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Views: 61 DOM: 191 Updated: 05.10.24 Posted: 11.08.23 Status: Active

Summary

Price $1,489,440
Built/Renov 2022
Tenant O'Reilly Auto Parts
Cap Rate 6.25%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 7,000
Lease Start 11-01-2022
#Units 5,971
Price/SF $212.78
Expiration 10-31-2037
Tenant Type Automotive
NOI $93,090
R. Term 13.5
Ownership Fee Simple
Rent/SF $13.30
Increases 6.0%/9/yrs
Pop 5Mi 6,681
Lot/AC 1.68
Options 4/5yrs/6%
AHHI 5Mi $56,712

Lease Highlights

  • New 2022 construction
  • O’Reilly Auto Parts has 13+ years of primary term remaining with 4 (5-year) renewal options
  • The lease features a 6% rent increase in November 2032 and in each option period
  • Corporate guaranteed lease (NASDAQ: ORLY)
  • Investment grade tenant (S&P: BBB)

Location Description

O’Reilly Auto Parts is strategically located with excellent visibility along Travis Avenue, with access to 6,100 vehicles passing by daily. The property is conveniently just feet from its signalized intersection with North Jennings Street (5,000 VPD). Additionally, it is also the only store for 16 miles. The site is immediately adjacent to The Hardware Store and Star Motors II and is across...

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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:5,971
  • 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 : 3,181 4,396 6,505
2023 Total Population : 3,225 4,452 6,608
2023 Employed Civilian Pop : 1,149 1,569 2,392
2023 Total Businesses : 192 226 252
2023 Average Household Income : $ 54,087 $ 55,784 $ 56,901
2023 Total Consumer Spending : $ 58 M $ 81 M $ 126 M
2023 Median Age : 37 37 37
2023 Total Households : 1,207 1,620 2,485
2023 Pop Age 25+: Bachelor's Degree : 311 462 637
2023 Average Home Value : $ 150,361 $ 155,932 $ 153,174
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Travis Avenue Travis Ave 2022 6,100 0.07 mi
West Butler Avenue State Rd S-41-199 2022 800 0.15 mi
Greenwood Highway N Main St 2022 6,400 0.15 mi
North Jennings Street E Butler Ave 2022 5,000 0.16 mi
East Highland Street N Jennings St 2022 750 0.22 mi
North Calhoun Street Matthews Dr 2022 225 0.22 mi
North Main Street W Church St 2021 6,600 0.23 mi
North Main Street Sunset St 2022 6,700 0.23 mi
South Jefferson Street W Eutaw St 2022 1,900 0.32 mi
Waters Avenue Bowie St 2022 900 0.39 mi

Listing Broker

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