O’Reilly Auto Parts - Garner (Raleigh), NC
O'Reilly Auto Parts - Garner (Raleigh), NC
Marketing description
The offering is a single-tenant O’Reilly Auto Parts store located at 4707 Veterans Parkway (Highway 42) in Garner, North Carolina. This ±7,225 SF retail property sits on a well-positioned parcel with strong frontage and visibility along one of Garner’s key retail corridors. The site offers ample surface parking and was designed to meet O’Reilly’s national standards.
The lease is double-net (NN), with the tenant responsible for taxes, insurance, and maintenance, while the landlord handles structural components. Rent began in October 2017 with a 20-year initial term through October 2037, followed by four (4) five-year renewal options. Garner is part of the Raleigh-Cary MSA, itself part of the larger region known as the Research Triangle.
Investment highlights
Corporate Guarantee: Lease guaranteed by O’Reilly Automotive Stores, Inc., a publicly traded Fortune 500 company (NASDAQ: ORLY) with over 6,000 stores nationwide.
Long-Term Commitment: 20-year initial lease term running through October 2037, with four additional five-year options.
Built-In Rent Growth: Flat rent for first 10 years, followed by 6% increases every 5 years (first increase in 2027) during the remaining term and option periods.
NN Lease Structure: Tenant covers taxes, insurance, and maintenance; landlord is only responsible for structural components.
Modern Prototype Construction: Built in 2017, ±7,225 SF freestanding store with ample surface parking and modern design standards.
Strong Retail Corridor: Located along Veterans Parkway (Highway 42), surrounded by Walmart Supercenter, Food Lion, Lowe’s, and other national retailers.
High-Visibility Site: Excellent frontage along a primary commercial artery with strong daily traffic counts (±18,000 VPD) and easy access to surrounding residential neighborhoods.
Dynamic Market: Garner is a rapidly growing community within the Raleigh–Durham Research Triangle, one of the top U.S. regions for population and employment growth.
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