O’Reilly Auto Parts


As a leading U.S. auto parts retailer, O’Reilly Auto Parts continues to offer automotive aftermarket parts, tools, supplies, equipment, and accessories for the commercial and residential markets. They’re also a desirable investment for net lease investments, considering that they typically offer long term primary structures of twenty years. This may include rental price bumps, 4-5 separate options to renew, and are usually ranked investment-grade.

Lowest Cap Rate


Lowest cap rate over past 24 months

Average Cap Rate


12 mo avg with 5+ yr lease term

Average Property & Lease
Average Sale Price $1,750,000 - $2,500,000
Average NOI $90,000 - $140,000
Building SF 7,000
Lease Term 20 Years
Escalations 5 - 10% Every 5 Years
Stock Symbol NASDAQ:ORLY




Tenant Description

As one of the top automotive parts industry retailers, O’Reilly Auto Parts (NYSE: ORLY) continues to experience substantial sales revenues with a giant selection of products. From OEM and after-market, to tooling, maintenance equipment, and professional grade accessories, they have strengthened their distribution hubs across the U.S. since the mid twentieth century.

Back in 1957, O’Reilly started in Springfield, MO with just one store. Corporate headquarters operates there even today, now comprised of over 4700 locations in forty five states, with twenty seven distribution centers as of 2016.

Over time, their focus on multiple market approaches included DIY (do-it-yourself), DIFM (do-it-for-me) and PSP (pro service providers). Out of those, approximately 42 percent of sales originates from the professional service provider sector.

Due to the fact auto parts stores will continue servicing aging vehicles on the road, they will have higher demand on average. This usually leaves little in the way of investor grade options available with reasonable pricing. Along with dollar stores, there are not many opportunities under two million dollars and these tend to be exceptions to the rule.

  • NNN leasing terms available
  • Tenant is investor-grade
  • Company guarantees
  • Prime city and rural real estate
  • Landlord obligations with some NN leases
Founded 1957
Headquarters Springfield, Missouri
Number of Locations 5,616
Revenue $13.327 B
Company Website https://www.oreillyauto.com
Key Principal Greg Johnson

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