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O’Reilly Auto Parts 1204 Federal Rd 8,256 SF Retail Building Houston, TX 77015 $2,667,000 ($323.04/SF) 5.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Brand-new 1 5-year absolute net lease extension in tax-free state
- Corporate lease backed by investment grade tenant
- Longstanding operating history – 36 years at this location
- 9% rental increases every 5 years providing a hedge against inflation
- Replaceable rent – $16/SF
- Top 15% O’Reilly location nationwide in terms of annual visits (per Placer.ai)
EXECUTIVE SUMMARY
A corporate O’Reilly lease with a brand-new 15-year term featuring 9% rental increases every 5 years and an absolute net lease structure requiring zero landlord maintenance or expense obligations. Tenant has been operating at this location for 36 years and is ranked in the top 15% of O’Reilly locations nationwide in terms of annual visits (per Placer.ai).
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
8,256 SF
Building Class
C
Year Built
1988
Price
$2,667,000
Price Per SF
$323.04
Cap Rate
5.25%
NOI
$140,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
0.86 AC
Walk Score®
Very Walkable (78)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 0690390000111 | Improvements Assessment | $750,589 |
| Land Assessment | $224,328 | Total Assessment | $974,917 |
PROPERTY TAXES
Parcel Number
0690390000111
Land Assessment
$224,328
Improvements Assessment
$750,589
Total Assessment
$974,917
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O’Reilly Auto Parts | 1204 Federal Rd
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