Overview

Description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in NNN leased, O’Reilly Auto Parts investment property located in Plymouth, Wisconsin. The tenant, O’Reilly Automotive Stores, Inc., recently signed a brand new 15 year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 6% rental increases, beginning in year 11, 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 landlord responsibilities limited to the roof and structure, making it an ideal, low-management investment opportunity for a passive investor.

The asset is located near the signalized, hard corner intersection of Eastern Avenue and Pleasant View Road with a combined 14,300 vehicles passing daily. Eastern Avenue is the major retail thoroughfare serving the city of Plymouth, featuring multiple retail centers highlighted by national/credit tenants Walmart Supercenter, Walgreens, and a McDonald’s directly adjacent to the asset. O’Reilly Auto Parts benefits from the concentration of automotive retailers within the immediate area including a Dodge, Jeep, Ram, and Chevrolet dealership, and a Valvoline Instant Oil Change, all within 1-mile of the property. Strong tenant synergy in the area promotes crossover retail exposure to the subject property. The building is recently constructed with excellent visibility and frontage along Eastern Avenue. The property is also easily accessible via on/off ramps from State Highway 57 and State Highway 23 with a combined 34,700 vehicles passing daily. The 5-mile trade area is supported by a population of over 14,100 residents and 11,900 employees with an average household income of $91,932.

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