O'Reilly Auto Parts

2250 Asheville Highway, Hendersonville, NC 28791

$1,511,500

Cap Rate 6.65%

$1,674,800

Cap Rate 6.00%

DOM: 117 Updated: 07.19.24 Posted: 04.23.24 Status: Sold 08.19.24

Summary

Price $1,511,500 $1,674,800	Built/Renov 2014	Tenant O'Reilly Auto Parts
Cap Rate 6.65% 6.00%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 6,800	Lease Start 04-05-2014	#Units 6,095
Price/SF $222.28 $246.29	Expiration 04-04-2034	Tenant Type Automotive
NOI $100,488	R. Term 8.11	Ownership Fee Simple
Rent/SF $14.78	Increases 6.0%/1/yrs	Pop 5Mi 59,863
Lot/AC 0.87	Options 3/5yrs/6%	AHHI 5Mi $82,344

Robby Pfeiffer

Marcus & Millichap

Contact

Lease Highlights

O'Reilly Auto Parts has 9+ years remaining on the current lease term with 3 (5-year) options to extend
The lease features 6% rental escalations throughout the initial term and option periods
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guarantee | Investment grade tenant

Location Description

O'Reilly Auto Parts strategically located on Asheville Highway, with access to 24,000 vehicles passing by daily. The property is surrounded by well-known national tenants including Advanced Auto Parts, Starbucks, Tractor Supply Co, Aldi, Panera, and more. Additionally, in the vicinity are Hendersonville High School, Oklawaha Village Apartments, Signal Ridge Apartments, and Pardee Hospital. The...

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Key Features

Build to suit
In location for years
Near major nationals
Strategically located
Freeway close
Major MSA
Favorable NN+ lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

O'Reilly Auto Parts Wikipedia O'Reilly Auto Parts Wikipedia Hendersonville, North Carolina Zip Code 28791 Broker Site Page

Maps

Local Information

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 :	4,537	31,678	60,161
2023 Total Population :	4,477	31,615	59,921
2023 Employed Civilian Pop :	1,983	14,306	27,111
2023 Total Businesses :	195	2,180	3,082
2023 Average Household Income :	$ 90,821	$ 82,866	$ 87,399
2023 Total Consumer Spending :	$ 164 M	$ 1033 M	$ 2012 M
2023 Median Age :	55	52	51
2023 Total Households :	2,082	14,321	26,448
2023 Pop Age 25+: Bachelor's Degree :	1,018	5,755	10,543
2023 Average Home Value :	$ 340,908	$ 337,305	$ 366,469

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Greater Druid Hills Boulevard	Rolfe St	2022	508	0.09 mi
Asheville Highway	Merriman Rd	2022	26,165	0.17 mi
	Kingsbury Rd	2022	5,800	0.20 mi
Stoney Mountain Rd	Kingsbury Rd	2008	5,400	0.20 mi
Asheville Highway	Dixon Dr	2022	26,498	0.25 mi
Dixon Drive	S Stoney View Ct	2022	485	0.27 mi
Berkeley Road	Asheville Hwy	2022	10,211	0.31 mi
Asheville Highway	Chelsea St	2022	24,283	0.37 mi
Halsbury Avenue	Asheville Hwy	2022	382	0.39 mi
Asheville Highway	Halsbury Ave	2022	26,125	0.42 mi

Listing Broker

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