new construction :: 20-year lease
O'REILLY AUTO PARTS
MIAMI, FLORIDA
pricing
PRICE: $2,686,000
NOI: $141,004
CAP: 5.25%
investment
highlights
  • Tenant: O’Reilly Automotive (NASDAQ: ORLY, S&P: BBB+), a Fortune 500 company, sells aftermarket parts, automotive tools, professional service equipment, and accessories through more than 4,571 stores in 44 states. As of June 2017, O’Reilly produced TTM revenues of $8.65 billion while net income exceeded $1.047 billion in the same period.
  • Long-Term Lease with Rent Increases: New 20-year net lease with 6% rent increases in Year 11 and 16 as well as the option periods.
  • New Build-to-Suit Construction: The property is currently under construction and is expected to deliver in October 2017.
  • Strategic Location: Situated adjacent to Walgreens, and the other three corners of the intersection are occupied by AutoZone, 7-Eleven and a Bank of America which is an outparcel to a Publix-anchored shopping center.
  • Excellent Access/Visibility: Located just north of the signalized intersection of Burr Road and SW 200th Street (Combined Traffic Count: 17,600 VPD), a major east-west artery connecting several South Miami neighborhoods that also provides direct access to the Ronald Reagan Turnpike (Traffic Count: 137,000 VPD) 2 miles east of the site.
  • Dominant Retail & Commercial Corridor: 4.3 MSF of retail, 3.1 MSF of industrial space, and 6,953 multifamily housing units within a 3-mile radius. 
  • Strong Demographics:  Located just 20 miles south of Miami’s CBD, traffic to the area is bolstered by the area’s infill demographic profile with a population and average household income of 105,928 and $68,455, respectively.
  • Miami MSA Advantage: Miami, the fourth-largest urban area in the nation (Population: 6.06 million), is internationally known as a major center for finance, commerce, culture, media, entertainment, the arts and international trade.
CONTACT
US
WILL PIKE
Managing Director
+1 404 923 1381
will.pike@cbre.com 

MARK DRAZEK
CBRE FL Licensee
mark.drazek@cbre.com
BRIAN PFOHL
Capital Markets Manager
+1 404 504 7893
brian.pfohl@cbre.com

CHRIS BOSWORTH
Managing Director
+1 404 923 1486
chris.bosworth@cbre.com
 
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