O'Reilly Auto Parts

110 Travis Avenue, Saluda, SC 29138

$1,489,440

Cap Rate 6.25%

Views: 182 DOM: 409 Updated: 10.14.24 Posted: 11.08.23 Status: Active

Summary

Price $1,489,440	Built/Renov 2022	Tenant O'Reilly Auto Parts
Cap Rate 6.25%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 7,000	Lease Start 11-01-2022	#Units 6,095
Price/SF $212.78	Expiration 10-31-2037	Tenant Type Automotive
NOI $93,090	R. Term 12.10	Ownership Fee Simple
Rent/SF $13.30	Increases 6.0%/9/yrs	Pop 5Mi 6,681
Lot/AC 1.68	Options 4/5yrs/6%	AHHI 5Mi $56,712

Lease Highlights

New 2022 construction
O’Reilly Auto Parts has 13 years of primary term remaining with 4 (5-year) renewal options
The lease features 6% rent increases in November 2032 and in each option period
Corporate guaranteed lease (NASDAQ: ORLY)
Investment grade tenant (S&P: BBB)

Location Description

O’Reilly Auto Parts is strategically located with excellent visibility along Travis Avenue, with access to 6,100 vehicles passing by daily. The property is conveniently just feet from its signalized intersection with North Jennings Street (5,000 VPD). Additionally, it is also the only store for 16 miles. The site is immediately adjacent to The Hardware Store and Star Motors II and is across...

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Key Features

New construction
Dense retail corridor
Near major nationals
Strategically located
Top 100 MSA
Long 10+ yr lease
Limited competition
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

O'Reilly Auto Parts Wikipedia O'Reilly Auto Parts Wikipedia Saluda, South Carolina Zip Code 29138 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 :	3,181	4,396	6,505
2023 Total Population :	3,225	4,452	6,608
2023 Employed Civilian Pop :	1,149	1,569	2,392
2023 Total Businesses :	192	226	252
2023 Average Household Income :	$ 54,087	$ 55,784	$ 56,901
2023 Total Consumer Spending :	$ 58 M	$ 81 M	$ 126 M
2023 Median Age :	37	37	37
2023 Total Households :	1,207	1,620	2,485
2023 Pop Age 25+: Bachelor's Degree :	311	462	637
2023 Average Home Value :	$ 150,361	$ 155,932	$ 153,174

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Travis Avenue	Travis Ave	2022	6,100	0.07 mi
West Butler Avenue	State Rd S-41-199	2022	800	0.15 mi
Greenwood Highway	N Main St	2022	6,400	0.15 mi
North Jennings Street	E Butler Ave	2022	5,000	0.16 mi
East Highland Street	N Jennings St	2022	750	0.22 mi
North Calhoun Street	Matthews Dr	2022	225	0.22 mi
North Main Street	W Church St	2021	6,600	0.23 mi
North Main Street	Sunset St	2022	6,700	0.23 mi
South Jefferson Street	W Eutaw St	2022	1,900	0.32 mi
Waters Avenue	Bowie St	2022	900	0.39 mi

Listing Broker

Chris Bosworth

CBRE: NLPG Atlanta

Contact

133 Listings
16753 Views
62 Sold

Brian Pfohl

CBRE: NLPG Atlanta

Contact

132 Listings
16903 Views
60 Sold

Chris Bosworth

Chris Bosworth is a Vice Chairman and Managing Director of the CBRE Net Lease Property Group and Corporate Capital Markets practice. Mr. Bosworth’s focus is to advise institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. In his career, Mr. Bosworth and his partners, Will Pike and Brian Pfohl, have been responsible for the disposition of 3,900 transactions valued in excess of $29 billion. Mr. Bosworth and Mr. Pike co-head the

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Brian Pfohl

Brian Pfohl is an Executive Vice President with CBRE’s Net Lease Property and Corporate Capital Markets practice groups. Mr. Pfohl’s singular focus is to advise corporate users, institutions, private equity firms, REITs, developers, and private individuals regarding all facets of net-leased properties. Mr. Pfohl’s expertise stems from the myriad of sale-leaseback transactions, net lease investment sales, programmatic portfolio dispositions, and advisement assignments he has completed throughout

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Thomas Carr

CBRE: NLPG Atlanta

Contact

135 Listings
16904 Views
63 Sold

Thomas Carr

Thomas Carr is an Senior Investment Sales Analyst with CBRE’s Net Lease Property Group. As a member of the team led by Chris Bosworth and Will Pike, Mr. Carr plays an integral role in all aspects of the group’s property valuation, underwriting, and marketing efforts. He is also actively involved in marketing the team’s disposition assignments, specializing in single-tenant assets, national net-lease portfolios, and corporate sale-leasebacks, as well as advising 1031 exchange buyers. Mr. Carr

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