AutoZone | Sparta, TN

AUTOZONE

215 W. BOCKMAN WAY, SPARTA, TN 38583

AUTOZONE

marketing package TABLE OF CONTENTS 03 Investment Summary 04 Lease Summary 05 Rent Schedule 06 Aerial 07 Site Plan 08 About the Brand 09 Location Overview CONTACT INFORMATION

tony anderson Director (424) 325-2615

dorothy lee Associate (424) 403-2684

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215 W. BOCKMAN WAY, SPARTA, TN 38583

AUTOZONE

INVESTMENT SUMMARY Tenant Street Address City State Zip GLA Lot Size Year Built

AutoZone 215 W. Bockman Way Sparta TN 38583 6,802 SF

$

$381,927 LIST PRICE

% 4.75% CAP RATE $

$18,142

NET OPERATING INCOME

1.12 AC 1964

Zero Landlord Responsibilities This lease features an Absolute Net (NNN) Lease, which means that there are no landlord responsibilities.

Corporately Guaranteed Lease by Investment Grade Tenant Corporately guaranteed lease by an investment grade credit tenant, BBB rating from Standard & Poor’s.

AutoZone’s stock is at its highest its ever been, rising roughly 40% in the last 12 months.

No Income Tax State Tennessee is one of the several states with no state income tax. Investors that live in non-income tax states can benefit from higher post-tax dollars.

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215 W. BOCKMAN WAY, SPARTA, TN 38583

AUTOZONE

LEASE SUMMARY Lease Type Type of Ownership

Absolute-Net (NNN)

30 Days

Real Estate Taxes

Tenant Responsible

Insurance

Tenant Responsible

03/07/1995

Roof & Structure

Tenant Responsible

Lease Expiration

09/30/2025

Lease Guarantor

Corporate

Term Remaining

5+ Years

Company Name

AutoZone

Original Lease Term Commencement Date

Increases Options

Ground Lease

ROFR

5 Years

17.5% in Each Option Two (2), 5-Year

Ownership

Public

Number of Locations

6,484

Recession Proof Business As used vehicles continue the trajectory of high demand and the average age of cars on the road continues to rise, this pushes demand for maintenance higher. AutoZone continues to expand during recessions, further rallying revenues for the company.

Long-Term Tenancy AutoZone has been at this location since 1995 with more than 20+ years of commitment to the site.

Bite-Sized Deal Low price point asset that recently demonstrated commitment to the site by exercising their 5-year option.

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215 W. BOCKMAN WAY, SPARTA, TN 38583

AUTOZONE

RENT SCHEDULE Period

Term

Annual Rent

Monthly Rent

Increase

CAP Rate

10/01/2020 - 09/302025

Current

$18,141.55

$1,511.80

-

4.75%

10/01/2025 - 09/30/2030

6th Option

$21,316.32

$1,776.36

17.5%

5.58%

10/01/2030 - 09/30/2035

7th Option

$25,046.68

$2,087.22

17.5%

6.56%

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215 W. BOCKMAN WAY, SPARTA, TN 38583

AUTOZONE

RETAIL AERIAL

06

215 W. BOCKMAN WAY, SPARTA, TN 38583

AUTOZONE

SITE PLAN

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215 W. BOCKMAN WAY, SPARTA, TN 38583

AUTOZONE

ABOUT THE BRAND AutoZone Since 1979, AutoZone has been committed to providing the best parts, prices and customer service in the automotive after market industry. Today, AutoZone is the leading retailer and a leading distributor of automotive replacement parts and accessories in the U.S. The company sells auto and light truck parts and accessories through AutoZone stores in all 50 U.S. states, plus the District of Columbia, Puerto Rico, Mexico and Brazil.

6,484

NUMBER OF LOCATIONS

BBB

CREDIT RATING

87,000+ EMPLOYEES

50 States

GEOGRAPHICAL FOOTPRINT

The Company has 5,836 stores in the U.S., 610 stores in Mexico and 38 stores in Brazil for a total store count of 6,484. Each AutoZone store carries an extensive product line for cars, sport utility vehicles, vans and light trucks, including new and re-manufactured automotive hard parts, maintenance items and accessories. Beyond the vast product offerings, AutoZone provides many services free of charge, including battery testing and charging, diagnostic testing and more. Many stores also have a commercial sales program that provides commercial credit and prompt delivery of parts and other products to local, regional and national repair garages, dealers, service stations, and public sector accounts.

AutoZone Increases Hiring Efforts, Plans To Add 20,000 New Jobs AutoZone plans to hire more than 20,000 new AutoZoners (employees) nationwide to meet the growing demands of its Retail and Commercial customers at its more than 5,800 stores throughout the U.S. New job opportunities include Delivery Drivers, Parts Sales Managers and Full and Part-Time Sales Associates.

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215 W. BOCKMAN WAY, SPARTA, TN 38583

AUTOZONE

LOCATION OVERVIEW Sparta, TN Sparta is a city in White County, Tennessee, United States & is the county seat of White County. The population within a 5-mile radius was over 11,000+ people in the 2019 census. Sparta is located approximately fifteen miles south of Cookeville. The city is situated on the Highland Rim, near the base of the western escapement of the Cumberland Plateau. The Calfkiller River traverses Sparta north-to-south en route to its confluence with the Caney Fork several miles to the south. Sparta is centered just east of the junction of U.S. Route 70, which connects Sparta with Knoxville to the east and Nashville to the west, and State Route 111, which connects Sparta with Kentucky to the north and Chattanooga to the south.

Come see rural life at its finest amid the gorgeous, rolling hills of White County and Sparta, TN. From rambling farms that hearken back to a simpler time, to a musical heritage that has brought the area renown as one of the nation’s top resonators of the bluegrass roots movement, White County and Sparta, TN, have become a haven for history buffs, music fans and nature lovers alike.

Deep roots in music, deep gorges and a deep love for nature all fuel a small-town vibe in Sparta unlike any other you’ll find in Tennessee. It’s a town countless people have passed through over the years, and now more than ever there are plenty of reasons to stop and stay awhile.

Historic Liberty Square in Downtown Sparta Quaint historic buildings and homes, along with many shops and restaurants, art galleries and windows full of antiques make this courthouse square a must-see on the trail. It’s the perfect mix of hometown flavor and days gone by.

Burgess Falls State Park Less than 12 miles away from the subject property sits Burgess Falls State Park, a historic state park that contains 4 breathtaking waterfalls as well as fishing and picnic areas. Also included is a round trip, moderately strenuous hike of about a mile and a half, and a butterfly garden very close by.

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215 W. BOCKMAN WAY, SPARTA, TN 38583

AUTOZONE

DEMOGRAPHICS POPULATION

10

1-Mile

3-Mile

5-Mile

2025 Projection

3,531

8,685

12,394

2020 Estimate

3,423

8,409

11,990

2010 Census

3,362

8,197

11,633

Growth ‘20 - ‘25

3.16%

3.28%

3.37%

Growth ‘10 - ‘20

1.81%

2.59%

3.07%

HOUSEHOLDS

1-Mile

3-Mile

5-Mile

2025 Projection

1,408

3,461

4,927

2020 Estimate

1,367

3,356

4,772

2010 Census

1,343

3,277

4,638

Growth ‘20 - ‘25

3.00%

3.13%

3.25%

Growth ‘10 - ‘20

1.79%

2.41%

2.89%

Average Income

$45,429

$48,359

$49,811

Median Income

$34,547

$38,115

$39,062

215 W. BOCKMAN WAY, SPARTA, TN 38583

AUTOZONE

DISCLAIMER The information contained in this Marketing Brochure has been obtained from sources believed to be reliable, but the accuracy or completeness of the information contained therein cannot be guaranteed. James Capital Advisors, Inc. & Kevin Fulton (“Broker”) has not, and will not, verify any of this information, nor has Broker conducted, nor will it conduct, any investigation regarding these matters. Broker makes no representations, guarantees, or warranties of any nature about the accuracy or completeness of any information provided. The information provided in this brochure is in no way a substitute for a thorough due diligence investigation by Buyer. Broker has made no investigation of, and has made no representations, guarantees, or warranties of any nature, with regard to income and expenses for this property nor the future financial performance of the property. In addition, Broker has made no investigation of, and has made no representations, guarantees, or warranties as to the size and square footage of the property, the presence of any contaminating substances at the property, the physical condition of the property or compliance with any State, Local or Federal regulations. In addition, Broker has made no investigation of, and has made no representations, guarantees, or warranties of any nature, with regard to the financial condition or future financial condition of any tenants, nor any future plans or intentions of tenants with regard to the continued occupancy of the property. All parties are aware that Broker has no affirmative obligation to conduct a due diligence examination of the property for any Buyer. Any and all projections or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. Therefore, Broker assumes no legal responsibility for accuracy or completeness of this information, and expressly disclaims all representations, guarantees, or warranties related thereto.

The value of the property to any Buyer depends on numerous factors that must be evaluated by Buyer and Buyer’s legal, tax, construction, and financial advisors. Buyer and Buyer’s advisors should conduct a thorough, independent investigation of the property to determine its suitability for Buyer’s intended usage. This investment, as with all real estate investments, carries a substantial risk. As such, Buyer and Buyer’s legal and financial advisors are strongly advised to request and review all legal and financial documentations related to the property and tenants.

A tenant’s past performance is not a guarantee of future performance. The lease rate stated for some properties may be based on a tenant’s projected sales with little or no record of actual performance or comparable rents for the area in question. Returns are in no way guaranteed. Tenants may fail to pay the rent or property taxes or any other tenant obligations under the terms of the lease or may default under the terms of such lease. Regardless of tenant’s history of performance, and/or any lease guarantors and/or guarantees, Buyer is responsible for conducting Buyer’s own investigation of all matters related to any and all tenants and lease agreements. Broker is not, in any way, responsible for the performance of any tenant or for any breach or default by any tenant of any terms of any lease agreement related to the property.

Further, Buyer is responsible for conducting Buyer’s own independent investigation of all matters related to the value of the property, including, but not limited to, the value of any long-term leases. Buyer must carefully evaluate the possibility of tenants vacating the property or breaching their leases and the likelihood and financial impact of being required to find a replacement tenant if the current tenant should default and/or abandon the property. Buyer must also evaluate Buyer’s legal ability to make alternate use of the property in the event of a tenant abandonment of the property.

CONFIDENTIALITY This Marketing Brochure and the information contained within, is propriety and strictly confidential. It is intended to be used only by the party receiving it from Broker. It should not be made available to any other person or entity without the express written consent of Broker.

RELEASE This Marketing Brochure has been prepared to provide basic, unverified information for prospective purchasers. By accepting this Marketing Brochure, the recipient agrees to release and hold harmless Broker from any claim, demand, liability or loss arising out, or relating in any way, to the information contained in this Marketing Brochure and from Buyer’s investigation of the property. In no event shall James Capital Advisors, Inc. or Broker be liable to any party for any direct, indirect, special, incidental, or consequential damages of any kind whatsoever arising out of the use of this Marketing Brochure or any information contained herein.

NON-ENDORSEMENT Broker is not affiliated with, endorsed by or sponsored in any way by any tenant or lessee identified in this Marketing Brochure. The presence of any entity’s logo or name is not intended in any way to indicate affiliation, sponsorship or endorsement by said entity of Broker.

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www.jamescapitaladvisors.com

@jamescapitaladvisors

AUTOZONE

CONTACT INFORMATION CONTACT

tony anderson

Director (424) 325-2615 tony@jamescapitaladvisors.com CA RE Lic. 01936642

dorothy lee

Associate (424) 403-2684 dorothy.lee@jamescapitaladvisors.com CA RE Lic. 01982397 BROKER OF RECORD

Kevin Fulton

Market Retail Partners (615) 345-4455 kfulton@marketretailpartners.com TN RE Lic #: 313966 CORP. Lic #: 262103

James Capital Advisors, Inc.

www.jamescapitaladvisors.com

@jamescapitaladvisors