SOLD- Net Leased O’Reilly Auto Parts, Texas

I am pleased to announce the sale of a net leased O’Reilly Auto Parts store in Lamesa,Texas. The seller was a past client, liquidating a LLC. I had sold a Sherwin Williams for this client last year. The buyer was an east coast based national fund paying cash.

Several offers were made on the property, from California, Ohio and New York. The subject had 12 years remaining on the lease, and was offered at a 6.3% cap rate. We were assisted by SVN Hallmark & Associates in Texas.

Current demand has pushed cap rates down to their lowest levels, raising values. If you have an investment property to sell or exchange,please call Mark. We can work in the Midwest, or nationally like this one in Texas.

Current Needs

I have buyers with the following criteria-

Auto Parts Stores- Advance, O’Reilly, AutoZone. NNN building or ground lease. Ohio or Indiana. 6% cap or higher.

Midwest. Restaurants or single tenant NNN. $1-$2 million, 7-10 yr term or better, 7% cap.

Midwest. Restaurants only, $800,000-$1,500,000. 10 years plus.

Single tenant NNN, nationwide. $1-$3 million, 6.5% cap, all niches.

Multi-family, 200+ units. Midwest and Southeast. Class A.

If you have a property that fits this criteria, please contact me. Demand and cap rate compression has raised property values.

New Listing- O’Reilly Auto Parts, Texas

Just Listed- O’Reilly Auto Parts, Lamesa, TX. $860,317, 6.3% cap, with 12 years remaining. NN lease, landlord responsible for roof and structure. 10% rent bump in two years. Texas has no state income tax.

Excellent bite size opportunity. Please email me for details.