O'Reilly Auto Parts
507 W State St, Black Mountain, NC 28711
Single-tenant net lease with creditworthy tenant in Black Mountain, NC.
Type:Retail
Property size:
6,300 SFLot size:
1.08 AcresPrice / SF:
$154/SF- Added:
- Feb 17, 2026
- Days on Market:
- 130
- Last Refresh:
- Mar 17 at 1:15 pm
Property Features for 507 W State St
General Information
- Standard status
- Active
- Size
- 6,300 SF
- Lot size
- 1.08 Acres
- Property subtype
- Retail
Listing office Silber Investment Properties Ltd
Listing date Feb 17, 2026
Source Crexi
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 Silber Investment Properties Ltd
HighLights
- Creditworthy tenant: O'Reilly Auto Parts (NASDAQ: ORLY) with investment‑grade Moody's Baa1 rating.
- Long‑term NN lease with corporate guarantee, providing passive income and minimal management.
- Attractive 6.25% CAP rate and $61,056 annual rent.
- Built‑in 6% rent increases every 5 years and three (3) five‑year renewal options, ensuring income growth.
- Recent capital improvements: new roof (2023) and resealed parking lot, minimizing near‑term expenses.
- High‑visibility location on West State Street (US 70) with strong traffic counts (8,253 VPD) and proximity to national retailers.
Overview
This single-tenant net lease investment opportunity features an O'Reilly Auto Parts location at 507 W State St, Black Mountain, NC 28711. The property is priced at $975,000 with a 6.25% CAP rate, generating $61,056 in annual rent under a long-term NN lease where the tenant is responsible for roof, structure, and parking lot maintenance. The current lease expires in May 2030 and includes three five-year renewal options with 6% rent increases every five years. The 6,300 square foot building is situated on a 1.08-acre lot with visibility and high traffic counts of approximately 8,253 vehicles per day along West State Street (US 70 corridor). The property is surrounded by national retailers such as CVS, Ingles, Tractor Supply, and Dollar General. Capital improvements include a new roof installed in 2023 and a recently resealed parking lot. O'Reilly Auto Parts has an investment-grade credit profile, including a Moody's Baa1 rating. This corporate-guaranteed lease offers passive income with minimal management, making it suitable for 1031 exchange buyers, private investors, or those seeking portfolio diversification in the automotive aftermarket sector.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $107.4k | $17.04 |
| − Vacancy | −$1.8k | −$0.29 |
| EGI | $105.5k | $16.75 |
| − OpEx | −$31.7k | −$5.03 |
| NOI | $73.9k | $11.73 |
6,300 SF · lease $17.04/SF/yr · vacancy 1.70% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.06M
$923.4K – $1.23M
NOI $73,869 @ 7.0% cap · market cap 7.58%
Second Best
Industrial
$627.2K
$548.8K – $731.7K
NOI $43,902 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,450 @ 7.0% cap · market cap 14.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
O'Reilly Auto Parts
Auto Parts Store
Similar Places Nearby
- Shifty's Transmissions — 410 Blue Ridge Rd, Black Mountain, NC 28711
- Clements Automotive — 561 Blue Ridge Rd, Black Mountain, NC 28711
- Hall's Towing & Recovery — 410 Blue Ridge Rd, Black Mountain, NC 28711
- Koppinger Euro Service — 1196 Old US Hwy 70, Black Mountain, NC 28711
- German Motor Performance — 8 Julian Dr, Black Mountain, NC 28711
Location Insight
- Map
- Local Demand
- City
- Black Mountain
- County
- Buncombe
- State
- North Carolina
- Longitude
- -82.3282491
- Latitude
- 35.6126317
Nearby Similar for Sale
FAQs
What type of property is this?
Auto shop - Single-tenant net lease with creditworthy tenant in Black Mountain, NC.
Where is this auto shop located?
The property is located at 507 W State St Black Mountain, NC.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Creditworthy tenant: O'Reilly Auto Parts (NASDAQ: ORLY) with investment‑grade Moody's Baa1 rating.; Long‑term NN lease with corporate guarantee, providing passive income and minimal management.; Attractive 6.25% CAP rate and $61,056 annual rent.
