O'Reilly Auto Parts

9429 NC-127, Hickory, NC 28601

$1,775,000

Cap Rate 5.76%

Views: 235 DOM: 680 Updated: 10.06.24 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 13.4	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 13+ 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...

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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

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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...

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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

168 Listings
23619 Views
59 Sold

Eric Carlton

Colliers NNN Group

Contact

180 Listings
25403 Views
63 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

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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

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