Munford, TN - O'Reilly Auto Parts

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a freestanding, investment grade
(S&P: BBB), corporate guaranteed (NASDAQ: ORLY) O’Reilly Auto Parts investment property located in Munford, Tennessee. The tenant, O’Reilly Automotive Stores, Inc., has over 11-years remaining on its lease with 4 (5-year) options to extend. The lease features 6% rental increases every 5-years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NNN with limited landlord responsibilities making it an ideal, low-management 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, supplies, equipment, and accessories, with over 6,200 locations.

O’Reilly Auto Parts is strategically positioned near the signalized, hard corner intersection of U.S. Highway 51 and State Highway 206, averaging a combined 30,200 vehicles passing daily. The asset benefits from excellent visibility and significant street-facing signage along U.S. Highway 51, the primary retail thoroughfare serving the city of Munford. The thoroughfare provides direct access to the site from downtown Memphis, one of the largest cities in the southeastern United States, with over 600,000 residents. The site’s proximity to Memphis, and access to its surrounding metropolitan area, provides a dense, affluent consumer base from which to draw. Furthermore, the subject property benefits from crossover retail exposure derived from other retailers in the immediate area including Kroger, Walgreens, Take 5 Car Wash, McDonald’s, and Taco Bell. The 5-mile trade area is supported by a population of over 28,900 residents and 3,700 employees with an average household income of $104,431.