New Location Prominently Located at the Entrance to EastGate Mall
Matthews™ is pleased to offer the opportunity to acquire a 42,123 SF AutoZone Flagship Store — strategically located at the entrance to EastGate Mall in Cincinnati, OH.
Six reasons this offering stands apart in today's net-lease market — credit, criticality, and location working in concert.
The lease is corporately guaranteed by AutoZone, Inc., which has an investment grade credit rating by all three major credit rating agencies — Baa1/Stable (Moody's), BBB/Stable (S&P), and BBB/Stable (Fitch). AutoZone trades on the NYSE ('AZO') with a market cap of $51.149B.
AutoZone's flagship stores are supersized retail locations carrying over 100,000 unique parts. While a standard AutoZone stocks approximately 21,000 parts, hub stores supply surrounding satellite locations and deliver hard-to-find components directly to professional mechanics and customers in 30 minutes or less.
The subject property is strategically located within the EastGate submarket characterized by a population of 108K within 5 miles, and an average household income of more than $115k.
AutoZone signed a 15-year lease with five, 5-year renewal options and rent escalations every five years. The landlord's responsibilities are limited to roof, structure, and parking lot replacement — no recurring obligations. A new roof is being installed by AutoZone (in 2026).
Located at the entrance to the 1M SF EastGate Mall, the property benefits from excellent visibility, multiple access points, and a dominant retail corridor anchored by Kroger, Meijer, Walmart, Sam's Club, and Dick's Sporting Goods. The area is further strengthened by Cincinnati Children's new 110K SF medical campus, opened in 2025 and just 1.5 miles south of the property.
Cincinnati is a nationally recognized business hub anchored by Fortune 500 companies, world-class healthcare systems, and leading universities. Top employers include Cincinnati Children's Hospital, Procter & Gamble, Cintas, Western & Southern Financial Group, and First Financial Bank, supporting a strong and diverse regional economy.
The EastGate AutoZone Flagship serves as a critical parts distribution center for the Greater Cincinnati market, supporting surrounding AutoZone locations with rapid inventory replenishment and access to more than 100,000 unique automotive parts. Its strategic location within one of Cincinnati's premier retail corridors allows the store to efficiently serve both commercial repair shops and retail customers throughout the region.
| Period | Years | Annual Rent | PSF |
|---|---|---|---|
| Initial Term | 1–5 | $484,414 | $11.50 |
| Initial Term | 6–10 | $505,476 | $12.00 |
| Initial Term | 11–15 | $526,537 | $12.50 |
| Option 1 | 16–20 | $579,191 | $13.75 |
| Option 2 | 21–25 | $637,320 | $15.13 |
| Option 3 | 26–30 | $700,926 | $16.64 |
| Option 4 | 31–35 | $770,850 | $18.30 |
| Option 5 | 36–40 | $847,935 | $20.13 |
Passive, corporately-guaranteed lease — landlord responsibilities limited to roof, structure, and parking lot replacement.
AutoZone is the nation's largest retailer and distributor of aftermarket automotive replacement parts and accessories, backed by a disciplined, investment-grade balance sheet and decades of consistent cash flow generation.
Qualified investors are invited to connect with the exclusive listing team to receive the complete offering package.
Exclusively Listed By Matthews™. Broker of Record: Matthew Wallace.
