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O'Reilly Auto Parts NN
6 Back River Neck Rd · Essex, MD 21221 · Auto Parts / Service
Asking price
$1,542,000
Cap rate
6.50%
NOI
$100,285
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Lease
Lease typeNN
Term remaining8.9 yrs
Expiration06/2035
Rent bumpsYes
OptionsThree; Five-Year Terms
Ground leaseNo
Credit profileCorporate Guarantee
TenancySingle
Planning a 1031 Exchange
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and can introduce one if you have not yet engaged an exchange accommodator.
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Property
Building SF9,000
Price / SF$171
Year built1942
Lot size1.33 ac
TypeAuto Shop, Storefront
Days on market111
Need year-one bonus depreciation
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segregation study can accelerate into year one. Tell us your tax year and entity
and we will model the deduction.
Investment highlights
NEW 10-YEAR LEASE WITH RAPIDLY EXPANDING AND CREDIT WORTHY O’REILLY AUTO PARTS
O’Reilly’s lease commenced in June of 2025, and has one (1) 10% rental increase in its base term, and in each of the option periods, ensuring a hedge against inflation
One of three O’Reilly Auto Parts stores within the Baltimore Metro area, displaying their expansion, commitment and success within the region
O’Reilly Auto Parts is corporately guaranteed and has grown to 6,400 locations across 48 states, and recently opened 100+ locations in 2025 with continued growth plans in Maryland and the surrounding submarkets.
Publicly traded (Nasdaq: ORLY) with a BBB credit rating from S&P and a Baa1 credit rating from Moody’s providing strong credit
MINIMAL LANDLORD RESPONSIBILITIES WITH RECENT CAPITAL IMPROVEMENTS AND BUILT-IN VALUE-ADD POTENTIAL
O’Reilly is a corporately guaranteed lease, operating on a double-net (NN) reimbursement structure, with the tenant responsible for common area maintenance, taxes and insurance, minimizing landlord responsibilities.
The facade/signage for the property was renovated in late 2025/early 2026, further minimizing the near-term landlord responsibilities
The property features two vacant second-floor office suites totaling 3,500 SF, along with a vacant lot located at 6 Back River Neck Road (0.75 acres) available for lease and/or storage, offering multiple opportunities for immediate value creation
The subject property consists of 3 parcels totaling 1.33 acres, creating high residual value, and flexibility with the asset long-term
SUBSTANTIAL FRONTAGE ALONG BACK RIVER NECK ROAD WITH CONVENIENT ACCESS TO HEAVILY TRAFFICKED EASTERN BOULEVARD AND SOUTHEAST BOULEVARD
Excellent visibility along Back River Neck Road which sees steady traffic counts of 14,250 VPD with direct access to Old Eastern Avenue, Stemmers Run Road and Eastern Boulevard
0.5 miles and 0.3 miles from heavily trafficked Eastern Boulevard and Southeastern Boulevard, which see 26,600 VPD and 29,041 VPD respectively, both serve as primary thoroughfares through Essex
Southeastern Boulevard is a feeder road into, and from, Interstate 695 (I-695) which sees approximately 151,623 VPD and is located directly behind the subject property
Multiple points of ingress and clear pylon signage for O’Reilly maximizing the property’s access and visibility
POSITIONED WITHIN AN AFFLUENT AND DENSIFYING BEDROOM COMMUNITY OF ESSEX, MARYLAND WITH NEW AND ONGOING RESIDENTIAL DEVELOPMENT
Approximately 197,159 residents within a 5-mile radius, with population expected to grow annually through 2030
Average household income of approximately $97,000 within a 5-mile radius, with income levels expected to grow 2.11% annually through 2030
Surrounded by new residential developments, including Waters Edge on Sue Creek, a 14-lot waterfront subdivision by Greenspring Homes with starting home prices in the upper $600K range, adding strong household incomes to the local customer base
Located directly across the street from Renaissance Square, a 17-acre residential development that was delivered in 2012 and consists of an apartment building with 81 workforce housing units for seniors over the age of 62 and 115 units of for-sale housing of townhouses, detached cottages and two larger single-family home designs
The combination of established neighborhoods and new construction expands the daytime and evening population, supporting tenant demand and foot traffic for the subject property
DESTINATION USE OPPORTUNITY WITH A BUILT-IN, AND LOYAL, CUSTOMER BASE
Auto service-oriented asset that presents a true e-commerce resistant opportunity and a destination use opportunity
Previously operated for over 90 years as a Salvo Auto Parts and was their corporate location since their founding
Fierce and loyal customer base surrounding the subject property who is used to having an automotive use and option in close proximity to the larger community
Property overview
KLNB is pleased to present for sale the fee simple interest in the O'Reilly Auto Parts, a 9,000 SF freestanding pad site, positioned on 1.33 acres in Essex, Maryland. O’Reilly’s lease commenced in June 2025 and includes a 10% rental increase once during the base term, as well as in each option period, providing a built-in hedge against inflation. The property also presents a compelling value-add opportunity, featuring two vacant second-floor office suites totaling 3,500 square feet, in addition to a 0.75-acre vacant lot at 6 Back River Neck Road that is available for lease and/or outdoor storage. Positioned along Back River Neck Road, the asset benefits from consistent daily traffic of approximately 14,250 vehicles and offers convenient access to Old Eastern Avenue, Stemmers Run, and Eastern Boulevard. Having operated as Salvo Auto Parts for nearly 90 years, the property demonstrates a long-standing history of stable occupancy and an automotive use for the submarket, while offering immediate upside through the lease-up of the remaining vacant space.
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Asking-market observation aggregated from public listing sources, last
observed Sep 18, 2026.
Figures are asking price and asking cap rate as published by the listing party, not a
verified closed transaction. Lease terms shown where reported by the listing party and
not independently verified. Shown for market reference only; this is not an offering.
Investment Grade Income Property, LP represents buyers on a cooperating commission basis.