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Napa Auto Parts 300 Progress Dr 7,898 SF Retail Building Oregon, IL 61061 $1,428,848 ($180.91/SF) 6.25% Cap Rate
Investment Highlights
- The subject property features an Absolute NNN lease with the tenant responsible for all taxes, insurance and maintenance obligations
- Napa has historically operated below a 5% rent-to-sales ratio, further demonstrating this as a high-ranking location
- Due to the rising cost of construction, the lease and overall value of the property is significantly below the cost to redevelop
- Per Alphamap’s brand ranking report, this location performs in the 83 rd percentile nationally (961 of 5,754 locations)
- The original 20-year lease features 5% rental increases throughout the base term and starting in each of the four, 5-year option periods
- Napa is the only Auto Parts retail in Oregon, IL with the next closest Auto Parts retailer over 12 miles away
Executive Summary
Broker of Record
Name
Matthew M. Fitzgerald
Company
Matthews Real Estate Investment Services, Inc
Firm & License
License # 478027547, 471021676 (IL)
Address
600 W Fulton, Ste 100 Chicago, IL 60661
Phone
(866) 889-0550
Name
Matthew M. Fitzgerald
Company
Matthews Real Estate Investment Services, Inc
Firm & License
License # 478027547, 471021676 (IL)
Address
600 W Fulton, Ste 100 Chicago, IL 60661
Phone
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
7,898 SF
Building Class
C
Year Built
2014
Price
$1,428,848
Price Per SF
$180.91
Cap Rate
6.25%
NOI
$89,303
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
1.00 AC
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
NAPA Auto Parts began in 1925 when independent auto parts sellers formed a cooperative to improve distribution. The company became a division of Genuine Parts Company in 2012. NAPA offers automotive replacement parts, accessories, and service items across North America. Their product lines include batteries, brakes, filters, engine components, and tools. While many stores operate independently, NAPA maintains a large distribution network. The brand continues expanding its market presence through strategic acquisitions.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Somewhat walkable
20/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 16-02-153-004 | Improvements Assessment | $458,597 |
| Land Assessment | $13,066 | Total Assessment | $471,663 |
Property Taxes
Parcel Number
16-02-153-004
Land Assessment
$13,066
Improvements Assessment
$458,597
Total Assessment
$471,663
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Napa Auto Parts | 300 Progress Dr
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