Cap Rate: 4.50%
Net Operating Income: $51,000
Square Footage: 8,160
The subject property is a single-tenant AutoZone located in Kingston, TN. AutoZone has a long term net lease. The lease calls for minimal landlord obligations and six, 5-year options to renew.
The subject property is situated on a major commercial thoroughfare seeing 14,000+ VPD along N Kentucky Street. The property is near multiple national retailers including Taco Bell, McDonald’s, Hardee’s, Dollar General and more.
Kingston is a city in and the county seat of Roane County, Tennessee, United States. This city is thirty-six miles southwest of Knoxville. It had a population of 5,934 at the 2010 United States census, and is included in the Harriman Micropolitan Statistical Area. Kingston is adjacent to Watts Bar Lake.
Kingston is located near the junction of U.S. Route 70, which connects Kingston with Knoxville to the east and Nashville to the west, and State Route 58, which connects Kingston with Oak Ridge to the northeast and Chattanooga to the south. Interstate 40 passes through Kingston, running roughly parallel to U.S. 70.