O’Reilly Auto Parts,
Whitsett, NC Investment Summary
| Price | $2,000,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 15 Years |
| Lease Type | Net, with Tenant Responsible for Taxes, Insurance, and Maintenance, Excluding Roof, Structure, and Exterior |
| Rental Increases | 6% Rental Increases in Year 11 and Every Five (5) Years Thereafter Including Options |
| Year Built | 2020 |
| Building Size | 7,456 SF |
| Lot Size | 1.20 Acres (52,272 SF) |
| Status | Sold |
| Lead Brokers | Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Michael T. Yuras, CCIM Cushman & Wakefield 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
NEW 15-YEAR NET LEASE TO INVESTMENT GRADE TENANT
» 15-year corporate lease to investment grade tenant rated “BBB” by Standard & Poor’s
» O’Reilly Auto Parts (NASDAQ: “ORLY”) operates 5,219 stores in 47 states and has annual sales of $10.15 billion
» New 2020 upgraded full-brick construction to tenant’s latest prototype
HIGH-TRAFFIC AREA ON MAJOR TRANSPORTATION CORRIDOR
» Excellent visibility and access to 24,000 vehicles per day at the intersection of Burlington Road and Rock Creek Dairy Road
» Immediate access to Interstate 40, which experiences 92,000 vehicles per day past the property
» Interstate 40 is a major transportation corridor between Winston-Salem, Greensboro, and Raleigh
CENTRAL LOCATION WITH ROBUST RESIDENTIAL CUSTOMER BASE
» Walking distance from major national and regional retailers like CVS Pharmacy, Goodwill, Food Lion, Circle K, Marathon Gas, McDonald’s, Taco Bell, Zaxby’s and more
» Close to several major employers including American Express, Lenovo, General Dynamics, and others
» Surrounded by affluent residential neighborhoods, with an average household income over $85,000 within a mile of the property
STRONG PIEDMONT TRIAD MARKET
» The Greensboro-Winston-Salem-High Point combined statistical area or “The Piedmont Triad” is a major industrial hub for the southeastern United States
» The Piedmont Triad International Airport is the third busiest airport in North Carolina and is a regional hub for FedEx Express
Property Description
SOLD
The property is located at the corner of Burlington Road and Golf House Road West with excellent access and visibility to 13,000 vehicles per day directly in front of the store. The property is located just off of Interstate 40, which experiences 92,000 vehicles per day. Interstate 40 connects Wilmington, Raleigh, Winston-Salem and many other major cities in North Carolina. The surrounding population is affluent with an average household income over $85,000 within a mile of the store. The property is outparcel to a Food Lion-anchored shopping center with many other retailers in the surrounding area including Circle K, McDonald’s, Marathon Gas, Goodwill, Zaxby’s, Bojangles, Comfort Suites, and many others. The property is centrally located near many of the area’s major employers, including American Express, Lenovo, General Dynamics, Coca Cola Bottling, and many others. The property is also located six miles from the O’Reilly Auto Parts Distribution Center, the only O’Reilly distribution center in the state.
