806 West View Park Dr
Pittsburgh, PA 15229
Brand New 20 Year NNN O'Reilly - S&P BBB+ · Retail Property For Sale

The Cooper Commercial Investment Group has been exclusively retained by ownership to sell the 100% fee simple interest in the brand-new, single-tenant O’Reilly Auto Parts location in the desirable community of West View, a suburb just north of Pittsburgh (5 miles), Pennsylvania. The property is being offered for $2,100,000, representing a 5.19% CAP Rate, and was just built to accommodate O’Reilly Auto Parts, who hand-picked this particular location for its robust expansion in Western Pennsylvania. O’Reilly’s is the leading automotive parts provider with over 5,300 stores in 47 states, and their continued growth can be evidenced by their $8.98 billion in annual revenue and a market cap of over $30 billion. O’Reilly’s lease commenced 1/2/2019 on a 20-year NNN structure with a mid-term rental increase. The lease also offers 6% rental increases in each option period, and O’Reilly handles all on-site maintenance leaving ownership with no daily management responsibilities. Furthermore, the property comes with a 25-year transferable roof warranty. The asset is positioned on a main retail roadway surrounded by other high-traffic generating retailers, Dunkin’, Wendy’s, Taco Bell, KFC, First National Bank and Subway. West View Park Drive is also the route to West View Park Shopping Center, which anchors Giant Eagle Grocery further enhancing traffic flow in front of the featured property. The retail corridor is positioned just off Route 19 with traffic counts of 32,000 VPD and sits just north of I-279, a direct route to Downtown Pittsburgh. The center is surrounded by an economically strong residential community with average household incomes of over $83,500 within a 1-mile radius and a whopping population of 195,000 residents within 5 miles. The Pittsburgh region is also rich with major employers. The largest employer in the city is the University of Pittsburgh Medical Center, with 48,000 employees. All hospitals, outpatient clinics, and doctor's office positions combine for 116,000 jobs, approximately 10% of the jobs in the region. Google, Apple Inc., Bosch, Facebook, Uber, Nokia, Autodesk, Microsoft and IBM are among 1,600 technology firms generating $20.7 billion in annual Pittsburgh payrolls. A number of Fortune 500 companies are also located in Pittsburgh and include, PNC Financial Services, PPG Industries, U.S. Steel, The Kraft Heinz Company, WESCO International, and Dick's Sporting Goods. Additionally, six of the top 300 U.S. law firms make their global headquarters in the area, while RAND, BNY Mellon, Nova, FedEx, Bayer and NIOSH have regional bases that have helped Pittsburgh become the sixth-best area for U.S. job growth according to the Pittsburgh Post-Gazette. Furthermore, the area is home to 68 colleges and universities, including research and development leaders Carnegie Mellon University (14,000 students) and the University of Pittsburgh. In fact, the University of Pittsburgh (29,000 students) is the largest single employer in education with 10,700 employees. If arts and entertainment are your sort of thing, the non-profit arts and cultural industry in Allegheny County generates $341 million in economic activity that supports over 10,000 full-time equivalent jobs. Bundling all of the attributes, this new O’Reilly location provides an investor the opportunity in today’s market to purchase a superior location, quality brand-new construction with excellent visibility and curb appeal, poised to be a quality investment well into the future.