11060 Highway 51 S - Freestanding FOR SALE
Atoka, TN 38004 |
11060 Highway 51 S
Atoka, TN 38004
HIGHLIGHTS
- Early Extension – AutoZone just recently extended their lease 5-years early
- Fee Simple Investment – Most AutoZone properties are subject to a ground lease whereas the owner is not able to depreciate the building
- Below Market Rent – The subject property is paying just $10.70 / SF. According to CoStar market rent is $13.50 / SF
- Income Tax-Free State – Tennessee is one of 7 states without an income tax
- Investment Grade Credit Tenant – AutoZone has an investment grade credit rating of BBB (S&P)
- Memphis Suburb – Atoka is a northern suburb of Memphis with an average household income of $88,000 annually
FOR SALE DETAILS
PRICE
-
CAP RATE
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% LEASED
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TENANCY
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BUILDING DETAILS
PROPERTY NAME
AutoZone - Recent Lease Extension
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Freestanding
TOTAL BUILDING SIZE
6450
STORIES
1
YEAR BUILT
2003
SPRINKLERS
-
PARKING SPACES
42
LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
-
APN/PARCEL ID
111C-B-027.00
