O'Reilly Auto Parts 9429 NC Highway 127 7,225 SF Retail Building Hickory, NC 28601 £1,337,285 (£185.09/SF) 5.76% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Long Term Corp Lease (15.5 Yrs.) by O’Reilly Auto Parts - Market CAP $46.25B
- 6% Rent Bumps Every 5 Yrs. - All Options - Minimal LL Duties - Includes Roof Warranty
- Affluent Suburb outside Charlotte - Strong Demo’s ($118K HHI) - Population Growth
- One of Largest Specialty Retailers of Automotive Parts/Accessories in U.S.
- Outparcel to Grocery-Anchored Shopping Center) - Monument Signage
- Small Price Point - Lower Rents/Downside Risk - Minimal LL Duties - Near University
EXECUTIVE SUMMARY
The Snyder Carlton Team is pleased to offer to qualified investors an opportunity to purchase an investment grade single tenant net leased asset that is fully occupied by O’Reilly Auto Parts (NASDAQ: ORLY) with over 15.5 lease years remaining. Located in Hickory, NC, the property comprises a ~7,225 SF building on a 0.82-acre lot and is positioned as an outparcel to the grocery anchored shopping center, Bethlehem Village Shopping Center. The property benefits from easy access and good visibility along State Route 127 as well as being the primary daily needs retail destination serving the surrounding community. This is an excellent opportunity to own an investment grade credit tenant (NASDAQ: ORLY – rated “BBB+” by S&P) with over 15.5 years of lease term remaining, 10% rental increases every 5 years and minimal landlord management responsibilities.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
7,225 SF
Building Class
B
Year Built
2018
Price
£1,337,285
Price Per SF
£185.09
Net Initial Yield
5.76%
NOI
£77,046
Tenancy
Single
Number of Floors
1
Building FAR
0.20
Lot Size
0.82 AC
Parking
25 Spaces (3.46 Spaces per 1,000 SF Leased)
Frontage
187 ft on North Carolina 127
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 0004718 | Improvements Assessment | £404,769 |
| Land Assessment | £148,655 | Total Assessment | £553,424 |
