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Virtual Drive-By

AutoZone NN

3770 Goodman Rd W · Horn Lake, MS 38637 · Auto Parts / Service

Asking price
$1,776,835
Cap rate
5.75%
NOI
$102,168

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Lease

Lease typeNN
Term remaining12.8 yrs
Expiration04/2039
Rent bumps10% Every 5 Years
Options4,5 Year Options
Ground leaseNo
Credit profileCredit Rated
TenancySingle

Planning a 1031 Exchange

Give us your relinquished sale close date and we will calculate your 45-day identification and 180-day closing deadlines, track the clock, and surface matching inventory before it expires. We coordinate directly with your Qualified Intermediary and can introduce one if you have not yet engaged an exchange accommodator. Investment Grade does not provide tax or legal advice.

Property

Building SF7,817
Price / SF$227
Year built2004
Lot size0.94 ac
TypeAuto Shop, Auto Service
Days on market24

Need year-one bonus depreciation

Building age, size and improvement mix drive how much of this asset a cost segregation study can accelerate into year one. Tell us your tax year and entity and we will model the deduction.

Investment highlights

  • ​Early Renewal Execution – AutoZone just exercised its first renewal option despite having 9 years still remaining on the base term, demonstrating strong commitment to this location. The lease now runs through 2039, providing one of the longest remaining terms available for a fee-simple AutoZone property.
  • ​Close to AutoZone HQ - The subject AutoZone is located within a 25-minute drive of AutoZone’s global headquarters in downtown Memphis, placing it squarely within the company’s most closely monitored and strategically important home market. Stores in close proximity to corporate headquarters tend to benefit from stronger oversight, sustained investment, and long-term market commitment, supporting the durability of this location within AutoZone’s broader Memphis-area footprint
  • ​Strong Rent Growth - The renewed lease now includes two 10% rent increases in 2029 and 2034, providing predictable income growth over the remaining term.
  • ​Memphis MSA - Although located just across the Mississippi–Tennessee border, Horn Lake is fully integrated into the Memphis MSA, benefiting from access to a metro population exceeding 600,000 residents.
  • ​Walmart and Kroger Anchored – The trade area is anchored by a Kroger center directly adjacent to the property and a Walmart Supercenter one parcel to the west, driving consistent traffic and daily consumer demand.
  • ​Robust Trade Area - The Horn Lake Rd & Goodman Rd intersection (38,000 VPD) is a proven retail node anchored by Walmart, Kroger, and ALDI, with other national brands including Walgreens, Circle K, Whataburger, Taco Bell, and Tidal Wave Carwash, and recently added Chick-fil-A and Chipotle developments—highlighting strong, ongoing retail demand in the immediate trade area.
  • ​Essential, Recession-Resistant Use – AutoZone serves everyday vehicle repair needs that people can’t put off, even during economic downturns. This makes auto parts retail especially reliable in commuter markets like Horn Lake, where residents depend on their cars for daily life.
  • ​Established Retail Corridor & Strong Area Commercial Base – The property sits on Goodman Road (MS-302), Horn Lake’s main commercial corridor, offering excellent visibility and traffic. The surrounding area features major retailers like Walmart and Sam’s Club, grocery centers, restaurants, auto services, and strong employment driven by the nearby I-55 corridor (63,000 VPD) and the Greater Memphis market.
  • ​Major Capital Improvements Minimize Future Ownership Costs – Two brand-new Carrier HVAC units were installed in early 2026, and the roof was recently upgraded with a new membrane backed by a transferable warranty through November 2038. Together, these improvements address two of the most common landlord capital obligations, helping reduce near-term maintenance exposure and support predictable cash flow throughout AutoZone's remaining lease term.

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Asking-market observation aggregated from public listing sources, last observed Sep 11, 2026. Figures are asking price and asking cap rate as published by the listing party, not a verified closed transaction. Lease terms shown where reported by the listing party and not independently verified. Shown for market reference only; this is not an offering. Investment Grade Income Property, LP represents buyers on a cooperating commission basis.