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Views: 40 DOM: 89 Updated: 07.16.24 Posted: 06.19.24 Status: Active

Summary

Price $11,540,000
Built/Renov 2023
Tenant Tesla
Cap Rate 5.65%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 40,000
Lease Start 08-11-2023
#Units 1,208
Price/SF $288.50
Expiration 08-31-2033
Tenant Type Automotive
NOI $652,000
R. Term 8.11
Ownership Fee Simple
Rent/SF $16.30
Increases 10.0%/5/yrs
Pop 5Mi 314,089
Lot/AC 4.57
Options 2/5yrs/10%
AHHI 5Mi $90,126

Lease Highlights

  • New 2023 construction
  • Tesla has 9 years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Corporate guarantee | Investment grade tenant

Location Description

Tesla Collision Center is strategically located on Laureate Drive, with access to a substantial daily traffic count of 181,087 vehicles. The property is near numerous automobile dealerships, including Ancira Chrysler Jeep Dodge Ram, Ancira Nissan (95,700 annual visits, top 10% location nationwide per Placer.ai), Ken Batchelor Cadillac (113,400 annual visits, #4 location nationwide), Porsche...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Tesla
  • Guarantor:Corp T and Rated
  • Company:Tesla, Inc
  • # Units:1,208
  • Tenant S&P: BBB
  • Moody’s: Baa3
  • Stock: NASDAQ: TSLA

About Tenant

Tesla, Inc. is an American electric vehicle and clean energy company. They specialize in electric vehicle manufacturing, battery energy storage from home to grid-scale, and solar panel and solar...


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Listing Broker

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