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Rite Aid & O’Reilly Auto Parts, Martinez, CA

Rite Aid & O’Reilly Auto Parts

Martinez, California 94553

Price $9,619,000
Cap Rate 5.25%
NOI $504,960
Lease Term Various
Lease Type Net, with Tenants Responsible for Pro Rata Share of All Taxes, Insurance, and Maintenance, Excluding Roof and Structure
Rental Increases Various
Year Built 1984
Building Size 29,813 SF
Lot Size 1.1 Acres (48,003 SF)
Status Available
Lead Broker Information Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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

Investment Highlights

100% LEASED TWO-TENANT RETAIL ASSET WITH GREAT REAL ESTATE FUNDAMENTALS
» Fixed rental increases in extension terms, providing a hedge against inflation
» Multi-tenant retail asset allows for investment diversification
» Guaranteed leases for both tenants
» Minimal landlord obligations, ideal for an out-of-area investor
» Complimentary mix of “Amazon-proof” retailers

NET LEASES TO GROWING NATIONAL TENANTS WITH EXCELLENT FINANCIALS
» O’Reilly Auto Parts (NASDAQ: “ORLY”) operates 5,219 stores in 47 states and has annual sales of $9.54 billion
» O’Reilly Auto Parts is rated “BBB” by Standard & Poor’s
» Guaranteed by Rite Aid Corporation, one of the nation’s leading drugstore chains
» Amazon (NASDAQ: “AMZN”) has partnered with Rite Aid to provide staffed Amazon package pickup services (Amazon Counter) at Rite Aid locations

HIGH-TRAFFIC LOCATION IN DENSELY POPULATED BAY AREA
» Corner parcel location at the signalized four-way intersection of Morello Avenue and Arnold Drive with a combined 24,120 AADT
» 161,325 residents within a five-mile radius, creating an ample customer base
» Convenient access to Interstate 680 and John Muir Parkway (combined 234,200 AADT), increasing traffic to the site
» $121,872 average household income within one mile of the property

NEAR LARGE SCHOOLS, RETAILERS, AND COMMUNITY HUBS
» Convenient access to Kaiser Permanente – Martinez (204 beds, 868 employees) and VA Medical Center (120 beds, 1,093 employees)
» Four miles from Diablo Valley College (22,000 students, 670 employees)
» Surrounded by a strong mix of national retailers, including McDonald’s, Taco Bell, Carl’s Jr, The Home Depot, Starbucks, and many more
» Within five miles of seven major shopping centers (combined 3.2 million SF of retail space, 377 stores)
» Central location between Contra Costa Regional Medical Center, Shell Oil Refinery, Contra Costa County, and Dow Chemical Company (combined 12,665 employees)



Property Description

The property is strategically located on the corner parcel of the signalized four-way intersection of Morello Avenue and Arnold Drive, with visibility and access to 24,120 vehicles per day on both access roads. The site resides in a densely populated and affluent area, with 161,325 residents living within a five-mile radius of the location and an average household income of $121,872 within one mile of the property. The site is also located near Interstate 680 and John Muir Parkway (combined 234,200 AADT), increasing traffic to the site.

The property benefits from the site’s proximity near large schools, retailers, and community hubs. The location has convenient access to Kaiser Permanente Martinez (204 beds, 868 employees) and VA Medical Center (120 beds, 1,093 employees). The site is within five miles of seven major shopping centers (combined 3.2 million SF of retail space, 377 stores) and surrounded by a strong mix of national retailers, including McDonald’s, Taco Bell, Carl’s Jr, The Home Depot, Starbucks, and many more. The property is centrally located between Contra Costa Regional Medical Center, Shell Oil Refinery, Contra Costa County, and Dow Chemical Company (combined 12,665 employees) and four miles from Diablo Valley College, which features 22,000 students and 670 employees.

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