Long Term Investment Grade Lease | 860 E Division St
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Long Term Investment Grade Lease 860 E Division St
7,225 SF 4-Star Retail Building Coal City, IL 60416 £1,650,970 (£229/SF) 5.80% Net Initial Yield
Investment Highlights
- Newer Long Term Corp Lease (13+ Yrs.) by O’Reilly Auto Parts (NASDAQ: ORLY) – Market CAP $59B+
- Attractive 6% Rent Bumps Every 5 Yrs. Starting Yr. 11 - Minimal LL Duties - Includes Roof Warranty
- Best in Class National Brand - Strong Lease Guarantee - Pride of Ownership 2022 Bldg. - Depreciable
- One of Largest Specialty Retailers of Automotive Parts/Accessories in U.S. – 6,131+ Stores Worldwide
- Excellent Visibility along Hwy 113 - Main Retail Corridor thru City - Near Coal City High School
- Small Price Point for Long Term STNL - Investment Grade Credit (S&P: BBB) - Minimal LL Duties
Executive Summary
The Snyder Carlton National Net Lease Team is pleased to offer to investors an opportunity to acquire the single tenant net leased O’Reilly Auto Parts in Coal City, IL. O’Reilly Auto Parts is a publicly traded company (NASDAQ: ORLY) with over 6,000 locations and has an investment grade credit rating from S&P of BBB. The long-term net lease has over 14 years remaining in the primary term with four 5-year option periods and rent increases in year 11 and every option period creating inflation resistant cash flows for years to come.
The 7,225 SF building on 0.74-acre parcel is located on E Division Street, which sees 12,800 VPD, is only 2 miles from Interstate 55 (23,100 VPD) and is within an hour from downtown Chicago (MSA population exceeding 9.5 million). Nearby retailers include McDonald’s, Dunkin’, Taco Bell, CVS Pharmacy, Ace Hardware and Dollar General. This is a great opportunity to purchase a long term net leased O’Reilly Auto Parts in the Chicago MSA with a corporate guarantee, rent increases, and limited landlord responsibilities providing years of inflation resistant income.
The 7,225 SF building on 0.74-acre parcel is located on E Division Street, which sees 12,800 VPD, is only 2 miles from Interstate 55 (23,100 VPD) and is within an hour from downtown Chicago (MSA population exceeding 9.5 million). Nearby retailers include McDonald’s, Dunkin’, Taco Bell, CVS Pharmacy, Ace Hardware and Dollar General. This is a great opportunity to purchase a long term net leased O’Reilly Auto Parts in the Chicago MSA with a corporate guarantee, rent increases, and limited landlord responsibilities providing years of inflation resistant income.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
7,225 SF
Building Class
B
LoopNet Rating
4 Star
Year Built
2022
Price
£1,650,970
Price Per SF
£229
Net Initial Yield
5.80%
NOI
£95,809
Tenancy
Single
Number of Floors
1
Building FAR
0.18
Lot Size
0.94 AC
Zoning
C-3 - Community Commercial
Parking
37 Spaces (5.12 Spaces per 1,000 SF Leased)
Frontage
150 ft on East Division Street
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 06-35-483-001 | Improvements Assessment | £186,880 |
| Land Assessment | £10,392 | Total Assessment | £197,272 |
PROPERTY TAXES
Parcel Number
06-35-483-001
Land Assessment
£10,392
Improvements Assessment
£186,880
Total Assessment
£197,272
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Long Term Investment Grade Lease | 860 E Division St
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