O'Reilly Auto Parts - Iron Mountain, MI

1907 S Stephenson Ave, Iron Mountain, MI, 49801, US

Description

Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to offer the opportunity to acquire the fee simple interest in O’Reilly Auto Parts located at 1907 S Stephenson Ave, Iron Mountain, MI (the "Property" or the “Asset"). O’Reilly Auto Parts operates under a 20-year NN lease with approximately 8.7 years of primary lease term remaining and three five-year renewal options each featuring 6% rental escalations. The property benefits from below-market rental rates, providing future upside for investors.

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Attributes

Building area net

669 m²

Occupancy

100%

Year built

2014

Land area gross

5.35 ha

WAULT

8.7 years

Media

Investment Highlights

Strong tenant credit with market-leading position as one of the largest retailers in the automotive segment
8.7 years of primary lease term remaining with 6% annual rent escalations
Top performing store with proven customer demand
Neighbors Walmart Supercenter that attracts more than 2.2 million annual visits
Ranks as 3rd most visited O'Reilly in a 50-mile radius