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3770 Goodman Rd W 7,817 SF Retail Building Horn Lake, MS 38637 $2,490,430 CAD ($318.59 CAD/SF) 5.75% Cap Rate
Investment Highlights
- Early Renewal Execution – AutoZone just exercised its first renewal option despite having 9 years still remaining on the base term
- Strong Rent Growth – The renewed lease now includes two 10% rent increases in 2029 and 2034, providing predictable income growth
- Walmart and Kroger Anchored – The trade area is anchored by a Kroger center directly adjacent to the property and a Walmart Supercenter
- Close to AutoZone HQ – The subject AutoZone is located within a 25-minute drive of AutoZone’s global headquarters in downtown Memphis
- Memphis MSA – Although located just across the Mississippi–Tennessee border, Horn Lake is fully integrated into the Memphis MSA
- Robust Trade Area – The Horn Lake Rd & Goodman Rd intersection (38,000 VPD) is a proven retail node anchored by Walmart, Kroger, and ALDI
Executive Summary
Phillip Carpenter
License # C-11708 (MS)
Carpenter Properties, Inc.
1437 Old Square Road, Suite 104 Jackson, MS 39211
(866) 889-0550
Property Facts
Amenities
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- -
- $16.32 CAD
- Double Net
- Apr 2024
AutoZone began in 1979 as a single store in Forrest City, Arkansas, after starting as a division of Malone & Hyde and later becoming a separate company. The business changed its name from Auto Shack to AutoZone and built its core around automotive replacement parts and accessories for cars, sport utility vehicles, vans, and light trucks. AutoZone operates as a retailer and distributor across the Americas, serving customers through stores, commercial programs, a website, and a mobile app. The company sells automotive diagnostic software through ALLDATA, offers Duralast branded products, and provides services such as battery testing, charging, diagnostic testing, and Loan-A-Tool, while not deriving revenue from automotive repair or installation.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | - | $16.32 CAD | Double Net | Apr 2024 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 1088283000001200 | Improvements Assessment | $109,102 CAD |
| Land Assessment | $60,540 CAD | Total Assessment | $169,641 CAD |
Property Taxes
Contacts
-
Conrad Sarreal -
Kevin Puder -
Chad Kurz -
Matthews Real Estate Investment Services
Presented by
3770 Goodman Rd W
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