Auto Parts
O’Reilly Auto Parts
459 S Transit Rd, Lockport, NY 14094
Listing Price: $3,000,000
Investment Overview
Marcus & Millichap is pleased to offer for sale the fee simple interest in a newly renovated 14,832-square-foot single-tenant auto-parts store (the Property) in Lockport, NY, in which O’Reilly Auto Parts has 10 years remaining on its newly signed double-net lease, with a 10 percent rent increase in 2030. The lease features four 5-year renewal options with a 6 percent rent increase in the first renewal option and an 8 percent increase in each of the others.
A former pharmacy, the Property sits on a 1.62-acre parcel at a 31,990+ AADT signalized intersection along the highly developed South Transit Street (State Route 78) retail corridor. DaVita Kidney Care and Little Caesars are immediate neighbors, and shopping centers to the south are anchored by The Home Depot, Walmart Supercenter, Harbor Freight, Runnings and Tops Friendly Markets.
In western New York State on either side of the Erie Canal, Lockport offers businesses access to over 2.5 GW of hydroelectric power generated by Niagara Falls. General Motors operates a 2.6 million-square-foot component plant in Lockport, and MAHLE and Bison Bag Company also have Lockport facilities. The city sits 21.8 miles northeast of Downtown Buffalo, NY.
O’Reilly Automotive Inc. operates over 6,187 O’Reilly Auto Parts stores and distributes parts to independent stores under the Parts City Banner. The company reported $15.8 billion in sales in FY2023 and ranks No. 261 on the Fortune 500 list.
This exclusive opportunity offers a net-lease investor a newly renovated hard-corner property on a busy retail corridor as well as the security of a newly signed lease backed by a publicly traded company.
O’Reilly Auto Parts
Investment Highlights
- Newly Signed 10-Year Lease With 10 Percent Rent Increase in February 2030
- Four 5-Year Renewal Options, With 6 Percent Rent Increase in the First Option and 8 Percent Increases in the Subsequent Options
- Sits on 31,990+ AADT Signalized Hard Corner Along Retail Corridor Anchored by The Home Depot, Walmart Supercenter, Harbor Freight and Tops
- In the 1,155,604-Person Buffalo-Cheektowaga, NY, Metro Area
- O'Reilly Automotive Inc. Operates Over 6,187 U.S. Stores and Recently Acquired Canada's Vast Auto
- Retail Neighbors Include Caliber Collision, Pep Boys, Aldi, PetSmart, Burger King, Wendy's, OfficeMax, Tim Hortons, Five Below and T.J. Maxx
Listing Price: $3,000,000
Investment Highlights
- Newly Signed 10-Year Lease With 10 Percent Rent Increase in February 2030
- Four 5-Year Renewal Options, With 6 Percent Rent Increase in the First Option and 8 Percent Increases in the Subsequent Options
- Sits on 31,990+ AADT Signalized Hard Corner Along Retail Corridor Anchored by The Home Depot, Walmart Supercenter, Harbor Freight and Tops
- In the 1,155,604-Person Buffalo-Cheektowaga, NY, Metro Area
- O'Reilly Automotive Inc. Operates Over 6,187 U.S. Stores and Recently Acquired Canada's Vast Auto
- Retail Neighbors Include Caliber Collision, Pep Boys, Aldi, PetSmart, Burger King, Wendy's, OfficeMax, Tim Hortons, Five Below and T.J. Maxx
Investment Overview
Marcus & Millichap is pleased to offer for sale the fee simple interest in a newly renovated 14,832-square-foot single-tenant auto-parts store (the Property) in Lockport, NY, in which O’Reilly Auto Parts has 10 years remaining on its newly signed double-net lease, with a 10 percent rent increase in 2030. The lease features four 5-year renewal options with a 6 percent rent increase in the first renewal option and an 8 percent increase in each of the others. A former pharmacy, the Property sits on a 1.62-acre parcel at a 31,990+ AADT signalized intersection along the highly developed South Transit Street (State Route 78) retail corridor. DaVita Kidney Care and Little Caesars are immediate neighbors, and shopping centers to the south are anchored by The Home Depot, Walmart Supercenter, Harbor Freight, Runnings and Tops Friendly Markets. In western New York State on either side of the Erie Canal, Lockport offers businesses access to over 2.5 GW of hydroelectric power generated by Niagara Falls. General Motors operates a 2.6 million-square-foot component plant in Lockport, and MAHLE and Bison Bag Company also have Lockport facilities. The city sits 21.8 miles northeast of Downtown Buffalo, NY. O’Reilly Automotive Inc. operates over 6,187 O’Reilly Auto Parts stores and distributes parts to independent stores under the Parts City Banner. The company reported $15.8 billion in sales in FY2023 and ranks No. 261 on the Fortune 500 list. This exclusive opportunity offers a net-lease investor a newly renovated hard-corner property on a busy retail corridor as well as the security of a newly signed lease backed by a publicly traded company.
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