O'Reilly Auto Parts

1616 Tappahannock Blvd, Tappahannock, VA 22560

$1,960,116

Cap Rate 6.00%

Views: 113 DOM: 211 Updated: 09.06.24 Posted: 02.18.24 Status: Active

Summary

Price $1,960,116	Built/Renov 2020	Tenant O'Reilly Auto Parts
Cap Rate 6.00%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 7,225	Lease Start 01-28-2020	#Units 6,095
Price/SF $271.30	Expiration 01-27-2040	Tenant Type Automotive
NOI $117,607	R. Term 15.4	Ownership Fee Simple
Rent/SF $16.28	Increases 6.0%/7/yrs	Pop 5Mi 5,796
Lot/AC 0.92	Options 4/5yrs/6%	AHHI 5Mi $63,125

Kaveh Ebrahimi

Helios

Contact

Lease Highlights

O’Reilly Auto Parts has 15+ years remaining on the current lease term with 4 (5-year) options to extend
The lease features 6% rental escalations every 5 years throughout the initial term and each option period
Favorable NN+ lease with landlord responsible for roof, structure and asphalt
Corporate guarantee | Investment grade tenant

Location Description

O'Reilly Auto Parts is strategically located on Tappahannock Blvd., with access to 44,050 vehicles passing by daily. The property is surrounded by well-known national tenants, including Walmart Supercenter, Food Lion, Lowe’s Home Improvement, Fresenius Kidney Care, Dunkin’ Donuts, and more. Additionally, Days Inn, Holiday Inn, and Hampton Inn are in the immediate vicinity. The 5-mile trade...

...

Key Features

Build to suit
Roof guarantee
Dense retail corridor
Near major nationals
Strategically located
Long 15+ yr lease
Favorable NN+ lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

...

Links

O'Reilly Auto Parts Wikipedia O'Reilly Auto Parts Wikipedia Tappahannock, Virginia Zip Code 22560 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 :	692	3,860	5,820
2023 Total Population :	691	3,860	5,838
2023 Employed Civilian Pop :	299	1,726	2,762
2023 Total Businesses :	162	384	420
2023 Average Household Income :	$ 64,836	$ 63,577	$ 69,443
2023 Total Consumer Spending :	$ 20 M	$ 92 M	$ 152 M
2023 Median Age :	46	45	45
2023 Total Households :	358	1,674	2,517
2023 Pop Age 25+: Bachelor's Degree :	84	446	675
2023 Average Home Value :	$ 323,810	$ 295,005	$ 307,361

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Tappahannock Boulevard	Teakwood Dr	2021	22,000	0.12 mi
Church Ln	Teakwood Dr	2016	22,000	0.12 mi
Tappahannock Boulevard	White Oak Dr	2021	22,000	0.13 mi
Church Ln	Teakwood Dr	2016	22,000	0.13 mi
Tappahannock Boulevard	Teakwood Dr	2018	23,000	0.13 mi
Winston Road	Old Creek Lake Dr	2020	3,400	0.17 mi
White Oak Dr	Hobbs Hole Dr	2011	2,700	0.18 mi
SR 1037	Townhouse Dr	2020	730	0.23 mi
SR T 1032	Sycamore Dr	2020	180	0.31 mi
R-VA028SC01045NB	Ridgecrest Ct	2020	300	0.31 mi

Listing Broker

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