Autozone at 2149 Airline Road, Corpus Christi, Texas
Marcus & Millichap is pleased to present for sale an AutoZone on Airline Road in Corpus Christi, Texas. The subject property is a corporate guarantee AutoZone on a 0.79-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 in the heart of Corpus Christi’s retail core benefiting from the neighboring retail, apartments, hospitals, and medical service providers. Less than a mile away, there are a multitude of shopping centers such as the Sunrise Mall and Shops at La Palmera including national credit tenants such as Macy’s, Forever 21, Chili’s, Sears, Burlington Coat Factory, Planet Fitness, Cinemark Dollar Cinemas, and many more. Notable hospitals and medical service providers include Post Acute Medical Specialty Hospital of Corpus Christi and CHRISTUS Spohn Hospital Corpus Christi. With an average of two cars per household within five miles, there are numerous apartment complexes in close proximity to the property such as the Sawgrass Apartments, Chandlers Mill Apartments, Christiwood Apartments, and Candlewood Apartments.
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.