Lobby, Toys ‘R Us, Ross Dress for Less, OfficeMax, Pier 1 Imports, CVS, Aldi, Romano’s Macaroni Grill, Chili’s Grill & Bar, Men’s Wearhouse, Kohl’s, Walmart, Kroger, Burlington Coat Factory, Haverty’s Furniture, JCPenney, Tuesday Morning, 24 Hour Fitness, Cinemark, and many others. Over 137,600 residents are within five miles of the property, and the three-mile average household income is $85,250.
Cedar Hill is a city in Dallas and Ellis counties. It is located approximately 16 miles southwest of downtown Dallas and is situated along the eastern shore of Joe Pool Lake and Cedar Hill State Park. Cedar Hill is part of the Best Southwest area, which includes the nearby cities of DeSoto, Duncanville, and Lancaster. Cedar Hill’s commercial development is situated in the heart of the City along Highway 67, and includes the three areas of Uptown, Midtown, and Downtown.
- Absolute Net Lease | No Landlord Responsibilities
- Corporate Guarantee from a Publicly Traded Company (NYSE: AZO)
- Tenant Recently Extended the Lease Term an Additional Five Years, Leaving 10.5 Years Remaining on the Primary Term
- Lease Includes Four, Five-Year Options for Renewal with 10% Rent Bumps
- Tenant Has a ‘BBB’ Investment Grade Credit Rating from S&P
- Located in the Northeastern Quadrant of a Dense Retail Trade Area at the Intersection of Belt Line Road and J Elmer Weaver Fwy (US 67)
- Strong Demographics | Three Mile Average Household Income is $85,250 | Over 137,600 Residents Within Five Miles
- Cedar Hill is Approximately 16 Miles Southwest of Downtown Dallas