Food-Rite | O’Reilly Auto Parts

Price: $1,651,000
Sq. Ft.: 27,360
Cap Rate: 7.21%
Built: 2015
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  • Priced at $60 Per Square Foot | Well Below Replacement Cost
  • 27,360-Square-Foot, Two-Tenant, Grocery-Anchored Retail Center
  • Food-Rite Occupies 74% of the Gross Leasable Area | NNN Lease | Long-Term Tenant in the Center for 45+ Years | Current Term has more than 14 Years Remaining and Includes 2% Annual Increases O‚ÄôReilly Auto Parts Occupies 26% of the Gross Leasable Area | Ground Lease with Tenant Paying Landlord Directly for its Proportional Share of Expenses | Tenant is a Publicly Traded Company (NASDAQ: ORLY) | Lease Includes 10 Five-Year Options for Renewal 5% Rent Increases at the Beginning of Each Option Period | 18 Years Remaining on the Primary Term
  • Comprised of Two Buildings Situated on 2.455 Acres with a Large Parking Lot
  • Located at the Signalized, Hard Corner of South Marsalis Avenue and East Illinois Avenue
  • Cumulative Traffic Counts are 44,334 Vehicles per Day | Easily Accessible from Multiple Ingress and Egress Points
  • Less than One Mile East of the Intersection with Interstate 35 | Dense Retail Trade Area Featuring Numerous National and Regional Retailers
  • Extremely Dense Surrounding Area | Population Exceeds 305,260 Residents within a Five-Mile Radius