311 & 309 E COUNTY LINE RD, LITTLETON, CO
OAKBROOK SHOPPING CENTER
311 E County Line Rd, Littleton, CO
O'REILLY AUTO PARTS SUPER HUB STORE
309 E County Line Rd, Littleton, CO
$7,800,000
OFFERING PRICE
7.06%
CAP RATE
$6,545,000
OFFERING PRICE
6.25%
CAP RATE
INVESTMENT HIGHLIGHTS
OAKBROOK SHOPPING CENTER
INVESTMENT HIGHLIGHTS
O'REILLY AUTO PARTS SUPER HUB STORE
- Upside opportunity to increase rents over hold period, current average in-place rents are $18.07/SF
- In centers over 20K SF and built prior to 2000 within a five-mile radius the average asking rent is $25.21/Sf
- Since January of 2023, 17 leases have been executed within a 5-mile radius with an average starting rent of $21.62/SF
- Oakbrook Shopping Center’s roof is in the process of receiving a new EPDM roof membrane inclusive of a 10-year warranty
- 189,450 VPD at the confluence of E County Line Rd, S Broadway, and C-470 all adjacent to the subject property
- Dense and affluent surrounding population, 106,918 people within a three-mile radius, and earn an AHHI of $147,177
- O’Reilly Auto Parts large format (48,125 SF) hub location on new 15-Year lease with 8% rental increases every five-years and four (4) 5-year options
- Investment Grade Guarantee (S&P A+/-) from publicly traded O’Reilly Auto Parts (NASDAQ: ORLY); $63+ billion market capitalization
- O’Reilly has 6,157 locations (Q3 2023) in the United States, Puerto Rico, and Mexico
- O’Reilly achieved record high revenue during FY 2023 of $15.81 Billion, a 9.73%increase over FY 2022
- There are 29 car dealerships within the subject property’s immediate trade area, creating unapparelled demand for auto parts
- Less than a mile northwest of the subject property, a 63-acre redevelopment of former Lumen Technologies campus is underway. The developer currently proposes 370 multi-family units as well as commercial retail space. Costco and other nationally recognized retailers have expressed interest in the site per Colorado Community Media
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