O’Reilly Auto Parts | 16+ Years Remaining on Lease

7190 W University Blvd, Odessa, TX 79764, USA
$1,974,903

Description

Marcus & Millichap is pleased to present for sale this Fee Simple O’Reilly Auto Parts located at 7190 West University Boulevard in Odessa, Texas. The subject property consists of a free-standing building comprised of 7,350 square feet of retail space and is situated on a .77 acre parcel of land.
Strategically located at the hard-signalized intersection of North Redondo Avenue and West University Boulevard, the property benefits from great access and visibility. The immediate trade area is home to a number of National and Regional retailers including Family Dollar, Dollar General, Sonic, Stripes, Little Caesars Pizza, Domino’s, 7-Eleven, H-E-B, CVS, and numerous others.
This built to suit O’Reilly Auto Parts was constructed in 2017 and originally provided a 20 Year lease. Currently there are over 16 years remaining in the initial term with structured rent increases and Four Options to extend for Five Years each.
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 16 Years Remain on the NN Lease with Structured Increases
  • 2017 Construction
  • Excellent Access and Visibility
  • Hard Signalized Intersection Location
  • Strong Demographics: Over 56,000 Full Time Residents in the Immediate Trade Area
  • Texas is a No Income Tax Free State

Property Documents

  • City: Odessa
  • State/county: Texas
  • Zip/Postal Code: 79764
  • Country: United States

Detail

  • Price: $1,974,903
  • Year Built: 2017

Additional details

  • CAP RATE: 5.25%
  • NOI: $103,682

Features