Current Use by Public Records
- Retail properties & Spaces
Property Details for 17481 Tn-58
- Year built
- 2007
- Property type
- Retail properties & Spaces
- Property subtype
- Auto shops
Description
This exceptional investment opportunity presents a 6,786 square foot AutoZone retail property located at 17481 TN-58, Decatur, TN 37322. The property sits on a 49,222 square foot lot and boasts a strong 5.75% cap rate, generating a net operating income (NOI) of $97,044. The current lease with AutoZone, a national retailer with over 6,400 locations and $17.5 billion in revenue, commenced August 1, 2007, and extends until July 31, 2039, offering a substantial remaining lease term of approximately 14.7 years. The lease includes annual rent bumps of 1.5%, providing consistent income growth. Three 5-year lease options further enhance the long-term value. The property benefits from its strategic location along State Highway 58 North, near Highway 30, experiencing high daily traffic counts averaging 7,246 vehicles. This prime location is surrounded by other established retailers, including Dollar Tree, Piggly Wiggly, McDonald's, Hardee's, Dollar General, and Subway. Decatur, the county seat of Meigs County, Tennessee, offers a favorable business environment, including no state income tax. The area demonstrates strong demographics, with an average household income of $72,664 and a population of 5,302 within a 5-mile radius. The property's proximity to Chattanooga (52 miles) and Knoxville (66 miles) adds to its appeal. This is a rare opportunity to acquire a stable, high-performing net lease investment in a desirable location. The asking price is $1,687,721.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Decatur
- County
- Meigs
- State
- Tennessee
- Longitude
- -84.7904
- Latitude
- 35.5185
