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Views: 22 DOM: 27 Updated: 04.20.24 Posted: 04.20.24 Status: Active

Summary

Price $2,726,100
Built/Renov 2023
Tenant O'Reilly Auto Parts
Cap Rate 5.50%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 7,150
Lease Start 07-01-2023
#Units 6,095
Price/SF $381.27
Expiration 06-30-2038
Tenant Type Automotive
NOI $149,936
R. Term 14.1
Ownership Fee Simple
Rent/SF $20.97
Increases 6.0%/9/yrs
Pop 5Mi 60,354
Lot/AC 0.69
Options 4/5yrs/6%
AHHI 5Mi $82,210

Lease Highlights

  • Brand new 2023 construction
  • O'Reilly Auto Parts has 14 years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 6% rental escalations throughout the initial term starting year 6 and each option period
  • Corporate guarantee | Investment grade tenant

Location Description

O'Reilly Auto Parts is strategically located on South Burlington Boulevard, with access to 24,100 vehicles passing by daily. The property is surrounded by well-known national tenants, including Target, T.J. Maxx, Fred Meyer, Costco, Best Buy, Ross, Home Depot, and more. Additionally, it is conveniently located 0.5 miles from Cascade Mall, 1 mile from Interstate 5 & State Route 20, 1.5 miles...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: O'Reilly Auto Parts
  • Guarantor:Corp T and Rated
  • Company:O’Reilly Automotive, Inc.
  • # Units:6,095
  • Tenant S&P: BBB
  • Moody’s: Baa1
  • Stock: NASDAQ: ORLY

About Tenant

O’Reilly Auto Parts is one of the largest specialty retailers of automotive aftermarket parts in the U.S. Their stores provide automotive aftermarket parts, tools, supplies, equipment, and...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 7,520 34,464 63,130
2023 Total Population : 7,376 33,827 61,762
2023 Employed Civilian Pop : 3,138 14,543 26,878
2023 Total Businesses : 629 1,793 2,766
2023 Average Household Income : $ 74,012 $ 86,984 $ 96,793
2023 Total Consumer Spending : $ 176 M $ 941 M $ 1916 M
2023 Median Age : 34 35 37
2023 Total Households : 2,755 12,463 22,892
2023 Pop Age 25+: Bachelor's Degree : 821 3,614 7,004
2023 Average Home Value : $ 442,621 $ 439,469 $ 462,817
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
S Burlington Blvd Cascade Mall Dr 2009 24,812 0.04 mi
E Gilkey Rd S Walnut St 2008 6,437 0.09 mi
I- 5 Avon Cutoff 2018 76,000 0.29 mi
Goldenrod Rd Stevens Rd 2009 4,338 0.32 mi
I 5 George Hopper Rd 2021 68,227 0.40 mi
Pease Rd S Burlington Blvd 2009 4,210 0.43 mi
Goldenrod Rd Andis Rd 2008 3,908 0.44 mi
2017 5,000 0.45 mi
S Burlington Blvd Pease Rd 2009 32,693 0.47 mi
Avon Cutoff 2019 12,000 0.47 mi

Listing Broker

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