AutoZone Sublease to TruckPro

Price: $1,912,000
Sq. Ft.: 22,200
Cap Rate: 7.5%
Built: 1973
Absolute Net

The subject property is a 22,200-square foot single-tenant building leased to AutoZone with a sublease with TruckPro. The absolute net lease has a corporate guarantee from a publicly traded company (NYSE: AZO), with a BBB credit rating from Standard & Poor’s. Landlord has zero responsibilities. The tenant recently extended the lease and now has ten years remaining on the term with four five-year options for renewal. The building was constructed in 1973 and sits on 0.85 acres.

The subject property is located on Irving Boulevard, strategically located in a shipping and warehousing district southwest of Interstate 35 and the John W Carpenter Freeway (Highway 183). Neighboring businesses in the district include Southeastern Freight Lines, Rush Truck Center, Rush Bus Center, Used Truck Center – Southwest International, Bruckner’s Mack and Volvo, Engine Rebuilders, Central Transport,  Rich Logistics, Penske Truck Rental, Compass Truck Sales, and many more.  Traffic counts are approximately 30,000 vehicles per day in front of the property. The area is densely populated with a five mile population of 271,140.

  • Corporate Guarantee Through 2022 from AutoZone – Publicly Traded Company (NYSE: AZO)
  • Absolute Net Lease – No Landlord Responsibilities
  • Subleased to TruckPro | One of the Nation’s Largest Independent Distributors of Heavy-Duty Truck and Trailer Parts | Over 150 Retail Locations in 33 States
  • BBB Credit Rating from Standard & Poor’s
  • Building has a New Roof Which was Installed in 2016
  • Tenant Recently Extended the Lease Early | Ten Years Remaining on the Primary Term
  • Tenant has Four Five-Year Options for Renewal
  • Strategically Located in a Shipping and Warehousing District Southwest of I-35 and John W Carpenter Freeway (Highway 183)
  • Traffic Counts are Approximately 30,000 Vehicles per Day on Irving Boulevard
  • The Five Mile Population Exceeds 271,140 People
  • Priced at $86 per Square Foot | Below Replacement Cost