Current Use by Public Records
- AutoZone Auto Parts / Auto Parts Store
Property Details for 529 Avenue
- Year built
- 2005
- Lot size
- 0.65 lot acres
- Property type
- Retail properties & Spaces
- 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.
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
- San Angelo
- County
- Tom Green
- State
- Texas
- Longitude
- -100.444
- Latitude
- 31.4425
