CAP Rate: 5.50%
Net Operating Income: $76,008
Lot Size: 0.59 AC
The subject property is a 5,320 square foot, single-tenant AutoZone located in Little Rock, AR. AutoZone has a newly executed 11 year lease extension - no rent reduction given to secure lease extension proving AutoZone’s commitment to the location. The property is wholly leased to AutoZone under a net lease. Landlord responsibilities limited to roof and structure. The tenant has six, 5-year options to renew beyond the initial term with 9% rental increases with each. The site is ideally located on a major commercial thoroughfare and surrounded by major retailers including Kroger, Taco Bell, Arby’s, Dollar General, McDonald’s, and many more. The site benefits from its position on Rodney Parham Road; a five lane corridor stretching from west Little Rock, across Interstate 430, to Little Rock’s midtown.
Little Rock is the capital and most populous city of the U.S. state of Arkansas. The city’s population was 198,541 in 2016 according to the United States Census Bureau.
The city is the headquarters of Dillard’s, Windstream Communications, Acxiom, Stephens Inc., University of Arkansas for Medical Sciences, Heifer International, Winrock International, the Clinton Foundation, the Rose Law Firm, and Arkansas Blue Cross and Blue Shield. Other corporations, such as Dassault Falcon Jet, LM Wind Power, Simmons Bank, Euronet Worldwide, AT&T, and Entergy have large operations in the city. State government is a large employer, with many offices downtown. Two major Interstate highways, Interstate 30 and Interstate 40, meet in Little Rock, with the Port of Little Rock serving as a shipping hub.