Clawson, MI - O'Reilly Auto Parts

1015 W 14 Mile Road, Clawson, MI

$2,295,000

Price

6.75%

Cap Rate

$154,880

NOI

Overview
Cap Rate
6.75%
NOI
$154,880
Building Size
8,000 sqft
Occupancy
100%
Year Built
2008
Description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in an absolute NNN leased, freestanding, investment grade (S&P: BBB), corporate guaranteed, O’Reilly Auto Parts investment property located in Clawson, MI (Detroit MSA). The tenant, O’Reilly Automotive, Inc., has more than 3 years remaining in their initial term with 2 (5-year) option periods to extend. The lease features 10% rental increases at the beginning of each option period. The lease is corporate guaranteed and is NNN leased with landlord responsibilities limited to roof and structure, making it an ideal, low-management investment opportunity for a passive investor.


O’Reilly Auto Parts is strategically located on W. 14th Mile Road, averaging 24,000 vehicles passing by daily. The asset is ideally positioned within a 2 mile radius from Woodward Avenue (63,800 VPD) and Interstate 75 (154,400 VPD), which connect downtown Detroit to the northwestern suburbs. O’Reilly Auto Parts is a junior anchor in Clawson Shopping Center (130,000 SF), anchored by Staples, Rite Aid, and Dollar Tree, thereby benefitting from crossover traffic. Additionally, the site sits 2 miles south of the Somerset Collection (1.44M SF), a well performing, luxury mall anchored by Saks Fifth Avenue, Macy’s, Nordstrom, and Neiman Marcus. Other nearby national/credit tenants including a 24-hour Walmart Supercenter, Costco, Target, The Home Depot, Whole Foods, Lowe’s Home Improvement, and more, further increasing consumer draw to the trade area. The site is within immediate proximity to affluent neighborhoods, including Birmingham, Troy, and Royal Oak, providing a strong customer base to draw from. The 5-mile trade area is supported by a dense population of over 297,000 residents and features an average household income of $108,594.


Location
Gallery