Investment Overview

Marcus & Millichap is proud to offer for sale the corporate guaranteed ground leased AutoZone located along Federal Road in Houston, TX. The property offers a landlord a completely passive ground lease through December 31st, 2034. AutoZone recently executed an early 10-year lease extension demonstrating their commitment to the location for many years to come. AutoZone benefits from their 2-block proximity to Interstate 10 and easy ingress and egress off both Federal Road and Market Street. The store is exposed to a combined 35,300 vehicles daily and is situated on a signalized corner intersection lot spanning 1.01 acres. Nearby retailers in the immediate proximity include Circle K, Sam’s Club, Academy Sports + Outdoors, Home Depot, O’Reilly Auto Parts and Sonic Drive-In. According to Placer.ai, over the trailing 12 months, the subject AutoZone has logged 51,500 visits ranking in the 84th percentile in the state of Texas, and in the 81st percentile nationally. Houston, Texas is the 4th most populated city in the United States and in the state of Texas with over 2,250,000 residents. The city has experienced an average annual population growth rate of 1.80% since 2019. Twenty-four Fortune 500 companies are headquartered in Houston, ranking only third behind New York and Chicago. The diverse economy feeds off it’s key global industries that include energy, life sciences, manufacturing, logistics and aerospace. Port Houston has 97% market share in container trade for Texas and is the 5th ranked U.S. container port in the country. Generating 20.6% of Texas GDP and generating more than 1.35 million jobs in the state, Port Houston is a vital contributor to local and state economy. By 2040, the greater Houston area is expected to add 3.8 million residents.