O'Reilly Auto Parts

9429 NC-127, Hickory, NC 28601

$1,775,000

Cap Rate 5.76%

Views: 134 DOM: 584 Updated: 09.08.24 Posted: 02.10.23 Status: Active

Summary

Price $1,775,000	Built/Renov 2018	Tenant O'Reilly Auto Parts
Cap Rate 5.76%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 7,225	Lease Start 04-16-2018	#Units 6,095
Price/SF $245.67	Expiration 04-30-2038	Tenant Type Automotive
NOI $102,265	R. Term 13.7	Ownership Fee Simple
Rent/SF $14.15	Increases 6.0%/5/yrs	Pop 5Mi 45,922
Lot/AC 0.82	Options 4/5yrs/6%	AHHI 5Mi $90,284

Lease Highlights

O’Reilly’s has been operating in this location since 2018
Tenant has 14+ years remaining on its initial lease term with 4 (5-year) options to extend
Lease features an increase of 6% every 5 years throughout initial term and at the beginning of options
Double NN lease (landlord pays for roof, structure & parking lot)
Corporate guarantee by O’Reilly Automotive, Inc. (NASDAQ: ORLY)
O’Reilly Automotive, Inc is an investment grade tenant (S&P: BBB)

Location Description

The site is positioned as an outparcel to the grocery-anchored shopping center, Bethlehem Village Shopping Center (55,000+ SF). The property benefits from easy access and good visibility along State Route 127 as well as being the primary retail destination serving the surrounding community. The 3-mile radius is supported by more than 14,500 residents earning an average household income of...

...

Key Features

Near major nationals
Shopping Ctr out-parcel
Strategically located
Highway location
Affluent suburb location
Long 10+ yr lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

...

Links

O'Reilly Auto Parts Wikipedia O'Reilly Auto Parts Wikipedia Hickory, North Carolina Zip Code 28601 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...

...

Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	2,599	15,107	47,195
2023 Total Population :	2,555	14,787	46,623
2023 Employed Civilian Pop :	1,148	6,516	21,653
2023 Total Businesses :	83	256	981
2023 Average Household Income :	$ 117,582	$ 118,421	$ 94,930
2023 Total Consumer Spending :	$ 108 M	$ 629 M	$ 1637 M
2023 Median Age :	49	46	44
2023 Total Households :	1,063	6,161	19,928
2023 Pop Age 25+: Bachelor's Degree :	476	2,713	7,911
2023 Average Home Value :	$ 341,621	$ 341,716	$ 289,086

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
SR 1137	Hwy 127	2020	6,900	0.14 mi
Rink Dam Road	Camelot Ln	2021	7,900	0.14 mi
	Blackburn Wike Rd	2021	11,000	0.16 mi
South and K Road	Woodring Ln	2021	300	0.24 mi
Rink Dam Rd	Bolick Ln	2003	7,700	0.30 mi
Chigger Ridge Road	Rink Dam Rd	2021	450	0.48 mi
State Hwy 127	Gene Moretz Ln	2003	12,000	0.55 mi
	Gazebo Rd	2021	15,500	0.61 mi
Skyline Road	Lakeview Ln	2021	100	0.63 mi
Shiloh Church Road		2019	4,700	0.68 mi

Listing Broker

Jereme Snyder

Colliers NNN Group

Contact

157 Listings
17408 Views
55 Sold

Eric Carlton

Colliers NNN Group

Contact

169 Listings
18720 Views
58 Sold

Jereme Snyder

Jereme S. Snyder is a Executive Vice President within the Retail Services Group in Greater Los Angeles and a Director of Colliers NNN Group for Colliers International nationwide. The Colliers Retail Services Team is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting in debt solutions. Colliers NNN Group is a national

...

Eric Carlton

Eric Carlton serves as Executive Vice President within the Retail Capital Markets Group of Greater Los Angeles, Partner of the Colliers NNN Group, and Co-Founder of the Snyder/Carlton Team for Colliers International nationwide. The Colliers Retail Services Group is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting i

...

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT