O’REILLY AUTO PARTS (S&P: BBB+)

INVESTMENT OPPORTUNITY

O'REILLY AUTO PARTS (S&P: BBB+)

2017 BUILD TO SUIT

WAUNAKEE, WI (MADISON)

OFFERED AT: $1,800,000 | 5.25% CAP OFFERED AT $2,027,000 | 6% CAP

Actual Property

EXECUTIVE SUMMARY

PROPERTY INFORMATION

TENANT OVERVIEW

AREA OVERVIEW

TABLE OF CONTENTS

EXECUTIVE SUMMARY 4 Executive Summary 5 Investment Highlights 6 Lease Summary & Rent Overview 7 Lease Abstract

PROPERTY INFORMATION 9 Location Maps 10 Site Plan 11 Property Photos 12 Neighboring Tenants 14 Aerials

TENANT OVERVIEW 20 About O'Reilly Auto Parts

AREA OVERVIEW 22 Waunakee Overview 23 Madison Overview 24 Demographics

Confidentiality Agreement & Disclosures

EXCLUSIVELY LISTED BY

RYAN BARR Principal

760.448.2446 rbarr@lee-

RYAN BENNETT Principal

760.448.2449 rbennett@lee-

Actual Property

BROKER OF RECORD: Lee & Associates of Madison, LLC

WI Brokers Lic# 701361-91

O'REILLY AUTO PARTS | Waunakee, WI (Madison MSA) | 2

Actual Property

EXECUTIVE SUMMARY

O'REILLY AUTO PARTS Waunakee (Madison MSA), WI

O'REILLY AUTO PARTS | Waunakee, WI (Madison MSA) | 3

EXECUTIVE SUMMARY

? Offering Summary ?

PROPERTY INFORMATION

Investment Highlights

TENANT OVERVIEW

Lease Summary & Rent Schedule

-- OFFERING SUMMARY --

INVESTMENT HIGHLIGHTS

Offering Price:

$1,800,000

Net Operating Income:

$94,902

Cap Rate:

5.25%

Price/SF:

$275

Lease Type:

Double-Net (NN)

Address:

Property Size: Land Size: Ownership: Year Built:

PROPERTY OVERVIEW 510 W Main Street Waunakee, WI 53597 Approx 6,545 Sq. Ft.

Approx 20,168 Sq. Ft.

Fee Simple (Land, Building)

2017 (Build to Suit)

Lee & Associates is pleased to exclusively offer for sale the fee simple interest (land & building) in an O'Reilly Auto Parts property located in the town of Waunakee, WI just 13 miles NW of Madison (the "Property"). Built in 2017, the building is a new build to suit for O'Reilly Auto Parts and consists of an attractive 6,545-square-foot retail building with a unique red brick column design. The improvements sit on an approximately 20,168-square-foot parcel.

The property is leased to publicly traded O'Reilly Auto Parts, one of the largest specialty retailers of automotive aftermarket parts, tools, supplies, equipment, and accessories in the United States. O'Reilly Auto Parts operates 5,190 store locations in 47 U.S. states

O'Reilly Auto Parts has an investment grade credit rating of "BBB+" by Standard & Poor's and reported $8.9B in total sales with $7.5B in total assets for 2017 (see page 20 for 2017 annual report)

O'Reilly's new 20-year lease commenced in January 2017 and features 7% rent increases starting in Year 11 of the Primary term and every 5 years thereafter, including the (4) 5-year option periods. The Landlord is responsible for the roof & structure. The tenant pays taxes and insurance while maintain the repair & replacement of the roof membrane, sidewalks and HVAC.

The subject property is located just 13 miles NW from Madison and sits on the hard corner intersection of W. Main Street/Hwy 19 and S. Klein Dr, a block from where Hwy 19 & Hwy 113 intersect. This strategic location offers excellent visibility to combined 25,000 cars per day and provides multiple access points in/out of the property.

The property's location provides an investor with stellar demographics. There is an average household income of $126,000 within a 3-mile radius and provides for an estimated 9,125 households within a 5-mile radius of the subject property (see page 24).

The subject property benefits from nearby retailers including Piggly Wiggly, McDonald's, Taco Bell, BP Oil, Dunkin Donuts, Old National Bank, Walgreens, BMO Harris Bank, Milio's Sandwiches, US Bank, and many more. Waunakee Village offices such as the Police Department, Fire Department, Emergency Medical Services, and School District offices surround the property as well, providing for strong synergy.

The subject property resides within the town of Waunakee, in Dane County, Wisconsin. Waunakee is conveniently located just 13 miles northwest of Madison, Wisconsin's second largest city and is part of the Madison Metropolitan Statistical Area. Waunakee's short distance from Chicago, Minneapolis, and the Quad Cities allows the Village to expand beyond local markets.

The Waunakee/Westport region is home to some of the strongest businesses in the state, such as Uniek Plastics, Suttle-Straus, Scientific Protein Laboratories, LLC, Nord Gear Corp. Midwest, RenewAire, and Madrax.

Recent years have seen redevelopment of downtown along Waunakee's Main Street, including a new streetscape, redone building fronts, a mural, new buildings and apartments, and yearly public art displays. In May of 2018, Hovde Properties broke ground on its newest community, Lamphouse, in downtown Waunakee. The project will include 101 upscale units and approximately 12,100 square feet of commercial retail space.

Waunakee is an award-winning community; it was recently named the second Safest City in Wisconsin for 2018 by the National Council for Home Safety and Security, was selected by Family Circle magazine as one of the 10 best communities for families in the nation in 2015 and was named as #78 in CNN Money's "Top 100 Best Places to Live" for small towns in 2009.

AREA OVERVIEW

Lease Abstract

Actual Property O'REILLY AUTO PARTS | Waunakee, WI (Madison MSA) | 4

EXECUTIVE SUMMARY

Offering Summary

PROPERTY INFORMATION

? Investment Highlights ?

TENANT OVERVIEW

Lease Summary & Rent Schedule

AREA OVERVIEW

Lease Abstract

-- INVESTMENT HIGHLIGHTS --

STRONG CORPORATE LEASE GUARANTY ? O'REILLY AUTO PARTS (NASDAQ: ORLY) ? INVESTMENT GRADE CREDIT TENANT (S&P: BBB+) ? $8.9B IN SALES & $7.5B IN TOTAL ASSETS (2017)

The property is leased to publicly traded O'Reilly Auto Parts, one of the largest specialty retailers of automotive aftermarket parts, tools, supplies, equipment, and accessories in the United States. O'Reilly Auto Parts operates 5,190 store locations in 47 U.S. states.

O'Reilly Auto Parts has an investment grade credit rating of "BBB+" by Standard & Poor's and reported $8.9B in total sales with $7.5B in total assets for 2017 (see page 20 for 2017 annual report).

LOCATED JUST 13 MILES FROM MADISON, WI ? HIGHLY DESIRABLE DEMOGRAPHICS ($126,000 AHI) ? HARD CORNER LOCATION NEAR INTERSECTION OF HIGHWAYS 19 & 113 (COMBINED 25,000+ CPD) ? EXCELLENT ACCESS & VISIBILITY

The subject property is located just 13 miles NW from Madison and sits on the hard corner intersection of W. Main Street/ Hwy 19 and S. Klein Dr, a block from where Hwy 19 & Hwy 113 intersect. This strategic location offers excellent visibility to combined 25,000 cars per day and provides multiple access points in/out of the property.

The property's location provides an investor with stellar demographics. There is an average household income of $126,000 within a 3-mile radius and provides for an estimated 9,125 households within a 5-mile radius of the subject property (see page 24).

NEW 20-YEAR LEASE TERM ? 2017 BUILD TO SUIT ? ATTRACTIVE RED BRICK CONSTRUCTION ? PASSIVE INVESTMENT

O'Reilly's new 20-year lease commenced in January 2017 and features 7% rent increases starting in Year 11 of the Primary term and every 5 years thereafter, including the (4) 5-year option periods.

This building design consists of attractive red brick column construction and is a newer 2017 build to suit for O'Reilly Auto Parts. The Landlord is responsible for the roof & structure. The tenant pays taxes and insurance while maintain the repair & replacement of the roof membrane, sidewalks and HVAC.

PROPERTY RESIDES IN A MAIN RETAIL/BUSINESS CORRIDOR ? EXCELLENT RETAIL SYNERGY

The subject property benefits from nearby retailers including Piggly Wiggly, McDonald's, Taco Bell, BP Oil, Dunkin Donuts, Old National Bank, Walgreens, BMO Harris Bank, Milio's Sandwiches, US Bank, and many more. Waunakee Village offices such as the Police Department, Fire Department, Emergency Medical Services, and School District offices surround the property as well, providing for strong synergy.

LOCATED IN THE HIGHLY DESIRABLE MADISON MARKET (MSA) ? HOME OF THE UNIVERSITY OF WISCONSIN ? STATE CAPITAL CITY OF WISCONSIN

The subject property resides within the town of Waunakee, in Dane County, Wisconsin. Waunakee is conveniently located just 13 miles northwest of Madison, Wisconsin's second largest city and is part of the Madison Metropolitan Statistical Area. Waunakee's short distance from Chicago, Minneapolis, and the Quad Cities allows the Village to expand beyond local markets.

The subject property is ideally located within the Madison MSA. Madison is home to The University of Wisconsin, is the capital city of Wisconsin, home to the world-class Overture Center for the Arts, and provides residents with an abundance of parks, lakes, and unique neighborhoods. Home to the fastest growing population of any county in Wisconsin, Dane County boasts a highly educated workforce to power its diverse and innovative industries. With assets in information technology, life sciences, and agriculture, Dane County consistently ranks among the top areas for work and play.

W. MAIN ST (14,000 CPD)

S. KLEIN DR

O'REILLY AUTO PARTS | Waunakee, WI (Madison MSA) | 5

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