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AutoZone Ground Lease, Denton, TX

AutoZone Ground Lease

Denton, TX

Price $2,452,000
Cap Rate 3.85%
NOI $94,380
Lease Term 8+ Years Remaining
Lease Type NNN Ground Lease, with Tenant Responsible for All Taxes, Insurance, and Maintenance, Including Roof, Structure, and Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2009
Building Size 6,840 SF
Lot Size 1.17 Acres (50,747 SF)
Status Available
Lead Broker Information Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

LONG-TERM GUARANTEED NNN GROUND LEASE
» Long-term NNN ground lease to AutoZone (NYSE: “AZO”)
» 10% rental increases in initial term and option periods, providing an excellent hedge against inflation
» AutoZone has been a Fortune 500 company for the past 20 years

LOCATED IN A HIGHLY POPULATED, AFFLUENT, AND GROWING TEXAS SUBURB
» Located near the signalized hard corner of Teasley Lane and Hickory Creek Road (26,004 AADT)
» 149,616 residents live within a five-mile radius of the property, creating a large customer base for the site
» Located in an affluent area, with an average annual household income of $122,385 within three miles
» Population increase of 30% since 2010, demonstrating Denton’s recent rapid growth

PRIME LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Surrounded by a strong mix of local and national retailers, including Kroger, Sprouts, Walgreens, Starbucks, Chase Bank, and many more
» Three miles from Medical City Denton, one of Denton’s largest employers (208 beds, 1,700 employees and physicians)
» Six miles from University of North Texas, a major Denton community hub (40,796 students, 4,500 faculty and staff, $1.65 billion economic impact)
» Beneficial proximity to Denton’s most highly attended universities and schools, including NCTC North Central Texas College – Corinth Campus, John H. Guyer High School, and Lake Dallas High School (combined 7,686 students)
» Surrounded by high-density single family housing developments and large townhouse complexes



Property Description

The property is conveniently located near the signalized hard-corner of Teasley Lane and Hickory Creek Road (26,004 AADT). 149,616 residents live within a five-mile radius of the property, creating a large customer base for the site. This AutoZone is located in an affluent area as well, with an average annual household income of $122,385 within three miles. The area has also experienced a population increase of 30% since 2010, demonstrating Denton’s recent rapid growth. With a projected 10% average annual household income increase within a three-mile radius of the site in the next five years, Denton and AutoZone are poised for steady concurrent growth.

The property has a prime location near large employers, retailers, and community hubs. The site is surrounded by a strong mix of local and national retailers, including Kroger, Sprouts, Walgreens, McDonald’s, Taco Bell, Starbucks, Domino’s, Chase Bank, and many more. The property resides three miles from Medical City Denton, one of Denton’s largest employers (208 beds, 1,700 employees and physicians), and six miles from University of North Texas, a major Denton community hub (40,796 students, 4,500 faculty and staff, $1.65 billion economic impact). The site features a beneficial proximity to Denton’s most highly attended universities and schools, including NCTC North Central Texas College – Corinth Campus, John H. Guyer High School, and Lake Dallas High School (combined 7,686 students). The property is also surrounded by high-density single family housing developments and large townhouse complexes.

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