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Auto Parts

O'Reilly Auto Parts (NASDAQ: ORLY) | Fort Wayne | Long Term Lease | Investment Grade Credit Tenant

1705 W Till Rd, Fort Wayne, IN 46818

Listing Price: $3,060,842

Cap Rate
4.75%
Tenant Name
O'Reilly Auto Parts
Years Remaining On Lease
16.3
Gross SF
12,000
Guarantor
Corporate Guarantee
Rentable SF
12,000
Price/Gross SF
$255.07
Lease Type
Double Net
Rent Per Square Feet
$12.12

Investment Overview

Fort Wayne is a city in and the county seat of Allen County, Indiana. Located in northeastern Indiana, the city is 18 miles west of the Ohio border and 50 miles south of the Michigan border. The city’s population was 263,886 as of the 2020 Census, making it the second-most populous city in Indiana after Indianapolis, and the 76th-most populous city in the United States. It is the principal city of the Fort Wayne metropolitan area, consisting of Allen, Wells, and Whitley counties, a combined population of 419,453 as of 2011. Fort Wayne is the cultural and economic center of northeastern Indiana. In addition to the three core counties, the combined statistical area (CSA) includes Adams, DeKalb, Huntington, Noble, and Steuben counties, with an estimated population of 615,077. Once a booming manufacturing town located in what became known as the Rust Belt, Fort Wayne’s economy in the 21st century is based upon distribution, transportation and logistics; healthcare, professional and business services; leisure and hospitality, and financial services. The city is a center for the defense industry which employs thousands. There are also many jobs through local healthcare providers Parkview Health and Lutheran Health Network. Fort Wayne was an All-America City Award recipient in 1983, 1998, 2009, and 2021. The city also received an Outstanding Achievement City Livability Award by the U.S. Conference of Mayors in 1999.

Investment Highlights

  • Corporate Long Term Lease with Over 16 Years Remaining Featuring 6% Rental Increases Every 5 Years throughout the Initial Term and Options.
  • Positioned Along Area's Retail & Traffic Corridor: Signalized Hard Corner Location - Features Easy Access & Excellent Visibility with Daily Combined Traffic Counts Exceeding 35k Vehicles.
  • Densely Populated and Affluent Area: Features an Average Household Income of more than $86k within a 1-Mile Radius and over 94k People Residing within a 5-Mile Radius.
  • Near Numerous National Retailers including Walmart Supercenter, ALDI, PetSmart, Office Depot, CVS Pharmacy, Walgreens and many more.
  • The Overall Company is Ranked #279 on Fortune 500 List & Features a S&P Investment Grade Credit Rating of "BBB" with an Annual Revenue of 13.32 Billion.

Exclusively Listed By

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    Email Alvin

    License(s): CA: 01391653, TX: 0606255

    San Diego

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Financing By

Auto Parts

O'Reilly Auto Parts (NASDAQ: ORLY) | Fort Wayne | Long Term Lease | Investment Grade Credit Tenant

Listing Price: $3,060,842

Cap Rate
4.75%
Tenant Name
O'Reilly Auto Parts
Years Remaining On Lease
16.3
Gross SF
12,000
Guarantor
Corporate Guarantee
Rentable SF
12,000
Price/Gross SF
$255.07
Lease Type
Double Net
Rent Per Square Feet
$12.12

Investment Highlights

  • Corporate Long Term Lease with Over 16 Years Remaining Featuring 6% Rental Increases Every 5 Years throughout the Initial Term and Options.
  • Positioned Along Area's Retail & Traffic Corridor: Signalized Hard Corner Location - Features Easy Access & Excellent Visibility with Daily Combined Traffic Counts Exceeding 35k Vehicles.
  • Densely Populated and Affluent Area: Features an Average Household Income of more than $86k within a 1-Mile Radius and over 94k People Residing within a 5-Mile Radius.
  • Near Numerous National Retailers including Walmart Supercenter, ALDI, PetSmart, Office Depot, CVS Pharmacy, Walgreens and many more.
  • The Overall Company is Ranked #279 on Fortune 500 List & Features a S&P Investment Grade Credit Rating of "BBB" with an Annual Revenue of 13.32 Billion.

Investment Overview

Fort Wayne is a city in and the county seat of Allen County, Indiana. Located in northeastern Indiana, the city is 18 miles west of the Ohio border and 50 miles south of the Michigan border. The city’s population was 263,886 as of the 2020 Census, making it the second-most populous city in Indiana after Indianapolis, and the 76th-most populous city in the United States. It is the principal city of the Fort Wayne metropolitan area, consisting of Allen, Wells, and Whitley counties, a combined population of 419,453 as of 2011. Fort Wayne is the cultural and economic center of northeastern Indiana. In addition to the three core counties, the combined statistical area (CSA) includes Adams, DeKalb, Huntington, Noble, and Steuben counties, with an estimated population of 615,077. Once a booming manufacturing town located in what became known as the Rust Belt, Fort Wayne’s economy in the 21st century is based upon distribution, transportation and logistics; healthcare, professional and business services; leisure and hospitality, and financial services. The city is a center for the defense industry which employs thousands. There are also many jobs through local healthcare providers Parkview Health and Lutheran Health Network. Fort Wayne was an All-America City Award recipient in 1983, 1998, 2009, and 2021. The city also received an Outstanding Achievement City Livability Award by the U.S. Conference of Mayors in 1999.

Exclusively Listed By

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    Email Alvin

    License(s): CA: 01391653, TX: 0606255

    San Diego

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

Financing By

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