AutoZone – Huntsville, AL
Fortis Net Lease is pleased to present this brand new 7,381 SF AutoZone store located in Huntsville, Alabama. The property is secured with a fifteen (15) Year Absolute NNN Ground Lease. The lease contains a 5% rent increase every 5 years, including at each of the four (5 year) options. The lease is corporately guaranteed by AutoZone, Inc. which holds a credit rating of “BBB”, which is classified as Investment Grade. The store has completed construction and just opened in January of 2022. In purchasing this property, you are buying it $800,000 below replacement cost! The strong job and population growth of Huntsville combined with a low cost of living and a high quality of life help explain why the Huntsville real estate market will continue to be a great investment now and in the years to come.
This AutoZone is highly visible as it is strategically positioned on Winchester Road NE which sees 21,000 cars per day, near the signalized intersection at Home Nance Road. The site is adjacent to both a Tire Discounters and a future multi-tenant medical and restaurant building. Directly across from the site sits Aldi, Walgreens, Dollar Tree, Walmart (this Walmart has 1.4 Million annual visitors), and a Publix shopping center. The five mile population from the site is 31,173 and the one mile average household income is $107,850 per year, making this location ideal for an AutoZone. The five mile population growth rate is 5.13%. List price reflects a 3.65% cap rate based on NOI of $44,508.
• Absolute NNN 15 Year Ground Lease | Zero Landlord Responsibility
• 5% Rent Increases Every 5 Years in Primary Term
• Purchase this Property at $800,000 Below Replacement Cost
• Huntsville is the Largest City in Alabama and 2nd Most Populous metro area in the State
• Four (5 Year) Options | 5% Rental Increase At Each Option
• One Mile Household Income $107,850
• Five Mile Population 31,173 | Expected 5.13% Growth
• 21,000 VPD on Winchester Road NE | Near Signalized Intersection
• Investment Grade Store with “BBB” Credit Rating
• Across From a Walmart Center with 1.4 Million Annual Visitors
• Adjacent to Tire Discounters and near Taco Bell, CVS, Publix, Aldi, Dollar Tree
Instate Broker of Record: Brian Brockman | Bang Realty, Inc.