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Miscellaneous

O'Reilly Auto Parts & Tractor Supply - Johnston RI

2750 Hartford Ave, Johnston, RI 02919

Listing Price: $8,110,000

Cap Rate
5.50%
Tenant Name
O'Reilly Auto Parts, Tractor Supply
Years Remaining On Lease
15.2
Guarantor
Corporate Guarantee
Rentable SF
26,322
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$16.94

Investment Overview

The subject property is a Tractor Supply and O’Reilly Auto Parts located in Johnston, Rhode Island. The property consists of 6.65 acres of land and is situated less than ten miles from Downtown Providence. Located on Hartford Avenue, also known as Route 6, there are over 24,000 vehicles passing the property every day. Demographics in the area are strong as the average household income is over $110,000. Other retailers in the area include Stop & Shop, Home Depot, BJ’s, Ocean State Job Lot, CVS, Cumberland Farms, Dunkin’, Subway, and more. The Tractor Supply was built in 2014 and has just under ten years remaining on its lease. Rental increases are 10% every five years and Tractor Supply has four five-year options to extend the lease. Operating on a NNN lease, the landlord is responsible for roof, structure, and parking. The lease also allows for an 8% administration fee and is corporately guaranteed by Tractor Supply Company, which has an S&P credit rating of BBB. The O’Reilly Auto Parts was built in 2016 and has 16 years remaining on its lease with four five-year options to extend. Rental increases are 6% every five years and the lease has a corporate guarantee by O’Reilly Automotive Stores, Inc., which has an S&P credit rating of BBB+. O’Reilly’s operates on a NNN lease as well and the landlord is responsible for roof, structure, parking lot and landscaping replacement. The lease also allows for a 4% administration fee.

Investment Highlights

  • NNN Leases with an Average of 13 Years Remaining
  • Both Leases: Four Five-Year Options with Rental Increases Every Five Years
  • Both Leases are Corporate Guaranteed

Exclusively Listed By

Broker of Record

  • John Horowitz

    First Vice President / District Manager

    License(s): RI: REC.0018863

    Rhode Island

Miscellaneous

O'Reilly Auto Parts & Tractor Supply - Johnston RI

Listing Price: $8,110,000

Cap Rate
5.50%
Tenant Name
O'Reilly Auto Parts, Tractor Supply
Years Remaining On Lease
15.2
Guarantor
Corporate Guarantee
Rentable SF
26,322
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$16.94

Investment Highlights

  • NNN Leases with an Average of 13 Years Remaining
  • Both Leases: Four Five-Year Options with Rental Increases Every Five Years
  • Both Leases are Corporate Guaranteed

Investment Overview

The subject property is a Tractor Supply and O’Reilly Auto Parts located in Johnston, Rhode Island. The property consists of 6.65 acres of land and is situated less than ten miles from Downtown Providence. Located on Hartford Avenue, also known as Route 6, there are over 24,000 vehicles passing the property every day. Demographics in the area are strong as the average household income is over $110,000. Other retailers in the area include Stop & Shop, Home Depot, BJ’s, Ocean State Job Lot, CVS, Cumberland Farms, Dunkin’, Subway, and more. The Tractor Supply was built in 2014 and has just under ten years remaining on its lease. Rental increases are 10% every five years and Tractor Supply has four five-year options to extend the lease. Operating on a NNN lease, the landlord is responsible for roof, structure, and parking. The lease also allows for an 8% administration fee and is corporately guaranteed by Tractor Supply Company, which has an S&P credit rating of BBB. The O’Reilly Auto Parts was built in 2016 and has 16 years remaining on its lease with four five-year options to extend. Rental increases are 6% every five years and the lease has a corporate guarantee by O’Reilly Automotive Stores, Inc., which has an S&P credit rating of BBB+. O’Reilly’s operates on a NNN lease as well and the landlord is responsible for roof, structure, parking lot and landscaping replacement. The lease also allows for a 4% administration fee.

Exclusively Listed By

Broker of Record

  • John Horowitz

    First Vice President / District Manager

    License(s): RI: REC.0018863

    Rhode Island

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