fort worth, · price $1,429,090 cap rate 5.50% noi $78,600 price per square foot $262.00 rent per...
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3 2 0 0 R A C E S T R E E TF O R T W O R T H , T E X A S 7 6 1 1 1
Fort Worth, Texas
AUTOZONE
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O N M A R K E TA U T O Z O N E I N F O R T W O R T H , T E X A S .
AUTOZONE IN FORT WORTH, TX 4TH FASTEST GROWING CITY IN THE COUNTRY | INCOME TAX FREE STATE
RECENT EXTENDED LEASE WITH 10 YEARS REMAINING ON A MODIFIED TRIPLE-NET LEASE (LANDLORD RESPONSIBLE FOR STRUCTURE)
CORPORATE GUARANTY | AUTOZONE, INCORPORATED (INC.) NEW YORK STOCK EXCHANGE (NYSE): AZO | #278 IN FORTUNE 500 2018
HEDGE AGAINST INFLATION 5% INCREASE IN 2024 AND 10% IN OPTION PERIODS
NEARBY THE AIRPORT FREEWAY MORE THAN 96,030 VEHICLES PER DAY (VPD)
STRONG DEMOGRAPHICS| MORE THAN 70,000 RESIDENTS WITHIN THREE MILES | 11% GROWTH FROM 2010
SIGNALIZED HARD CORNER ON A SIX POINT INTERSECTION MORE THAN 20,000 VEHICLES PER DAY (VPD)
ADDITIONAL TENANTS IN THE IMMEDIATE VICINITY INCLUDE:CHASE BANK, TACO CASA, WALMART SUPERCENTER, CVS/PHARMACY, MCDONALD’S, WENDY’S, WHATABURGER, TACO BELL, AND MANY MORE.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
AUTOZONE | FORT WORTH, TEXAS
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PRICE $1,429,090
CAP RATE 5.50%
NOI $78,600
PRICE PER SQUARE FOOT $262.00
RENT PER SQUARE FOOT $14.46
YEAR BUILT 1996
APPROXIMATE LOT SIZE 0.47 Acres
GROSS LEASEABLE AREA 5,435 SF
TYPE OF OWNERSHIP Fee Simple
LEASE GUARANTOR AutoZone Parts, Incorporated (Inc.)
LEASE TYPE Triple-Net (NNN*)
ROOF Tenant
STRUCTURE Landlord
F I N A N C I A L O V E R V I E W 3 2 0 0 R A C E S T R E E T F O R T W O R T H , T E X A S 7 6 1 1 1
A N N U A L I Z E D O P E R A T I N G D A T ABASE RENT ANNUAL RENT MONTHLY RENT
CURRENT 8/31/2024 $78,600 $6,550
9/1/2024 8/31/2029 $82,530 $6,878 5%
OPTIONS
9/1/2029 8/31/2034 $90,783 $7,565 10%
9/1/2034 8/31/2039 $99,861 $8,322 10%
9/1/2039 8/31/2044 $109,847 $9,154 10%
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
AUTOZONE | FORT WORTH, TEXAS
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AUTOZONE F O R T W O R T H , T E X A S
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LEASE COMMENCEMENT DATE 2/1/1997
LEASE EXPIRATION DATE 8/31/2029
LEASE TERM 10 Years
TERM REMAINING 10 Years
INCREASES 5% in 2024, 10% in Options
OPTIONS TO RENEW 3, 5-Year
FIRST RIGHT OF REFUSAL None
L E A S E S U M M A RY
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
AUTOZONE | FORT WORTH, TEXAS
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For more than 30 years, AutoZone has been committed to providing the best parts, prices and customer service in the automotive aftermarket industry. They have a rich culture and history of going the Extra Mile for their customers and their community.
Today, AutoZone is the leading retailer and a leading distributor of automotive replacement parts and accessories in the United States. AutoZone has over 6,000 stores across the United States, Mexico, and Brazil. The company is based in Memphis, Tennessee
T E N A N T OV E R V I E W
T E N A N T P R O F I L ETENANT TRADE NAME AutoZone
OWNERSHIP PublicTENANT AutoZone
LEASE GUARANTOR AutoZone Development, Limited Liability Company (LLC)
NUMBER OF LOCATIONS 6,000+HEADQUARTERED Memphis, Tennessee
WEB SITE www.autozone.comSALES VOLUME $10.9 Billion
NET WORTH $4.5 BillionSTOCK SYMBOL AZO
BOARD New York Stock Exchange (NYSE)CREDIT RATING BBB
RATING AGENCY Standard & Poors (S&P)RANK #270 in Fortune 500 (2017)
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
AUTOZONE | FORT WORTH, TEXAS
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Fort Worth is the 15th-largest city in the United States and part of the No. 1 tourist destination in Texas, welcoming more than 9.1 million visitors annually. Comprised of eight primary entertainment districts each offering distinct dining, shopping, entertainment and cultural amenities. In only a few days you can enjoy a range of experiences: from NASCAR racing to rodeos, world-class museums to cowboy cuisine, boutique shopping to a Top 5 zoo, biking to horseback riding.
Since the late 20th century several major companies have been headquartered in Fort Worth. These include the John Peter Smith Hospital, Pier 1 Imports, RadioShack, Cash America International, GM Financial, XTO Energy, and the BNSF Railway. Companies with significant presence in the city are Bank of America, Wells Fargo, Lockheed Martin, GE Transportation, and Dallas-based telecommunications company AT&T.
In 2013, Fort Worth-Arlington ranked 15th on Forbes’ list of the Best Places for Business and Careers. In 2018, Fortune named Fort Worth the 18th best city for Hispanic entrepreneurs. In 2018 Dallas-Fort Worth ranked 18th on U.S. News & World Report’s list of 125 Best Places to Live in the USA.
Today, Fort Worth boasts a strong and diverse economy not dependent on any one industry. Companies headquartered in Fort Worth include Burlington Northern Santa Fe, Radio Shack and American Airlines.
A B O U T F O RT W O R T H , T E X A S
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
AUTOZONE | FORT WORTH, TEXAS
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1-Mile 3-Mile 5-Mile 1-Mile 3-Mile 5-Mile 1-Mile 3-Mile 5-Mile
2010 Population 11,246 63,620 216,418 2010 Households 3,454 20,352 73,706 2018 Average HH Income $55,218 $59,164 $59,993
2018 Population 12,274 70,715 246,946 2018 Households 3,756 22,843 84,836 2018 Median HH Income $42,409 $44,698 $42,101
2023 Population 13,168 76,077 266,668 2023 Households 4,024 24,587 91,647 2018 Per Capita Income $16,897 $19,112 $20,610
AUTOZONE | FORT WORTH, TEXAS
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BROKER HEREBY ADVISES ALL PROSPECTIVE PURCHASERS OF NET LEASED PROPERTY AS FOLLOWS:
The i n f o rma t i on con t a i ned i n t he f o l l ow i ng Ma rke t i ng B rochu re i s p rop r i e t a r y and s t r i c t l y con f i den t i a l . I t i s i n t ended t o be r e v i ewed on l y b y t he pa r t y r ece i v i ng i t f r om B roke r and shou l d no t be made a va i l ab l e t o any o t he r pe r son o r en t i t y w i t hou t t he w r i t t en consen t o f B roke r. Th i s Ma rke t i ng B rochu re has been p repa red t o p ro v i de summar y, unve r i f i ed i n f o rma t i on t o p rospec t i v e pu r chase r s , and t o es t ab l i s h on l y a p re l im i na r y l e ve l o f i n t e r e s t i n t he sub j ec t p rope r t y. The i n f o rma t i on con t a i ned he re i n i s no t a subs t i t u t e f o r a t ho rough due d i l i gence i n ves t i ga t i on . B roke r has no t made any i n ves t i ga t i on , and makes no wa r r an t y o r r ep resen t a t i on , w i t h r e spec t t o t he i ncome o r e xpenses f o r t he sub j ec t p rope r t y, t he f u t u r e p ro j ec t ed f i n anc i a l pe r f o rmance o f t he p rope r t y, t he s i z e and squa re f oo t age o f t he p rope r t y and imp rovemen t s , t he p resence o r absence o f con t am ina t i ng subs t ances , PCB ’s o r a sbes tos , t he comp l i ance w i t h S t a t e and Fede ra l r egu l a t i ons , t he phys i ca l cond i t i on o f t he imp rovemen t s t he reon , o r t he f i n anc i a l cond i t i on o r bus i ness p rospec t s o f an y t enan t , o r an y t enan t ’s p l ans o r i n t en t i ons t o con t i nue i t s occupancy o f t he sub j ec t p rope r t y. The i n f o rma t i on con t a i ned i n t h i s Ma r ke t i ng B rochu re has been ob t a i ned f r om sou rces we be l i e ve t o be r e l i ab l e ; howeve r, B roke r has no t ve r i f i ed , and w i l l no t ve r i f y, an y o f t he i n f o rma t i on con t a i ned he re i n , no r has B roke r conduc ted any i n ves t i ga t i on r ega rd i ng t hese ma t t e r s and makes no wa r r an t y o r r ep resen t a t i on wha t soeve r r ega rd i ng t he accu racy o r comp le t eness o f t he i n f o rma t i on p ro v i ded . A l l po t en t i a l buye r s mus t t a ke app rop r i a t e measu res t o ve r i f y a l l o f t he i n f o rma t i on se t f o r t h he re i n .
NON-ENDORSEMENT NOT ICE
B roke r i s no t a f f i l i a t ed w i t h , sponso red by, o r endo r sed by any commerc i a l t enan t o r l e s see i den t i f i ed i n t h i s ma r ke t i ng package. The p resence o f an y co rpo ra t i on ’s l ogo o r name i s no t i n t ended t o i nd i ca t e o r imp l y a f f i l i a t i on w i t h , o r sponso r sh i p o r endo r semen t b y, sa i d co rpo ra t i on o f B roke r, i t s a f f i l i a t e s o r subs i d i a r i e s , o r an y agen t , p roduc t , se r v i ce, o r commerc i a l l i s t i ng o f B roke r, and i s so l e l y i n c l uded f o r t he pu rpose o f p ro v i d i ng t enan t l e s see i n f o rma t i on abou t t h i s l i s t i ng t o p rospec t i v e cus tome r s .
ALL PROPERTY SHOWINGS ARE BY APPO INTMENT ONLY. PLEASE CONSULT YOUR BROKER AGENT FOR MORE DETA ILS.
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CONTACT US
DAN CORCORANLICENSED REAL ESTATE SALESPERSON
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L I C E N S E # : 1 0 4 0 1 2 5 7 9 4 3 ( N Y )
BROKER OF RECORDB e t h a n y B a b c o c k
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