529 Avenue San Angelo, TX 76903

Property Details for 529 Avenue

Year built

2005

Lot size

0.65 lot acres

Property size

6,446 SF

Property type

Retail properties

Property subtype

Freestanding property

Description

This exceptional investment opportunity presents a freestanding AutoZone retail building in San Angelo, Texas. The 6,446 square foot property, built in 2005, sits on a 0.65-acre lot at 529 W Ave N, a high-traffic location with over 10,000 vehicles passing daily. Its strategic position near a major intersection provides additional visibility to 25,000 more vehicles. The property benefits from its proximity to complementary businesses including other auto parts stores, fast food restaurants, and a hotel, as well as Angelo State University, a significant population center with over 11,000 students and faculty. This prime location is within a mixed commercial and residential area, bridging downtown and major shopping areas. The strong tenant, AutoZone, is a leader in the auto parts resale industry, providing an investment-grade credit tenant in an essential business sector. The property boasts a 5.75% cap rate with a current NOI of $71,500. The 20-year Net Net lease commenced August 24, 2005, and has approximately 0.8 years remaining. The asking price is $1,243,000, translating to a price per square foot of $192.83. The surrounding area boasts a diverse workforce and a population of approximately 100,000 within a 5-mile radius, with an average annual household income of about $73,184. This low-maintenance property offers a compelling investment with strong potential for long-term returns. The property's location in San Angelo, a city of over 100,000, further enhances its investment appeal.

Location Insight

City

San Angelo

County

Tom Green

State

Texas

Longitude

-100.444

Latitude

31.4425