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O’Reilly Auto Parts, Indianapolis, IN

O’Reilly Auto Parts

Price $2,331,000
Cap Rate 5.50%
NOI $128,194
Lease Term 15 years
Lease Type Net, with tenant responsible for taxes, insurance, and maintenance, excluding roof and structure
Rental Increases 6% rental increases in Year 11 and every five (5) years thereafter including Options
Year Built 2019
Building Size 7,225 SF
Lot Size 1.25 acres (54,450 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Investment Highlights

NEW 15-YEAR NET LEASE TO INVESTMENT GRADE TENANT
» 15-year corporate lease to investment grade tenant rated “BBB” by Standard & Poor’s
» O’Reilly Auto Parts (NASDAQ: “ORLY”) operates 5,219 stores in 47 states and has annual sales of $9.54 billion
» New 2019 construction with upgraded exterior

HIGH-TRAFFIC AREA
» Excellent visibility and access to 22,264 vehicles per day directly in front of the property on North Arlington Avenue
» North Arlington Avenue provides convenient access to Interstate 465—Indianapolis’ beltway circling the entirety of the city—which has a high traffic count of 111,790 vehicles per day near the property

CENTRAL LOCATION WITH ROBUST RESIDENTIAL CUSTOMER BASE
» Walking distance from major national and regional retailers like Chase Bank, Family Dollar, CVS, Dollar Tree, Walgreens, Ace Hardware, and more
» Close to several major employers, including Raytheon Company (1,250 employees) and Community Hospital East (5,000 employees and 305 beds), which is ranked 2nd Best Hospital in Indianapolis
» Surrounded by dense residential neighborhoods, providing a large customer base with 247,979 people within five miles
» Minutes from multiple community parks, golf courses, and other recreational areas
» 92 percent of Indianapolis residents commute by car – well above the national average

STRONG INDIANAPOLIS/MARION COUNTY MARKET
» Indianapolis is home to the Indianapolis Motor Speedway which occupies 560 acres on the west side of the City. Every May, hundreds of thousands of people show up to watch the largest-attended sporting event in the U.S., the Indianapolis 500
» Indianapolis International Airport (IND) serves approximately 8.5 million passengers per year and is one of the top 50 U.S. airports for passenger traffic
» Visitor spending in Marion County for 2017 totaled nearly $5.4 billion, the seventh straight year of record growth
» A record-setting 80 million visitors traveled to Indiana in 2017



Property Description

The property is located at the hard corner of East 12th Street and North Arlington Avenue, with excellent visibility and access to 22,264 vehicles per day directly in front of the property on North Arlington Avenue. North Arlington Avenue provides convenient access to Interstate 465—Indianapolis’ beltway circling the entirety of the city—which has a high traffic count of 111,790 vehicles per day near the property. North Arlington Avenue serves as a dense retail corridor, and the property is walking distance from several major national and regional retailers, including Chase Bank, Family Dollar, CVS, Dollar Tree, Walgreens, Ace Hardware, and more.

The property is centrally located and benefits from a robust residential and industrial customer base. Many major local employers are located within a few blocks, including Raytheon Company (1,250 employees) and Community Hospital East (5,000 employees and 305 beds), which is ranked the 2nd best hospital in Indianapolis. The property is also minutes from multiple community parks, golf courses, and other recreational areas. Additionally, the property is surrounded by dense residential neighborhoods, providing a large customer base of 247,979 people within five (5) miles.

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