Auto Parts

O'Reilly Auto Parts @ Dallas Bay

Listing Price: $2,036,000

Cap Rate
5.60%
Tenant Name
O'Reilly Auto Parts
Years Remaining On Lease
14.30
Gross SF
7,225
Guarantor
Corporate Guarantee
Rentable SF
7,225
Price/Gross SF
$281.80
Lease Type
Double Net
Rent Per Square Feet
$15.78

Investment Overview

The subject property is brand new O’Reilly Auto Parts located in Lakesite, Tennessee, a thriving suburb of Chattanooga, Tennessee. O’Reilly benefits from the good visibility and frontage on Hixson Pike which boasts traffic flow of over 18,000 vehicles per day. Additionally, within the immediate vicinity are CVS, Food City, Arby’s, McDonald’s, Taco Bell and others. The area also boasts a five-mile population of over 51,000. O’Reilly is signed to a 15-year lease that commenced in January 2020. There are scheduled rental increases of six percent at the beginning of lease year 11 and each of the four, five-year renewal options. The lease provides for minimal Landlord responsibilities as tenant is responsible for CAM, taxes and property insurance expenses as well as maintenance, repair and replacement of the HVAC equipment.

Investment Highlights

  • BRAND NEW CONSTRUCTION | FEBRUARY, 2020 OPENING
  • NEW 15-YEAR DOUBLE-NET (NN) LEASE | TENANT PAYS FOR CAM, TAXES, INSURANCE AND HVAC
  • LOCATED ON HIXSON PIKE | 18,000+ VEHICLES PER DAY
  • 5-MILE POPULATION OF 51,000+ | THRIVING SUBURB OF CHATTANOOGA

Exclusively Listed By

  • Robby Pfeiffer

    Senior Vice President Investments

    Email Robby

    License(s): GA: 281335, AL: 000091407-1

    Atlanta

Auto Parts

O'Reilly Auto Parts @ Dallas Bay

Listing Price: $2,036,000

Cap Rate
5.60%
Tenant Name
O'Reilly Auto Parts
Years Remaining On Lease
14.30
Gross SF
7,225
Guarantor
Corporate Guarantee
Rentable SF
7,225
Price/Gross SF
$281.80
Lease Type
Double Net
Rent Per Square Feet
$15.78

Investment Highlights

  • BRAND NEW CONSTRUCTION | FEBRUARY, 2020 OPENING
  • NEW 15-YEAR DOUBLE-NET (NN) LEASE | TENANT PAYS FOR CAM, TAXES, INSURANCE AND HVAC
  • LOCATED ON HIXSON PIKE | 18,000+ VEHICLES PER DAY
  • 5-MILE POPULATION OF 51,000+ | THRIVING SUBURB OF CHATTANOOGA

Investment Overview

The subject property is brand new O’Reilly Auto Parts located in Lakesite, Tennessee, a thriving suburb of Chattanooga, Tennessee. O’Reilly benefits from the good visibility and frontage on Hixson Pike which boasts traffic flow of over 18,000 vehicles per day. Additionally, within the immediate vicinity are CVS, Food City, Arby’s, McDonald’s, Taco Bell and others. The area also boasts a five-mile population of over 51,000. O’Reilly is signed to a 15-year lease that commenced in January 2020. There are scheduled rental increases of six percent at the beginning of lease year 11 and each of the four, five-year renewal options. The lease provides for minimal Landlord responsibilities as tenant is responsible for CAM, taxes and property insurance expenses as well as maintenance, repair and replacement of the HVAC equipment.

Exclusively Listed By

  • Robby Pfeiffer

    Senior Vice President Investments

    Email Robby

    License(s): GA: 281335, AL: 000091407-1

    Atlanta

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