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Auto Parts

AutoZone (NYSE: AZO) | Houston | Long Term Absolute Net Ground Lease | Recent 10+ Yr Lease Extension

2105 Little York Rd, Houston, TX 77093

Listing Price: $2,383,000

Cap Rate
4.00%
Tenant Name
AutoZone
Years Remaining On Lease
14.8
Gross SF
6,816
Guarantor
Corporate Guarantee
Rentable SF
6,816
Price/Gross SF
$349.62
Lease Type
NNN Ground Lease
Rent Per Square Feet
$13.98

Investment Overview

Houston is the most populous city in the U.S. state of Texas, fourth-most populous city in the United States, most populous city in the Southern United States, as well as the sixth-most populous in North America, with an estimated 2019 population of 2,320,268. Located in Southeast Texas near Galveston Bay and the Gulf of Mexico, it is the seat of Harris County and the principal city of the Greater Houston metropolitan area, which is the fifth-most populous metropolitan statistical area in the United States and the second-most populous in Texas after the Dallas–Fort Worth metroplex, with a population of 7,066,141 in 2019. Houston is the southeast anchor of the greater megaregion known as the Texas Triangle. Houston is the eighth-most expansive city in the United States (including consolidated city-counties). It is the largest city in the United States by total area, whose government is not consolidated with that of a county, parish, or borough. Though primarily in Harris County, small portions of the city extend into Fort Bend and Montgomery counties, bordering other principal communities of Greater Houston such as Sugar Land and The Woodlands.

Investment Highlights

  • Long Term Corporate Backed Absolute Net Ground Lease Featuring a 6% Rental Increase in 2027 & 8% Rental Increase at Each Option. 16+ Year Historical Occupancy.
  • Tenant Extended the Term Early 10+ Years Demonstrating Strong Commitment to the Location.
  • Positioned Along Area's Major Traffic & Retail Corridor - Features Easy Access and Excellent Visibility at a Signalized Hard Corner Location w/ Daily Combined Traffic Counts Exceeding 36k Vehicles.
  • AutoZone has a S&P Investment Grade Credit Rating of "BBB" and is Ranked #238 on the Fortune 500 List with an Annual Revenue of more than $14.6 Billion.
  • Surrounded by Numerous Used Car Dealerships, Tire Shops, Auto Body Shops, Service Centers and Auto Repair Shops.
  • Densely Populated Houston Suburb: Features more than $289k People Residing within a 5-Mile Radius.

Exclusively Listed By

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    Email Alvin

    License(s): CA: 01391653, TX: 0606255

    San Diego

Broker of Record

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3100

    License(s) TX: 0606255

    Texas

Financing By

Auto Parts

AutoZone (NYSE: AZO) | Houston | Long Term Absolute Net Ground Lease | Recent 10+ Yr Lease Extension

Listing Price: $2,383,000

Cap Rate
4.00%
Tenant Name
AutoZone
Years Remaining On Lease
14.8
Gross SF
6,816
Guarantor
Corporate Guarantee
Rentable SF
6,816
Price/Gross SF
$349.62
Lease Type
NNN Ground Lease
Rent Per Square Feet
$13.98

Investment Highlights

  • Long Term Corporate Backed Absolute Net Ground Lease Featuring a 6% Rental Increase in 2027 & 8% Rental Increase at Each Option. 16+ Year Historical Occupancy.
  • Tenant Extended the Term Early 10+ Years Demonstrating Strong Commitment to the Location.
  • Positioned Along Area's Major Traffic & Retail Corridor - Features Easy Access and Excellent Visibility at a Signalized Hard Corner Location w/ Daily Combined Traffic Counts Exceeding 36k Vehicles.
  • AutoZone has a S&P Investment Grade Credit Rating of "BBB" and is Ranked #238 on the Fortune 500 List with an Annual Revenue of more than $14.6 Billion.
  • Surrounded by Numerous Used Car Dealerships, Tire Shops, Auto Body Shops, Service Centers and Auto Repair Shops.
  • Densely Populated Houston Suburb: Features more than $289k People Residing within a 5-Mile Radius.

Investment Overview

Houston is the most populous city in the U.S. state of Texas, fourth-most populous city in the United States, most populous city in the Southern United States, as well as the sixth-most populous in North America, with an estimated 2019 population of 2,320,268. Located in Southeast Texas near Galveston Bay and the Gulf of Mexico, it is the seat of Harris County and the principal city of the Greater Houston metropolitan area, which is the fifth-most populous metropolitan statistical area in the United States and the second-most populous in Texas after the Dallas–Fort Worth metroplex, with a population of 7,066,141 in 2019. Houston is the southeast anchor of the greater megaregion known as the Texas Triangle. Houston is the eighth-most expansive city in the United States (including consolidated city-counties). It is the largest city in the United States by total area, whose government is not consolidated with that of a county, parish, or borough. Though primarily in Harris County, small portions of the city extend into Fort Bend and Montgomery counties, bordering other principal communities of Greater Houston such as Sugar Land and The Woodlands.

Exclusively Listed By

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    Email Alvin

    License(s): CA: 01391653, TX: 0606255

    San Diego

Broker of Record

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3100

    License(s): TX: 0606255

    Texas

Financing By

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