1275 Blowing Rock Rd
Boone, NC 28607
AutoZone | New 15-Year NN Lease! · Retail Property For Sale

Marcus & Millichap, on behalf of ownership, is pleased to exclusively offer a condominium interest in this AutoZone net lease in Boone, North Carolina, the seat of Watauga County. The Tenant, AutoZone, is subject to a new 15-year lease that features 10% rental increases every five years during the base term and option periods. The Offering was previously owned by Staples before it was demised into two condo units upon Staples downsizing its store. AutoZone is investment grade, rated BBB by Standard & Poor' s, and publicly traded. The Property is exceptionally well-located along Blowing Rock Road within a regional retail cluster that draws from an expansive 15-mile trade radius. AutoZone has been seeking a site in this market for an extended period of time. The closest AutoZone is 24 miles northeast of the Property. The 9,467 square-foot store is positioned on the street side of the former Staples box, which provides excellent exposure to more than 35,000 vehicles per day. The overall parcel has about 300 feet of frontage and a prominent 44 square-foot pylon sign along Blowing Rock Road. AutoZone benefits from its location across from Boone Mall, 223,506 square-feet anchored by Belk, JC Penney, Sears and TJ Maxx. The mall was redeveloped in 2005-2008 has remained at occupancy levels over 90% and attracts esteemed retail brands. Additionally, the Tenant is in proximity to notable big box retailers Walmart and Lowe' s, and two grocery-anchored shopping centers. Without question, the unique topography makes area such a popular tourist attraction also creates tremendous barriers to entry for new development. Boone, North Carolina is the seat of Watauga County and home of Appalachian State University.