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6464 GA-42Rex, GA 30273
O'Reilly Auto Parts
Asset ClassRetail
Deal Size$2.1 M
Cap Rate: 5.8%Retail SF: 7,225Year Built: 2019Access Data Room
Long Term Net Leased Investment Property | Atlanta MSA
overview of deal

Overview

Initial Lease Term: 15 Years

Rent Commencement: 11/16/2020

Expiration Date: 11/30/2035

Lease Term Remaining: 11 Years

Lease Type: Double Net (NN)

Roof & Structure: Landlord

Options: 4 x 5-Year

Increases: 6% Every 5 Years

Lease Guarantor: Corporate

 

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Investment Highlights

LONG-TERM NET LEASED INVESTMENT PROPERTY

  • O’Reilly Auto Parts occupies the property on a double-net (NN) lease which commenced on November 16, 2020 and expires on November 30, 2035. The lease includes a 6% rent increase on December 1, 2030, and at each of the four five-year options to renew.

STRONG CORPORATE GUARANTY WITH EXCELLENT FINANCIAL RESULTS

  • Investment Grade Guarantee (S&P BBB) from publicly traded O’Reilly Auto Parts (NASDAQ: ORLY); $59+/- billion market capitalization. O’Reilly has over 6,200 locations 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.

DENSE DEMOGRAPHICS

  • Within a 5-mile radius, this site features a population of 134,161, 50,497 households, and a $76,012 average household income (AHHI). The 5-mile 2028 population projection is forecasted at 138,312, a 3% increase over the next 5 years.

STRATEGIC LOCATION IN REX

  • The property is ideally located just off I-675 and has direct frontage on Hwy 42, a vital corridor for transportation and communities throughout the Atlanta MSA. The site provides excellent visibility and ease of access catering to vehicles on Hwy 42. For car shops and service properties, this O’Reilly Auto Parts ranks in the 78th percentile nationwide, 77th percentile in Georgia, and 79th percentile within a 10-mile radius.

PROXIMITY TO TOP PERFORMING GROCERY-ANCHORED SHOPPING CENTER

  • The property is located across the street from a Food Depot grocery-anchored shopping center. The Food Depot ranks in the 83rd percentile in chain rankings nationwide, 83rd percentile in chain rankings in Georgia, and 100th percentile in chain rankings within a 10-mile radius.
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6464 GA-42Rex, GA 30273
Food Depot
Downtown Atlanta

Sales Team

Drew IsaacSenior Managing Director Investments(303) 328-2048drew.isaac@marcusmillichap.com
John LeonardGA Broker of Record

License #: 252904

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Listing provided by Revere CRE