O'Reilly Auto Parts

815 North Main Street, Marion, NC 28752

$1,590,000

Cap Rate 6.00%

Views: 98 DOM: 212 Updated: 11.11.24 Posted: 04.23.24 Status: Active

Summary

Price $1,590,000	Built/Renov 2014	Tenant O'Reilly Auto Parts
Cap Rate 6.00%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 6,800	Lease Start 10-01-2014	#Units 6,095
Price/SF $233.82	Expiration 09-30-2034	Tenant Type Automotive
NOI $95,400	R. Term 9.10	Ownership Fee Simple
Rent/SF $14.03	Increases 6.0%/1/yrs	Pop 5Mi 22,366
Lot/AC 2.23	Options 3/5yrs/6%	AHHI 5Mi $61,799

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 Main Street, with access to 14,000 vehicles passing by daily. The property is surrounded by well-known national tenants including Advanced Auto Parts, Tractor Supply Co., Bojangles, Hardee’s, Aaron’s, and more. Additionally, in the vicinity are Blue Ridge Terrace Apartments, Capital Hill Apartments, McDowell High School, among others. The 5-mile...

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Key Features

Build to suit
In location for years
Near major nationals
Strategically located
Top 100 MSA
Long 10+ yr lease
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 Marion, North Carolina Zip Code 28752 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 :	2,571	13,547	21,214
2023 Total Population :	2,518	13,503	21,231
2023 Employed Civilian Pop :	1,013	5,566	8,785
2023 Total Businesses :	339	836	1,006
2023 Average Household Income :	$ 63,807	$ 68,135	$ 72,270
2023 Total Consumer Spending :	$ 57 M	$ 344 M	$ 568 M
2023 Median Age :	45	43	43
2023 Total Households :	1,022	5,698	8,883
2023 Pop Age 25+: Bachelor's Degree :	271	1,392	2,208
2023 Average Home Value :	$ 186,848	$ 227,761	$ 245,040

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
	Valley Hill Dr	2022	491	0.02 mi
Valley St	Valley Hill Dr	2004	760	0.04 mi
North Main Street	Ginger Dr	2019	15,000	0.07 mi
	John Gilkey Rd	2022	339	0.08 mi
North Main Street	Westwood Chateau Dr	2022	15,342	0.13 mi
Valley Street	Howard Dr	2019	350	0.24 mi
North Main Street	Montevista Ave	2022	16,084	0.44 mi
North Main Street	Viewpoint Dr	2022	10,318	0.57 mi
Garden Creek Road	N Main St	2022	202	0.58 mi
Fleming Avenue	Dogwood Ln	2022	2,098	0.66 mi

Listing Broker

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