O'Reilly Auto Parts Retail
For Sale
Contact for pricing
4199 Main St, Springfield, OR 97478
Absolute NNN lease structure places no landlord responsibilities on the property owner.
Property Size8,000 SF
Lot Size0.79 Acres
Price / SF$411.38
Days on Market180
Property Features for 4199 Main St
General Information
Standard status
Active
Size
8,000 SF
Lot size
0.79 Acres
Property subtype
Retail
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$181,016
Site & Location
Corner Location
Yes
Traffic Count
37,700 vehicles/day
Road Access
Yes
Building Details
Tenancy
Single
Listing Agency:
Marcus & Millichap
(813) 387-4700
Listed By:
Reid Thedford · License #FL SL3442474
Source:
Crexi
Added: Mar 4
Changed: Aug 30
Last Checked: Aug 30 at 9:54PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap
Investment Insights
Based on property information with market context.
This 8,000-square-foot retail property is occupied by O'Reilly Auto Parts, an automotive parts retailer with more than 25 years of operating history at the location. The tenant has executed an early 10-year lease extension, with the base term now scheduled to expire in December 2037. The lease is structured as absolute NNN, with zero landlord responsibilities, and O'Reilly Auto Parts carries a BBB investment-grade credit rating from S&P.
The property occupies a 0.79-acre parcel at 4199 Main St in Springfield, Oregon, positioned at the signalized intersection of Main St. and S 42nd St. The intersection generates a combined traffic count of 37,700 cars per day, and the site includes multiple access points. Demographic counts are reported at 13,500+ residents within one mile, 50,000+ within three miles, and 87,000+ within five miles.
PlacerAI ranks the store 18 of 6,145 O'Reilly locations nationwide and 2 of 78 in Oregon, placing it in the top 99th percentile nationally.
The property occupies a 0.79-acre parcel at 4199 Main St in Springfield, Oregon, positioned at the signalized intersection of Main St. and S 42nd St. The intersection generates a combined traffic count of 37,700 cars per day, and the site includes multiple access points. Demographic counts are reported at 13,500+ residents within one mile, 50,000+ within three miles, and 87,000+ within five miles.
PlacerAI ranks the store 18 of 6,145 O'Reilly locations nationwide and 2 of 78 in Oregon, placing it in the top 99th percentile nationally.
Key Highlights
- Early 10‑year lease extension sets base term expiration in December 2037
- Absolute NNN lease with zero landlord responsibilities
- 8,000‑square‑foot O'Reilly Auto Parts retail property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$102,564
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,051,280
$2.1M
Cap Rate 7%
$1,465,200
$1.5M
Cap Rate 9%
$1,139,600
$1.1M
Market Conditions
NOI Build-Up for 8,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$158.4K $19.80/SF
− Vacancy
−$11.9K −$1.49/SF
EGI
$146.5K $18.32/SF
− OpEx
−$44.0K −$5.49/SF
NOI
$102.6K $12.82/SF
Area
Lane County, OR
Vacancy
7.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,051,280
Cap Rate 7%
$1,465,200
Cap Rate 9%
$1,139,600
Alternative Uses
Best Use
Retail
$1.47M
$1.28M – $1.71M
NOI $102,564 @ 7.0% cap · market cap 3.12%
Second Best
Industrial
$689.8K
$603.5K – $804.7K
NOI $48,283 @ 7.0% cap · market cap 1.47%
Theoretical Best
Office A
$2.02M
$1.77M – $2.36M
NOI $141,673 @ 7.0% cap · market cap 4.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
37,700 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
374
Businesses Nearby
89k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 43%
Home Improvements & Furnishings 1%
Taco Bell
Dining
19,233 visits/mo
0.1 miles
Dutch Bros. Coffee
Dining
16,459 visits/mo
0.1 miles
Chevron
Shops & Services
11,415 visits/mo
0.2 miles
76
Shops & Services
10,281 visits/mo
0.2 miles
Arby's
Dining
7,976 visits/mo
0.1 miles
Demographics for 97478, OR
39,155
Population
15,182
Households
2.6
Avg Household Size
40
Median Age
22%
College-Educated
92%
High-School Grad
168.4 sq mi
ZIP Area
233
Density / Sq Mi
$79,051
Median Household Income
$38,508
Median Earnings
$1,314
Median Rent
$361,200
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Absolute NNN lease structure places no landlord responsibilities on the property owner.
Where is this nnn property located?
The property is located at 4199 Main St Springfield, OR.
What is the asking price?
The asking price for this property is $3,291,000.
What are key features of this property?
This property features: Early 10‑year lease extension sets base term expiration in December 2037; Absolute NNN lease with zero landlord responsibilities; 8,000‑square‑foot O'Reilly Auto Parts retail property
