O’Reilly Auto Parts

Highlights:

• OVERSIZED LOT: Over 1.58 acres, which allows for an owner to parcel off from ORLY for future development or sell off as an additional parcel. Currently, ORLY covers all costs associated with the large lot.
• INVESTMENT GRADE CREDIT: The Lease is Corporately Guaranteed by O’Reilly Auto Parts, which holds an Investment Grade BBB by Standard and Poor’s and Baa1 by Moodys.
• NEW CONSTRUCTION: The property was constructed as a BTS for O’Reilly’s in 2020. Upgrade construction includes a Brick and stucco facade along all four walls, a concrete parking lot, and upgraded architectural lighting features. The roof comes with a 25-year warranty.
• RENTAL INCREASES: The lease allows for a 6% increase in year 11 and 6% in subsequent option periods.
• MAIN RETAIL THOROUGHFARE: The property is located on Tryon Street, which is the MAIN retail thoroughfare running through Charlotte. Over 35,000 cars pass by the site daily,
• AREA TENANCY: The property is located next to Whitehall Commons, which tenants include Publix, Lowes, Walmart, Panera Bread, Chick-Fil-A, McDonald’s, Chilis, Arby’s, 7-Eleven, The UPS Store and others. The property is located next to the Microsoft Charlotte Headquarters, FBI Charlotte Headquarters, and Maersk.

Description:

RDO Investments is pleased to present 7532 South Tryon Street, a 7,684-square-foot freestanding O’Reilly Auto Parts located in the heart of Charlotte, North Carolina. This O’Reilly Auto Parts in Charlotte provides the rare opportunity to acquire a recently constructed, fee simple interest in a class “A” O’Reilly Auto Parts retail location.

The building was constructed in 2020 and features an oversized 1.58-acre lot, which allows for future development or expansion. The property has an upgraded brick and stucco construction and upgraded architectural lighting fixtures. The site is off of Tryon Street, the main retail thoroughfare running throughout Charlotte. There are over 35,500 vehicles that pass in front of the site each day. Interstate 485 is located just south of the site, with an estimated 112,000 vehicles per day. The property has excellent visibility from Tryon Street and has a direct curb cut into the upgraded concrete parking lot. Located inside the Beltway, it is in the center of the area’s retail core, just off Interstate 77 and Interstate 485, and only minutes from uptown Charlotte.

O'Reilly's signed a 15-year NN lease in 2020, which expires in August of 2035. The NN+ lease has the Landlord responsible for Roof (25 Year Transferable Warranty), Structure, and Parking Lot (Concrete) Replacement Only. The original 15-year lease has a 6% rental increase in year 11 and within four, 5-year option periods. Area retailers include Publix, Lowes, Walmart, Chick-fil-A, McDonald's, 7-Eleven, Panera Bread, Walgreens, Chili’s, etc. The property is minutes from the Microsoft Charlotte Campus as well as the Federal Bureau of Investigation (FBI) and Maersk.

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