O'Reilly Auto Parts 1204 Federal Rd 8,600 SF 100% Leased Retail Building Houston, TX 77015 £1,570,454 (£182.61/SF) 5.65% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Absolute NNN Lease
- The majority of available O’Reilly Auto Parts properties are NN with a 6% rent increase in Year 11
- Defendable annual rent of $13.59/SF
- 2% annual rent increases (5.90% blended cap rate over remaining term)
- Ranked in the 86th percentile nationwide & 84th percentile in Texas for visits over the past 12 months
- Ideal demographics: 78,718 residents within 3-miles with $58,762 Average Household Incomes
EXECUTIVE SUMMARY
Extremely Rare Absolute NNN Lease With 2% Annual Rent Increases
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Repair
Building Size
8,600 SF
Building Class
C
Year Built
1988
Price
£1,570,454
Price Per SF
£182.61
Net Initial Yield
5.65%
NOI
£88,724
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.23
Lot Size
0.86 AC
Zoning
n/a
Walk Score®
Very Walkable (77)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 0690390000111 | Improvements Assessment | £488,258 |
| Land Assessment | £170,274 | Total Assessment | £658,532 |
