AutoZone

Early Renewal Execution – AutoZone just exercised its first renewal option despite having 9 years still remaining on the base term, demonstrating strong commitment to this location. The lease now runs through 2039, providing one of the longest remaining terms available for a fee-simple AutoZone property.
Close to AutoZone HQ – The subject AutoZone is located within a 25-minute drive of AutoZone’s global headquarters in downtown Memphis, placing it squarely within the company’s most closely monitored and strategically important home market. Stores in close proximity to corporate headquarters tend to benefit from stronger oversight, sustained investment, and long-term market commitment, supporting the durability of this location within AutoZone’s broader Memphis-area footprint
Strong Rent Growth – The renewed lease now includes two 10% rent increases in 2029 and 2034, providing predictable income growth over the remaining term.
Memphis MSA – Although located just across the Mississippi–Tennessee border, Horn Lake is fully integrated into the Memphis MSA, benefiting from access to a metro population exceeding 600,000 residents.
Walmart and Kroger Anchored – The trade area is anchored by a Kroger center directly adjacent to the property and a Walmart Supercenter one parcel to the west, driving consistent traffic and daily consumer demand.
Robust Trade Area – The Horn Lake Rd & Goodman Rd intersection (38,000 VPD) is a proven retail node anchored by Walmart, Kroger, and ALDI, with other national brands including Walgreens, Circle K, Whataburger, Taco Bell, and Tidal Wave Carwash, and recently added Chick-fil-A and Chipotle developments—highlighting strong, ongoing retail demand in the immediate trade area.
Essential, Recession-Resistant Use – AutoZone serves everyday vehicle repair needs that people can’t put off, even during economic downturns. This makes auto parts retail especially reliable in commuter markets like Horn Lake, where residents depend on their cars for daily life.
Established Retail Corridor & Strong Area Commercial Base – The property sits on Goodman Road (MS-302), Horn Lake’s main commercial corridor, offering excellent visibility and traffic. The surrounding area features major retailers like Walmart and Sam’s Club, grocery centers, restaurants, auto services, and strong employment driven by the nearby I-55 corridor (63,000 VPD) and the Greater Memphis market.

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Phillip Carpenter