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Views: 17 DOM: 20 Updated: 09.15.24 Posted: 08.28.24 Status: Active

Summary

Price $2,075,550
Built/Renov 1986/2004
Tenant Gerber Collision & Glass
Cap Rate 8.00%
Lease Type NN+
Guarantor Corp Traded
Size/SF 10,234
Lease Start 12-01-2015
#Units 813
Price/SF $202.81
Expiration 12-31-2025
Tenant Type Automotive
NOI $166,044
R. Term 1.3
Ownership Fee Simple
Rent/SF $16.22
Increases 10.0%/5/yrs
Pop 5Mi 206,683
Lot/AC 1.17
Options 4/5yrs/10%
AHHI 5Mi $99,533

Lease Highlights

  • Gerber Collision & Glass has been operating in this location for 20 years
  • The tenant has 1+ year remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental escalations at the start of each option period
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

Gerber Collision & Glass is strategically located on N Lake Street, with access to 22,000 vehicles passing by daily. The property generates dual rental income streams from Gerber Collision & Glass and Classic Towing. The immediate area is home to well-known national tenants, including AutoZone, Meineke, AAMCO, Firestone, Starbucks, Dunkin', Sherwin-Williams, and more. The 5-mile trade area...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Gerber Collision and Glass is one of the largest auto collision and glass repair companies in the United States. Gerber provides collision/auto body repair and auto glass replacement and repair...


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Listing Broker

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