4950 Dave Robbins Way - Auto Repair FOR SALE


Lakeland, FL 33812
$2,221,000 USD
813-758-8797
4950 Dave Robbins Way, Lakeland, FL for Sale
$2,221,000 USD
Auto Repair - FOR SALE
1/4
null | 5.85% Cap Rate

4950 Dave Robbins Way
Lakeland, FL 33812


HIGHLIGHTS

  • O’Reilly Auto Parts (NASDAQ: ORLY) has an investment-grade credit rating (S&P: BBB) and achieved $15.8 billion in revenue in 2023.
  • Lease term remaining exceeds 11 years and O’Reilly pays a low $17 PSF. Market rent in Lakeland has grown 22.6% since Q1 2020.
  • O’Reilly is an outparcel to Publix—the most dominant grocery store chain in the South—and Publix is headquartered in Lakeland.
  • This store is 10 miles from O’Reilly’s only Distribution Center in FL. Lakeland is a distribution hub, as 10 million people live within 100 miles.
  • O’Reilly is on a corner lot at a lighted intersection along a road with 56,500 vehicles per day. Traffic along Bartow Road has grown 40% since 2020.
  • 5,100 new residential units are being added as in a trade area with 80,794 residents with AHHI of $112,799 live within 5 miles of the Property.

OVERVIEW

Colliers, as exclusive broker, is pleased to offer the opportunity to acquire O’Reilly Auto Parts (the “Property”) in a Florida market where over 10 million people live within 100 miles. Lakeland is a dominant industrial and shipping hub. The Property is a hard corner outparcel to a Publix-anchored shopping center that welcomes 1.8 million annual visitors along Bartow Rd (56,500 VPD) in the same metro area where Publix Supermarkets is headquartered. O’Reilly Auto Parts has an investment-grade, BBB credit rating from S&P and is publicly traded. Over 11 years of lease term remain on the original 15-year lease that was signed in 2020 and market rent in Lakeland has grown 22.6% since lease signing. 80,794 residents live within a 5-mile radius with an average household income of $112,799. Over 5,100 new residential units are underway in and around the 3-mile radius surrounding the Property. The O’Reilly Auto Parts Distribution Center for the state of Florida is located 10 miles west of the Property. Lakeland is incredibly pro-business and Florida benefits from zero state income tax.

FOR SALE DETAILS

PRICE

$2,221,000 USD

PRICE/SF

$291 USD /SF

CAP RATE

5.85%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

O'Reilly Auto Parts

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2021

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.95 AC

LAND SF

41,382 SF

ZONING

-

APN/PARCEL ID

24-29-11-281017-000150

ASK ABOUT THIS PROPERTY

Michael BrewsterColliersMore Info
813-758-8797

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Michael BrewsterColliersMore Info
813-758-8797

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.