O'Reilly Auto Parts | 1275 N Main St
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O'Reilly Auto Parts 1275 N Main St
8,005 SF Retail Building Vidor, TX 77662 £863,825 (£108/SF) 5.50% Net Initial Yield
Executive Summary
Unwavering Tenant Commitment – In 2023, O’Reilly Auto Parts exercised the first renewal option on their lease. Although they still had four years left on this renewed term, O’Reilly decided to extend their commitment even further by agreeing to a new lease that runs through 2034 with two options remaining after that.
#1 in Sales Growth – Out of the top auto parts retailers in the country, O’Reilly is #1 in revenue growth, having increased their total revenue from $9.5 Billion in 2018 to $14.4 Billion in 2022. Currently their market valuation is $53.7 Billion.
Walmart Shadow Retail – Subject property is across the street from the only Walmart Supercenter in the city. A couple of years ago, Brookshire Brothers moved out of the adjacent space to Walmart and into a freestanding building, which allowed Walmart to expand their space and became a Walmart Supercenter.
Rare Absolute NNN Lease – O’Reilly Auto Parts is responsible for taxes, insurance, and all the maintenance on this lease. Primarily, their leases are NN with roof, structure, and sometimes parking lot responsibility.
“Essential” Business – Auto parts retailers were deemed essential businesses and remained open during the COVID shutdown.
Favorably Low Rent – The average O’Reilly Auto Parts store pays around $110,000+ in annual rent; however, O’Reilly is paying nearly 50% of that amount at this location, which helps their unit-level profitability.
Along the 10 Freeway – Vidor is a pit-stop city along the busy 10 Interstate Freeway that services ±60,000 cars per day and connects Houston to Baton Rouge, LA.
Longstanding Operating History – This property was formerly Hi-Lo Auto Supply between 1991 to 1999, which is when O’Reilly Auto Parts acquired the business. This property has been an auto parts store for 33+ years, solidifying its presence in the local market.
CONRAD SARREAL, CHAD KURZ, AND KEVIN PUDER are in conjunction with Matthews Real Estate Investment Services, Inc., a cooperating foreign broker for this listing pursuant to Section 535.4(b) of the Texas Administrative Code.
Broker of Record
Patrick Graham
License No. 9005919 (TX)
#1 in Sales Growth – Out of the top auto parts retailers in the country, O’Reilly is #1 in revenue growth, having increased their total revenue from $9.5 Billion in 2018 to $14.4 Billion in 2022. Currently their market valuation is $53.7 Billion.
Walmart Shadow Retail – Subject property is across the street from the only Walmart Supercenter in the city. A couple of years ago, Brookshire Brothers moved out of the adjacent space to Walmart and into a freestanding building, which allowed Walmart to expand their space and became a Walmart Supercenter.
Rare Absolute NNN Lease – O’Reilly Auto Parts is responsible for taxes, insurance, and all the maintenance on this lease. Primarily, their leases are NN with roof, structure, and sometimes parking lot responsibility.
“Essential” Business – Auto parts retailers were deemed essential businesses and remained open during the COVID shutdown.
Favorably Low Rent – The average O’Reilly Auto Parts store pays around $110,000+ in annual rent; however, O’Reilly is paying nearly 50% of that amount at this location, which helps their unit-level profitability.
Along the 10 Freeway – Vidor is a pit-stop city along the busy 10 Interstate Freeway that services ±60,000 cars per day and connects Houston to Baton Rouge, LA.
Longstanding Operating History – This property was formerly Hi-Lo Auto Supply between 1991 to 1999, which is when O’Reilly Auto Parts acquired the business. This property has been an auto parts store for 33+ years, solidifying its presence in the local market.
CONRAD SARREAL, CHAD KURZ, AND KEVIN PUDER are in conjunction with Matthews Real Estate Investment Services, Inc., a cooperating foreign broker for this listing pursuant to Section 535.4(b) of the Texas Administrative Code.
Broker of Record
Patrick Graham
License No. 9005919 (TX)
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Auto Repair
Building Size
8,005 SF
Building Class
C
Year Built
1968
Price
£863,825
Price Per SF
£108
Net Initial Yield
5.50%
NOI
£47,510
Tenancy
Single
Number of Floors
1
Building FAR
0.23
Lot Size
0.81 AC
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 003104-000210 | Improvements Assessment | £131,486 |
| Land Assessment | £221,677 | Total Assessment | £353,164 |
PROPERTY TAXES
Parcel Number
003104-000210
Land Assessment
£221,677
Improvements Assessment
£131,486
Total Assessment
£353,164
Contacts
-
Conrad Sarreal -
Chad Kurz -
Kevin Puder -
Matthews Real Estate Investment Services
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O'Reilly Auto Parts | 1275 N Main St
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