Highlights
• Newly signed 10-year lease; 10% rent increase in Feb 2030 • Four 5-year renewal options: 6% increase in first, 8% in remaining • Located on 31,990+ AADT signalized hard corner along retail corridor • Corridor anchored by The Home Depot, Walmart Supercenter, Harbor Freight, and Tops • Part of Buffalo–Cheektowaga, NY metro area (population 1.16M+) • Tenant: O’Reilly Automotive Inc. — 6,187+ U.S. stores, recently expanded into Canada • Nearby retailers: Caliber Collision, Pep Boys, Aldi, PetSmart, Burger King, Wendy’s, OfficeMax, Tim Hortons, Five Below, T.J. Maxx
Description
Marcus & Millichap is offering for sale the fee simple interest in a newly renovated 14,832-square-foot O’Reilly Auto Parts store in Lockport, New York, under a corporately guaranteed double-net lease with 10 years remaining and a 10% rent increase scheduled for 2030. The lease includes four five-year renewal options, with a 6% rent increase in the first option and 8% increases in the remaining options. Situated on a 1.62-acre parcel at a high-traffic signalized intersection along the South Transit Street (State Route 78) retail corridor, the property is surrounded by tenants such as DaVita Kidney Care and Little Caesars, with nearby shopping centers anchored by The Home Depot, Walmart Supercenter, Harbor Freight, Runnings, and Tops Friendly Markets. Located on either side of the Erie Canal in western New York, Lockport benefits from access to over 2.5 GW of hydroelectric power from Niagara Falls and hosts major employers including General Motors, MAHLE, and Bison Bag Company. The city lies just 21.8 miles northeast of downtown Buffalo. O’Reilly Automotive operates over 6,187 stores globally and distributes parts under the Parts City banner, reporting $15.8 billion in sales in FY2023 and ranking No. 261 on the Fortune 500. This offering provides investors with a newly renovated, hard-corner retail property on a bustling corridor, secured by a long-term lease with a publicly traded, financially strong tenant.
Listing Details
- Cap Rate
6.2%
- Tenancy
Single
- Space Type
specialty
- Sub Category
auto-dealership
- Date Listed
10/15/2025
- Ownership Info
Corporate
- Broker/Agent Co-op
Yes
- Investment Type
Net Lease
- Net Operating Income
$180,000
- Parking Info
40 spaces
Property Specifics
- Property Name
O'Reilly Auto Parts
- Property Class
C
- No of Buildings
1
- No of Stories
1
- No of Units
1
- Year Built
2002
- Building Size
14,832 SF
- Lot Size
1.62 AC
- Year Renovated
2025
- APN
290900-123-009-0001-003-002
- Zoning
B2
- Occupancy
100%