Pinnacle Announces the Sale of a Net Leased O’Reilly Auto Parts Property in Wheat Ridge, CO
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of the net leased O’Reilly Auto Parts property located at 4490 Wadsworth Boulevard in Wheat Ridge, Colorado. The property, an approximately 7,224 SF retail building on an approximately 0.82 acre site, sold for $1,560,000 on May 17, 2017. The property sold for 98% of list price and is located on the corner of 45th Avenue and Wadsworth Boulevard. O’Reilly, who has occupied the property for about ten years, recently exercised a five year option to extend their lease. Justin Krieger, Principal, represented the seller and procured the buyer.
“My client purchased this property for $960,300 about a year and a half ago when the tenant’s lease had much less time on it and their likelihood of staying was up in the air. Once O’Reilly exercised their five year option, buyers saw the property as a stable deal with low in-place rents instead of a potentially vacant building, and the value almost doubled,” said Krieger.