Current Use by Public Records
- Retail properties & Spaces
Property Details for 6464 Ga-42
- Year built
- 2019
- Lot size
- 1.34 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Auto shops
Description
This exceptional investment opportunity presents a 7,225 square foot O'Reilly Auto Parts store in Rex, Georgia, situated on a 1.34-acre lot. Built in 2019, the property boasts a long-term, net lease with a corporate guarantee from O'Reilly Auto Parts (NASDAQ: ORLY), a publicly traded company with a strong financial track record. The current lease, commencing November 15, 2020, and expiring November 29, 2035, offers a remaining term of 11 years, with four 5-year renewal options, each including a 6% rent increase. The property generates a substantial net operating income (NOI) of $121,716, resulting in a compelling 5.80% cap rate. Strategically located off I-675 with direct frontage on Hwy 42, this location benefits from high visibility and easy access within the Atlanta MSA. The surrounding area demonstrates strong demographics, with a population of 134,161 within a 5-mile radius and a projected 3% increase over the next five years. The property's performance is further enhanced by its proximity to a high-performing grocery-anchored shopping center. This presents a rare opportunity to acquire a stable, high-performing net-leased asset with significant long-term growth potential. The asking price is $2,100,000, translating to $290.66 per square foot.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Rex
- County
- Clayton
- State
- Georgia
- Longitude
- -84.2809
- Latitude
- 33.5777
