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DOM: 155 Updated: 06.06.23 Posted: 01.17.23 Status: Sold 06.22.23

Summary

Price $2,964,000
Built/Renov 1999
Tenant O'Reilly Auto Parts
Cap Rate 6.00%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 8,100
Lease Start 11-01-1999
#Units 5,971
Price/SF $365.93
Expiration 06-30-2032
Tenant Type Automotive
NOI $177,833
R. Term 7.2
Ownership Fee Simple
Rent/SF $21.95
Increases 6.0%/9/yrs
Pop 5Mi 26,391
Lot/AC 0.89
Options 4/5yrs/6%
AHHI 5Mi $134,794

Lease Highlights

  • O’Reilly Auto Parts has been operating in this location since 1999
  • The tenant has over 9 years remaining on its current lease term with 4 (5-year) options to extend
  • The lease features 6% rental increases at the beginning of each option period
  • Favorable NN+ with limited landlord responsibilities
  • Corporate signed by O’Reilly Auto Enterprises, LLC, a subsidiary of O’Reilly Automotive, Inc. (NASDAQ: ORLY | S&P: BBB)

Location Description

The subject property is strategically located near the signalized, hard-corner intersection of Old Glenn Hwy. and N. Eagle River Loop Rd., which averages a combined 31,300 vehicles passing by daily. The site benefits from excellent visibility via significant street frontage and a large pylon sign along Old Glenn Highway. In addition, the asset is centrally located in the heart of Eagle River’s...

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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 Auto Enterprises, LLC
  • # 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 : 8,260 22,450 25,662
2023 Total Population : 8,347 22,934 26,225
2023 Employed Civilian Pop : 3,967 11,516 13,353
2023 Total Businesses : 548 790 885
2023 Average Household Income : $ 117,727 $ 141,862 $ 142,241
2023 Total Consumer Spending : $ 335 M $ 999 M $ 1142 M
2023 Median Age : 35 36 37
2023 Total Households : 3,337 8,317 9,475
2023 Pop Age 25+: Bachelor's Degree : 1,579 4,827 5,423
2023 Average Home Value : $ 426,159 $ 443,586 $ 448,911
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Old Glenn Hwy Business Blvd 2000 15,860 0.07 mi
N Eagle River Loop Rd Horseshoe Dr 2000 5,179 0.11 mi
Business Blvd Old Glenn Hwy 2000 8,877 0.12 mi
Old Glenn Hwy Business Blvd 2000 18,848 0.16 mi
N Eagle River Loop Rd Lazy St 2006 12,476 0.19 mi
Old Glenn - Btwn Schroeder and Juanita (Passive ATR - Active)(CBA1 Box on NB side) Miss Cir 2021 17,200 0.23 mi
Old Glenn - Btwn Easy and Hanson (Passive ATR - Active)(CBA1 box on NB side) Hanson Dr 2021 13,000 0.26 mi
Farm Avenue End St 2019 1,274 0.27 mi
Old Glenn Highway Old Glenn Hwy 2019 17,171 0.28 mi
Farm Avenue Winter PkPl 2021 900 0.32 mi

Listing Broker

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