O'Reilly Auto Parts - Detroit, MI (Mexicantown)
High-Performing O'Reilly Location
Marketing description
Constructed in 2003 for Murray's Auto Parts, this high-performing O'Reilly Auto Parts store has over four (4) years remaining on its current lease term. O'Reilly purchased the Murray's brand and continues to operate successfully from this freestanding location within a very densely populated trade area. According to Placer.ai, this unit is in the top quartile nationally and it falls within the top 84th percentile within Michigan. The lease is equipped with rental rate increases in each of the three remaining option periods. The lease is double-net (NN) in structure whereas the Landlord's responsibilities are limited to the roof, structure, outer walls, and utility service lines. O'Reilly Auto Parts has over 6600 stores in the United States, Canada, and Mexico.
This single tenant investment is being offered for sale at $2,104,000 (6.85% Capitalization Rate)
Investment highlights
- Net Lease Investment - Double Net (NN) structure
- Over four (4) years remaining on the current lease term
- Three (3) remaining five (5) year renewal options
- Rental rate increases in each of the three remaining option periods
- 100% occupied - O'Reilly Auto Parts (S&P: BBB)
- Top quartile nationally per Placer.ai; top 84th percentile within Michigan
- O'Reilly Auto Parts has over 6,600 stores in the United States, Canada, and Mexico
- Publicly traded tenant with $17.8B revenue (FY25) and 90,000+ employees
- Freestanding location within a very densely populated trade area (Mexicantown, Southwest Detroit)
- Fee Simple ownership
- Tenant is responsible for direct payment of real estate taxes, insurance, and exterior maintenance
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