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Views: 62 Updated: 10.31.23 Posted: 10.31.23 Status: Inactive

Summary

Price $2,381,523
Built/Renov 2022
Tenant O'Reilly Auto Parts
Cap Rate 5.45%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 7,225
Lease Start 01-15-2023
#Units 5,971
Price/SF $329.62
Expiration 01-31-2038
Tenant Type Automotive
NOI $129,793
R. Term 13.1
Ownership Fee Simple
Rent/SF $17.96
Increases 6.0%/11/yrs
Pop 5Mi 169,934
Lot/AC 1.16
Options 4/5yrs/6%
AHHI 5Mi $86,861

Lease Highlights

  • Brand new build-to-suit O'Reilly Auto Parts | 2022 construction
  • Tenant recently signed a new 15-year lease with 4 (5-year) options to extend
  • The lease features a 6% rental increase in Year 11 and at each option
  • Corporate guaranteed lease
  • Investment grade tenant (S&P: BBB)

Location Description

O’Reilly Auto Parts enjoys excellent visibility near the intersection of Elizabeth Lake Rd and M-59, averaging a combined daily traffic count of 56,078 vehicles. It’s also in close proximity to major national tenants such as McDonald's, AutoZone, Wendy's, Rite Aid, and more. Additionally, the Waterford School District is located just 5.5 miles away from the site. The 5-mile trade area is...

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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 : 10,290 68,146 164,350
2023 Total Population : 10,249 68,252 164,991
2023 Employed Civilian Pop : 5,325 32,517 78,499
2023 Total Businesses : 292 2,339 5,360
2023 Average Household Income : $ 83,307 $ 87,947 $ 101,319
2023 Total Consumer Spending : $ 351 M $ 2270 M $ 5997 M
2023 Median Age : 39 40 41
2023 Total Households : 4,829 29,665 68,288
2023 Pop Age 25+: Bachelor's Degree : 1,359 9,237 23,340
2023 Average Home Value : $ 262,322 $ 325,572 $ 352,038
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Elizabeth Lake Rd Marge St 2015 20,115 0.08 mi
100 FEET EAST OF M-59 (WATERFORD TWP) Marge St 2021 16,080 0.08 mi
Elizabeth Lake Rd Old Orchard Dr 2012 15,725 0.08 mi
West Huron Street Elizabeth Lake Rd 2022 31,218 0.10 mi
M 59 Hillcliff Dr 2021 23,892 0.12 mi
ELIZABETH LAKE RD W Huron St 2020 24,103 0.14 mi
Elizabeth Lake Road N Tilden Ave 2022 27,490 0.19 mi
BETWEEN M-59 AND CASS LAKE (WATERFORD TWP) Cass Lake Rd 2021 27,463 0.19 mi
Elizabeth Lake Rd Scott Lake Rd 2015 20,632 0.20 mi
Scott Lake Rd Elizabeth Lake Rd 2015 5,954 0.24 mi

Listing Broker

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