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Shopping Strip

Dollar Tree & O'Reilly Auto Parts

1160 w main st, livingston, TN 38570

Listing Price: $1,866,667

Cap Rate
5.10%
Gross SF
18,688
Rentable SF
18,688
Price/Gross SF
$99.89
Lot Size
1.10 acres
Year Built
1980

Investment Overview

Marcus & Millichap is pleased to present the exclusive offering of an OReilly Auto Parts (ORLY:NASDAQ) and Dollar Tree (DLTR:NASDAQ)
two investment grade tenants in a two tenant offering located in Livingston, TN. The property consists of 18,688 SF of improvements
sitting on an approximate 1 acre parcel. The real estate is well located on Main Street adjacent to a high performing Arbys. Main Street is
the major artery through the town of Livingston with an average daily traffic count of 28,225 VPD. Dollar Tree corporate has just signed a
new 7-year lease and is currently performing their build out (anticipating finish in October). OReilly Auto Parts has been at this location
since 2004 and has proven to be a busy and a very successful store in their system.
Currently the OReilly Auto Parts lease rate is .26 cents per foot/ $3.12 annually representing major rental upside in the future.
Future rent growth with OReilly Auto Parts represents a conservative 384% upside ($1.00 per foot) considering new lease rates today
are averaging $1.33 psf (see graph page #13). This creates a value-add component with the stability of investment grade tenants.
Additionally, the offering is below replacement costs at $99 PSF. Both Dollar Tree and OReilly Auto Parts continue to perform well in their
respective businesses and represent true internet resistance as evidence by their strong performance through the pandemic. Notable
retailers in the immediate trade area include Arbys Advance Auto Parts, Raceway, McDonalds, Hardees, KFC, Sonic, First National Bank,
Walgreens, Pizza Hut, Taco Bell, Dollar General Market and more. Arbys located adjacent the property has recently extended their lease,
remodeled the store, and has much higher store sales than the national average.

Investment Highlights

  • OReilly Auto Parts (ORLY: NASDAQ) and Dollar Tree (DLTR: NASDAQ)
  • Two Tenant Investment Grade Offering BAA1 and BAA2 Moodys
  • Corporate Guarantees
  • Major Rental Upside 384% - OReilly Auto Parts
  • Dollar Tree- Brand New Lease and Store Renovation 2021
  • $99 PPSF- Below Replacement Cost

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2860

    License(s) TN: 307629

    Tennessee

Financing By

Shopping Strip

Dollar Tree & O'Reilly Auto Parts

Listing Price: $1,866,667

Cap Rate
5.10%
Gross SF
18,688
Rentable SF
18,688
Price/Gross SF
$99.89
Lot Size
1.10 acres
Year Built
1980

Investment Highlights

  • OReilly Auto Parts (ORLY: NASDAQ) and Dollar Tree (DLTR: NASDAQ)
  • Two Tenant Investment Grade Offering BAA1 and BAA2 Moodys
  • Corporate Guarantees
  • Major Rental Upside 384% - OReilly Auto Parts
  • Dollar Tree- Brand New Lease and Store Renovation 2021
  • $99 PPSF- Below Replacement Cost

Investment Overview

Marcus & Millichap is pleased to present the exclusive offering of an OReilly Auto Parts (ORLY:NASDAQ) and Dollar Tree (DLTR:NASDAQ)
two investment grade tenants in a two tenant offering located in Livingston, TN. The property consists of 18,688 SF of improvements
sitting on an approximate 1 acre parcel. The real estate is well located on Main Street adjacent to a high performing Arbys. Main Street is
the major artery through the town of Livingston with an average daily traffic count of 28,225 VPD. Dollar Tree corporate has just signed a
new 7-year lease and is currently performing their build out (anticipating finish in October). OReilly Auto Parts has been at this location
since 2004 and has proven to be a busy and a very successful store in their system.
Currently the OReilly Auto Parts lease rate is .26 cents per foot/ $3.12 annually representing major rental upside in the future.
Future rent growth with OReilly Auto Parts represents a conservative 384% upside ($1.00 per foot) considering new lease rates today
are averaging $1.33 psf (see graph page #13). This creates a value-add component with the stability of investment grade tenants.
Additionally, the offering is below replacement costs at $99 PSF. Both Dollar Tree and OReilly Auto Parts continue to perform well in their
respective businesses and represent true internet resistance as evidence by their strong performance through the pandemic. Notable
retailers in the immediate trade area include Arbys Advance Auto Parts, Raceway, McDonalds, Hardees, KFC, Sonic, First National Bank,
Walgreens, Pizza Hut, Taco Bell, Dollar General Market and more. Arbys located adjacent the property has recently extended their lease,
remodeled the store, and has much higher store sales than the national average.

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2860

    License(s): TN: 307629

    Tennessee

Financing By

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