Autozone at 14062 Northwest Boulevard, Corpus Christi, Texas
Marcus & Millichap is pleased to present for sale an AutoZone on Northwest Boulevard in Corpus Christi, Texas. The subject property is a corporate guarantee Autozone on a 1.06-acre lot.
The property is leased under a 20-year absolute net lease with four, five-year options to renew. The lease includes a corporate guarantee from AutoZone, Inc., the nation’s leading retailer and a leading distributor of automotive replacement parts and accessories with $10.64 Billion in revenue and $8.1 Billion in assets. AutoZone is investment grade with a rating of “Baa1” by Moody’s. There are more than 5,000 locations and is headquartered in Memphis, TN. This is a rare opportunity to buy one of the top automotive replacement part and accessories retailers in the nation, with minimal landlord obligations.
The property is strategically located among numerous traffic generators within walking distance such as Sherwin Williams Paint Store, Bank of America Financial Center, Dollar General, Dollar Tree, O’Reilly Auto Parts, Sonic Drive-In and Shell. A few minutes away are numerous shopping centers such as the Five Points Shopping Center, with national credit tenants including Ross Dress for Less, CVS, Pizza Hut, Wingstop, Walmart Supercenter, Chili’s and many more. The subject property is in close proximity to U.S. Highway 77 which boasts traffic counts of over
51,000 cars per day.
Corpus Christi, colloquially Corpus, is a coastal city in the Southern region of Texas; 130 miles southeast of San Antonio, Texas. Its political boundaries encompass Nueces Bay and Corpus Christi Bay. The city’s population was estimated to be over 300,000 in 2014, making it the eighth-most populous city in Texas. The Port of Corpus Christi is the fifth largest port in the United States. The region is served by the Corpus Christi International Airport.