Cap Rate: 3.75%
Net Operating Income: $62,124
Lot Size: 0.99 AC
The subject property is a rare 8,229 square foot, single-tenant AutoZone ‘Hub Store’ located in Jackson, MS. AutoZone recently executed an absolute NNN Ground lease. The lease calls for zero landlord obligations and four, 5-year options to renew with 7% increases starting at Option 2. In addition, to the property being expanded two times by AutoZone in 2003 and again in 2011, AutoZone executed a new long term lease extension proving its commitment to the location.
The site is ideally located in the State Capitol near Jackson State University. This AutoZone is located on a major commercial thoroughfare and surrounded by major retailers including McDonald’s,Burger King, Wendy’s, Popeye’s, Taco Bell and more.
Jackson, officially the City of Jackson, is the capital and most populous city of the U.S. state of Mississippi. It is one of two county seats of Hinds County, along with Raymond, Mississippi. The city of Jackson also includes around 3,000 acres comprising Jackson-Medgar Evers International Airport in Rankin County and a small portion of Madison County. The city’s population was estimated to be 160,628 in 2019.
Jackson is the capital city of Mississippi. The statewide Mississippi Freedom Trail runs through the city, encompassing a number of historic sites that were significant in the civil rights movement. These include the Medgar Evers Home Museum and the landmark Mississippi State Capitol building. In leafy LeFleur’s Bluff State Park, the Mississippi Museum of Natural Science includes an aquarium and nature trails.