Rio Grande City, TX - AutoZone

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased AutoZone investment property located in Rio Grande City, Texas. The tenant, AutoZone, after approximately 25 years of operation at this site, recently signed a new 15-year lease extension with six (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases in January of 2029 and then 5% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for an investor.

The AutoZone benefits from having direct access to U.S. Highway 83, the longest highway in Texas, with approximately 35,900 vehicles per day, providing strong visibility and consistent consumer traffic to the site. U.S. Highway 83 is the major retail thoroughfare serving the city of Rio Grande City. The lease is corporately guaranteed by AutoZone, Inc. (NYSE: AZO), a publicly traded corporation with an investment-grade S&P credit rating of BBB. The property is located on a large 1.83-acre parcel offering investors flexibility for future redevelopment potential. AutoZone is also located across from Starr Plaza, a 177,703-square-foot center anchored by H-E-B and Marshalls. The property sits in the center of a primary retail corridor with other nearby national and credit tenants including Walmart Supercenter, AMC Theatres, Chick-fil-A, Starbucks, Dollar Tree, Tractor Supply, Dutch Bros, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 24,000 and 8,000 employees, with an average household income of $68,926.

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