O’Reilly Auto Parts
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CAP RATE
SQUARE FOOTAGE
LEASE TERM

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Frank Rogers

Senior Advisor

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PROPERTY ADDRESS

4149 Taylor Blvd., Louisville, KY 40215

PROPERTY INFORMATION

Price:
$1,745,450
Cap Rate:
5.50%
Term Remaining:
20 Years
Year Built:
2017
Status:
Available

INVESTMENT HIGHLIGHTS

  • Class A Built-to-Suit Construction for National Tenant
  • Equipped with (3) Additional Five Year Options w/ Increases
  • Corporately Guaranteed by O’Reilly Auto Parts, Inc... | S&P “BBB”
  • NN+ Lease Terms Require Very Minimal Landlord Responsibilities
  • 6.0% Rent Increase in Year 11

INVESTMENT SUMMARY

Fortis Net Lease is proud to present a brand new free standing O’Reilly Auto Parts located in Louisville, KY off of Taylor Boulevard. O’Reilly Auto signed a brand new 20 year primary term with a 6.0% rent increase in year 11. This a class A built-to-suit constructed building for the investment grade tenant which is set to deliver in the first quarter of 2017. The lease is double net in nature, which leaves the landlord responsible for the roof & structure, and parking lot of the property. The lease is also equipped with three additional (5) year option periods, each of which present 6.0% rent bumps. Additionally, the lease is corporately guaranteed by O’Reilly Auto Parts, Inc., an investment grade national tenant., who’s S&P credit rating is “BBB.”

The subject property is located along a major thoroughfare leading into downtown Louisville, which boasts an average daily traffic count of 22,000 VPD at the subject property’s egress/ingress. The average household income within 5 miles of the property is over $46,000, and the population within 5 miles if over 233,000. This demographic make-up is perfect for the tenant ORLY. The subject property sits just south of one of the city’s most historic venues in Churchill Downs, which is host to the Kentucky Derby.