Florida O’Reilly Auto Parts | 47k Vehicles Per Day | Strong Intrinsic Value

3201 Capital Cir NE, Tallahassee, FL 32308, USA
$2,070,500

Description

Marcus & Millichap is pleased to present for sale this net leased O’Reilly Auto Parts located in Tallahassee, Florida. O’Reilly Automotive Stores Inc. signed a new fifteen year lease in November of 2014 with structured rent increases every five years during the base term and into the options. The property consists of a 8,241square-foot, freestanding building that sits on approximately 1.11 Acres of land.
This O’Reilly is situated directly across the street from a Home Depot, PetSmart and Bealls Anchored Power Center. This property has excellent access and visibility on Capital Circle which has traffic counts exceeding 47,000 Vehicles Per Day. Surrounding Retailers include McDonald’s, Steak N Shake, Outback Steakhouse, Chick Fil A, Zaxby’s, Office Depot, Chipotle, The Home Depot, PetSmart and Bealls.
O’Reilly Automotive, Inc. is a publicly traded company headquartered in Springfield, Missouri. Starting with just one store and 13 employees, O’Reilly Auto Parts sales totaled $700,000 in 1958, their first full year of business. In 2018, the company reported sales of $9.536 billion and has a Standard & Poor’s BBB (investment grade) credit rating.

  • Corporate Guarantee from O’Reilly Auto Parts | 5,200+ Stores | Standard & Poor’s BBB (Investment Grade) Rating
  • More than 9 Years Remain on the NN Lease with structured increases in rent every 5 years
  • Brand New Roof Installed in 2014
  • Billboard on Site | Current Term Expires 2026 | Rent Escalation in 2020
  • Situated half a mile from the Capital Circle Exit off of Interstate 10, across the street from a Home Depot, Petsmart and Bealls Anchored Power Center
  • Excellent Access and Visibility to more than 47,000 Vehicles Per Day
  • Tallahassee is the State Capital and 7th Largest City in Florida
  • Affluent Demographics: Average Household Income Exceeds $88,000 in a three miles radius
  • Surrounded by numerous national retailers including McDonald’s, Steak N Shake, Outback Steakhouse, Chick Fil A, Zaxby’s, Office Depot, Chipotle, The Home Depot, PetSmart and Bealls

Property Documents

  • City: Tallahassee
  • State/county: Florida
  • Zip/Postal Code: 32308
  • Country: United States

Detail

  • Price: $2,070,500
  • Year Built: 1985

Additional details

  • CAP RATE: 5.85%
  • NOI: $121,120

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