Carson City, NV - O'Reilly Auto Parts
$3,536,000
1715 N. Carson Road, Carson City, NV 89701
4.75
Cap Rate
167,978
NOI
Details:
Description:
SRS Real Estate Partners-Las Vegas, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, freestanding, investment grade (S&P: BBB), corporate signed, O’Reilly Auto Parts investment property located in Carson City, Nevada. The tenant, O’Reilly Auto Enterprises, LLC, has over 4 years remaining in their initial lease term with 5 (5-year) options to extend. The lease features a 5% increase at the beginning of each option period, growing NOI and hedging against inflation. The lease is signed by the corporate entity (S&P: BBB) and is absolute NNN with zero landlord responsibilities, making this an ideal, management- free investment opportunity for a passive investor. Founded in 1957, O’Reilly Auto Parts is one of the largest specialty retailers of automotive aftermarket parts, tools, equipment, and accessories in the United States.
O’Reilly Auto Parts is strategically located along N. Carson Road, a major commuter thoroughfare averaging 16,800 vehicles passing by daily. The site benefits from excellent visibility and access via a large pylon sign and multiple points of ingress/egress. Additionally, the asset is within close proximity to both a Walmart Supercenter (193,000 SF) and Home Depot (120,000 SF), two primary big-box retailers that significantly increase consumer draw to the immediate trade area and promote crossover store exposure for the site. Other nearby national/credit tenants include Grocery Outlet, CVS Pharmacy, Tractor Supply Co., 7-Eleven, Walgreens, DaVita, and more. Further, the subject property is surrounded by nearby housing communities including Autumn Village Apartments (89 units), Parkway Terraces (176 units), and Sierra Madre Apartments (88 units), providing a direct residential consumer base to draw from. The 5-mile trade area is supported by more than 60,100 residents and 42,700 daytime employees with an annual average household income of $94,661.
Location
Gallery
