Available Property
Autozone
319 South Main Street
Leitchfield, Kentucky
$1,380,000
Full Brochure is available here - click to view or download
This investment offering is the ownership in the land under a newly developed AutoZone Auto Parts (NYSE - AZO) retail store in Leitchfield, Kentucky. The Property consists of a ± 0.94 acre parcel of land at the signalized intersection of Highway 259 (aka So. Main Street) and E. White Oak Street with a long term lease from the nation’s leading auto parts retailer. The fifteen year, absolute net lease with sheduled rent increases commenced in April 2021. After many years operating in a smaller in-line space, AutoZone made the decision to relocate to this corner parcel and committed significant capital to construct a 7,100 sf building. AutoZone has constructed all improvements at their sole expense and retains ownership during their tenancy. In the event of default or upon lease expiration, all improvements will revert to the landlowner at no additional expense. Leitchfield is the county seat of Grayson County and is the economic hub for the surrounding communities. Nearby traffic generators include Walmart Supercenter, IGA Grocery, Save A Lot, Walgreens Drugstore, Dollar General, Dollar Tree, Advance Auto, O’Reilly Auto, Twin Lakes Regional Medical Center, City & County offices, Captain D’s, Dairy Queen, Hardee’s, KFC, McDonald’s, Pizza Hut, Rally’s, Sonic Drive-In and Wendy’s. AutoZone Leitchfield offers an investor reliable, long-term income backed by an industry leading auto parts retailer with investment grade credit.
Tenant: Autozone, Inc.
AutoZone is the nation’s leading retailer and distributor of automotive replacement parts and accessories with more than 6,549 stores and more than 85,000 AutoZoners supporting operations on four continents. Each store carries an extensive product line for cars, sport utility vehicles, vans and light trucks, including new and remanufactured hard parts, maintenance items and accessories. The Company also distributes automotive parts to repair garages, dealers and service stations. Since opening its first store in Forrest City, Ark. in 1979, the company has joined the New York Stock Exchange (NYSE: AZO) and earned a spot in the Fortune 500. Operating Profit in 2020 was $2.48 billion. Fiscal year 2020 Same Store Sales increased 7.4%. Cash Flow from Operations was $2.7 billion. Stores are designed for high visual impact with colorful exterior and interiors. Average store revenues in 2020 were $1,940,000.
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