O'Reilly Auto Parts 1031 Main St 7,553 SF Retail Building Willimantic, CT 06226 $2,495,000 ($330.33/SF) 5.75% Cap Rate
INVESTMENT HIGHLIGHTS
- CORPORATE O’REILLY AUTO PARTS LOCATION | INVESTMENT GRADE CREDIT S&P: BBB | 6,378 LOCATIONS NATIONWIDE / $17.4-17.7 BILLION IN 2024 REVENUE
- HIGHLY VISIBLE & EASILY ACCESSIBLE LOCATION | HIGH TRAFFIC RETAIL CORRIDOR ALONG ROUTE 66 / MAIN STREET 19,399 VPD
- 0.30 MILES SOUTH OF EASTERN CONNECTICUT STATE UNIVERSITY (3,178 STUDENTS + 400 FACULTY)
- 13.1 YEARS OF FIRM TERM REMAINING | 6.00% RENTAL INCREASES EVERY 5 YEARS STARTING IN YEAR 11 | NN LEASE | MINIMAL LANDLORD RESPONSIBILITIES
- APPROXIMATELY 1 MILE SOUTH OF HWY 6 (21,917 VPD) VIA THE HIGH STREET ON/OFF RAMP
EXECUTIVE SUMMARY
Newmark, as an exclusive advisor, is pleased to present the opportunity to acquire a single-tenant, net leased O’Reilly Auto Parts in Willimantic, CT.
NN Lease Structure
13.1 Years Lease Term Remaining
Fee Simple Ownership Interest
NN Lease Structure
13.1 Years Lease Term Remaining
Fee Simple Ownership Interest
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
7,553 SF
Building Class
B
Year Built
2018
Price
$2,495,000
Price Per SF
$330.33
Cap Rate
5.75%
NOI
$143,463
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
0.80 AC
Zoning
B1A
Parking
31 Spaces (4.1 Spaces per 1,000 SF Leased)
Frontage
380’ on Main Street
AMENITIES
- Air Conditioning
Walk Score®
Very Walkable (85)
Bike Score®
Very Bikeable (71)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | WIND-001203-000031-000012 | Improvements Assessment | $1,047,920 |
| Land Assessment | $89,580 | Total Assessment | $1,137,500 |
