AutoZone Ground Lease | Mega Hub Format
32,400 SF | Retail Building | Memphis, TN 38116 | $2,880,000 ($89/SF) | 5% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,880,000
- Property Type
-
Retail
- Square Feet
- 32,400 SF
- Price / Square Foot
- $89
Listing Contacts
Adam Birnbrey
Verified Profile
Neal Pringle
Verified Profile
Shawn Massey
Verified Profile
- Property Info
Property Overview
TSCG is pleased to offer for sale a 15-year AutoZone ground lease near the intersection of E Shelby Dr and Elvis Presley Blvd (~41,000 VPD). The Property features a rare AutoZone mega hub store format at approximately 32,400 SF. This AutoZone location is a flagship store for the Memphis headquartered company and provides an investor with long term intrinsic value. The Property is situated next to a brand-new Starbucks and freestanding Foot Locker. Elvis Presley’s Graceland is a Memphis staple and attracts over 500,000 visitors annually. It is a Top 5 home tour in the US and is strategically positioned 2 miles north of the Property. Memphis International Airport (MEM) is home to the FedEx World Hub and is the 2nd busiest cargo airport in the world. MEM saw 4.8 million passengers in 2023 and is minutes to the Property.
Property Details
- Class
- B
- Year Built
- 2023
- Stories
- 1
- Property Subtype
- Vehicle Related, Freestanding, Storefront, Storefront Retail/Office
- Lot Size (sq. ft)
- 91,040 SF
Highlights
- Unique mega hub store with a 32,000+ SF building footprint
- Ultra low rent of $4.44 PSF on large 2+ acre pad
- Signalized corner next to new Starbucks and new Foot Locker
- Mins to Graceland (500,000+ annual visitors) and Memphis International Airport
- Fortune 500 company with headquarters in Memphis
- 165,000+ daytime population within a 5-mile radius
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