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O'Reilly Auto Strip Center | 2024 Renovation 163 South St
13,671 SF 100% Leased Retail Building Pittsfield, MA 01201 $3,433,000 ($251.12/SF) 6.25% Cap Rate
INVESTMENT HIGHLIGHTS
- 100% Occupied | Options to Extend | Scheduled Rental Increases
- Near Signalized, Hard Corner Intersection | Excellent Visibility & Access
- Dense Retail Corridor | Strong National/Credit Tenant Presence | Berkshire Medical Center (302 beds) | Nearby Schools
- Strong Demographics in 5-mile Trade Area | Direct Consumer Base
EXECUTIVE SUMMARY
• O’Reilly Auto Parts commenced their lease in January 2024 and currently has apx. 14 years remaining on their initial 15 year lease term
• O’Reilly has 4 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 8% increases every 5 years and at the beginning of each option period
• The tenant Berkshire Medicine has been a tenant at the center since 2016 and currently has apx. 2 years remaining
• The lease features 3% annual increases
• Bottomless Bricks currently has 1 year remaining on their initial lease with 1 (1-year) option and 1 (5-year) option to extend, demonstrating their commitment to the site
• The lease features 3.5% increase in the first option, and 2% annual increases in the second option, growing NOI and hedging against inflation
PROPERTY FACTS
AMENITIES
- Corner Lot
- Pylon Sign
- Signage
- Signalized Intersection
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Berkshire Medicine
- Health Care and Social Assistance
-
99,999 SF
- -
-
Jan 0000
- Bottomless Bricks
- Retailer
-
99,999 SF
- -
-
Jan 0000
-
- Retailer
-
99,999 SF
- -
-
Jan 0000
O'Reilly Automotive intends to be the dominant supplier of auto parts in their market areas by offering their retail customers, professional installers, and jobbers the best combination of price and quality provided with the highest possible service level. In order to accomplish this mission, O'Reilly will provide a benefit and compensation plan that will attract and keep the kind of people that will enable the Company to reach its goals of growth and success.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Berkshire Medicine | Health Care and Social Assistance | 99,999 SF | - | Jan 0000 | ||
| Bottomless Bricks | Retailer | 99,999 SF | - | Jan 0000 | ||
|
|
Retailer | 99,999 SF | - | Jan 0000 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | PITT-000008H-000007-000001 | Improvements Assessment | $1,124,900 |
| Land Assessment | $194,700 | Total Assessment | $1,319,600 |
PROPERTY TAXES
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O'Reilly Auto Strip Center | 2024 Renovation | 163 South St
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