O’Reilly Auto Parts | 10+ Years Remaining on Lease

932 N Germantown Pkwy, Cordova, TN 38018, USA
$1,912,000

Description

Marcus & Millichap is pleased to present for sale this net leased O’Reilly Auto Parts located in Cordova, Tennessee. O’Reilly Automotive Stores Inc. signed a new fifteen year lease in May of 2015 with structured rent increases every five years during the base term and into the options. The property consists of a 9,106 square-foot, freestanding building that sits on approximately .86 Acres of land.
The property has excellent access and visibility on Germantown Parkway which has traffic counts exceeding 54,000 Vehicles Per Day. Surrounding Retailers include Express Oil Changers, Taco bell, Walmart Supercenter, Walgreens, Starbucks, IHOP, CVS, Wendy’s, Dunkin Donuts, Chipotle, Kroger and many more.
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 10 Years Remain on the NN Lease with structured increases in rent every 5 years
  • Excellent Access and Visibility to more than 53,000 Vehicles Per Day
  • Cordova, Tennessee is a short 30 Minute Drive from Downtown Memphis
  • Affluent and Dense Demographics: Average Household Income Exceeds $95,000 In a Five Mile Radius
  • Surrounded by numerous national retailers including Express Oil Changers, Taco bell, Walmart Supercenter, Walgreens, Starbucks, IHOP, CVS, Wendy’s, Dunkin Donuts, Chipotle, Kroger and many more

Property Documents

  • City: Cordova
  • State/county: Tennessee
  • Zip/Postal Code: 38018
  • Country: United States

Detail

  • Price: $1,912,000

Additional details

  • CAP RATE: 5.85%
  • NOI: $111,846

Features