Auto Parts

O'Reilly Auto Parts

1800 Thomas Drive, Panama City, FL 32408

Listing Price: $2,770,455

Cap Rate
5.15%
Tenant Name
O'Reilly Auto Parts
Years Remaining On Lease
14.4
Guarantor
Corporate Guarantee
Rentable SF
7,396
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$19.29

Investment Overview

Marcus & Millichap is pleased to present for sale O’Reilly Auto Parts a single-tenant property located at 1800 Thomas Drive, Panama City, Florida 32408. O’Reilly’s is under construction and set to be completed in early 2021 and will be comprised of a 7,396 square foot building. The building will sit on a large 33,977 square foot lot with frontage on Thomas Drive that oversees 27,000+ Vehicles Per Day. O’Reilly’s will operate on a brand new 15-year triple-net lease. The landlord will be responsible for the roof & structure as well as the HVAC system for the first five years of the lease. O’Reilly’s will see a 6% increase in rent on year 11 as well as the four, 5-year options. O’Reilly Auto Parts benefits from a substantial built-in customer base with a population of 125,000+ & 51,000+ households in a 10-mile radius, as well as an average household income of $68,479. Strategically located, O’Reilly Auto Parts is being constructed on the cities major thoroughfare surrounded by national retailers such as Dollar General, Sonic, Waffle House, Advance Auto Parts, Publix Market, Winn Dixie, Wells Fargo, Burger King, Dunkin’ Donuts, and McDonald's. O’Reilly Auto Parts is the dominant auto parts retailer in all of its market areas. From their roots as a single store in 1957 to their current size of 5,592 stores in 47 U.S. states and 21 ORMA stores in Mexico (and growing), O’Reilly Auto Parts has come a long way. O’Reilly Automotive intends to be the dominant supplier of auto parts in our market areas by offering its retail customers, professional installers, and jobbers the best combination of price and quality provided with the highest possible service level. In order to accomplish this mission, O’Reilly will provide a benefit and compensation plan that will attract and keep the kind of people that will enable the Company to reach its goals of growth and success.

Investment Highlights

  • New Triple-Net Lease: 15 Years Remaining / 6% Increase in Year 11 & the Four, 5 Year Options
  • Excellent Access / Visibility: Frontage on Thomas Drive the Major Thoroughfare in Panama City with over 27,000+ vehicles per day
  • Across from Naval Support Activity Panama City: 650 Acre Naval Base along St. Andrew Bay. On-site more than 4,000 Civilian & Military Personnel with an Annual Payroll of more than $466 Million.

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    License(s): FL: BK3154667

    Florida

Listing Price: $2,770,455

Cap Rate
5.15%
Tenant Name
O'Reilly Auto Parts
Years Remaining On Lease
14.4
Guarantor
Corporate Guarantee
Rentable SF
7,396
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$19.29

Investment Highlights

  • New Triple-Net Lease: 15 Years Remaining / 6% Increase in Year 11 & the Four, 5 Year Options
  • Excellent Access / Visibility: Frontage on Thomas Drive the Major Thoroughfare in Panama City with over 27,000+ vehicles per day
  • Across from Naval Support Activity Panama City: 650 Acre Naval Base along St. Andrew Bay. On-site more than 4,000 Civilian & Military Personnel with an Annual Payroll of more than $466 Million.

Investment Overview

Marcus & Millichap is pleased to present for sale O’Reilly Auto Parts a single-tenant property located at 1800 Thomas Drive, Panama City, Florida 32408. O’Reilly’s is under construction and set to be completed in early 2021 and will be comprised of a 7,396 square foot building. The building will sit on a large 33,977 square foot lot with frontage on Thomas Drive that oversees 27,000+ Vehicles Per Day. O’Reilly’s will operate on a brand new 15-year triple-net lease. The landlord will be responsible for the roof & structure as well as the HVAC system for the first five years of the lease. O’Reilly’s will see a 6% increase in rent on year 11 as well as the four, 5-year options. O’Reilly Auto Parts benefits from a substantial built-in customer base with a population of 125,000+ & 51,000+ households in a 10-mile radius, as well as an average household income of $68,479. Strategically located, O’Reilly Auto Parts is being constructed on the cities major thoroughfare surrounded by national retailers such as Dollar General, Sonic, Waffle House, Advance Auto Parts, Publix Market, Winn Dixie, Wells Fargo, Burger King, Dunkin’ Donuts, and McDonald's. O’Reilly Auto Parts is the dominant auto parts retailer in all of its market areas. From their roots as a single store in 1957 to their current size of 5,592 stores in 47 U.S. states and 21 ORMA stores in Mexico (and growing), O’Reilly Auto Parts has come a long way. O’Reilly Automotive intends to be the dominant supplier of auto parts in our market areas by offering its retail customers, professional installers, and jobbers the best combination of price and quality provided with the highest possible service level. In order to accomplish this mission, O’Reilly will provide a benefit and compensation plan that will attract and keep the kind of people that will enable the Company to reach its goals of growth and success.

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    License(s): FL: BK3154667

    Florida

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