Listed by Matthews
$1,371,429
Classic Collision
Details
Property Type Retail, Industrial
Sub Type Auto Shop, Warehouse
Cap Rate 7.00%
NOI $96,000
Tenancy Single
Brand/Tenant Classic Collision
Lease Type NN
Lease Term 10
Lease Expiration 10/30/2032
Remaining Term 7
Lease Options 3,5 Year Options
Year Built 1973 / 1972
Year Renovated 2011
Buildings 1
Stories 1
Acreage 1.03 - 2.03
Lease Commencement 10/20/2022
Ownership Fee Simple
National Tenant – Strong Operator
Marketing description
Crestview, located in Okaloosa County in Florida’s Panhandle, functions as a logistical and governmental hub for the northwest region of the state. Positioned at the intersection of Interstate 10 and State Road 85, the city facilitates efficient movement between inland communities and coastal destinations. Known as the "Hub City," Crestview supports significant regional traffic flow, connecting to nearby Eglin Air Force Base, Hurlburt Field, and Duke Field—all of which shape commuting patterns and sustain long-term economic stability. Bob Sikes Airport further anchors Crestview role in aviation and military support sectors.
While largely residential in scale, Crestview maintains a growing commercial core driven by government services, retail trade, and regional healthcare infrastructure. The area serves as a launching point for tourism to the Gulf Coast, with steady development in short-term lodging, food service, and hospitality sectors. Local schools operate under the Okaloosa County School District, contributing to community stability and workforce development. Infrastructure improvements, including downtown enhancements and highway upgrades, continue to support Crestview integration into broader Panhandle economic activity
Investment highlights
- National Tenant – Strong Operator - Classic Collision is a nationally recognized and rapidly expanding auto body repair brand, operating over 330 locations across the United States. The company offers exceptional credit quality and operational stability, supported by its private equity sponsor, TPG Capital, a global investment firm managing over $225 billion in assets.
- Long-Term NNN Lease with Built-In Rent Growth - The property is secured by a ±6.5-year remaining term on a Triple Net (NNN) lease, with the Landlord responsible only for roof and structure. The lease includes three (3) additional 5-year renewal options and features 5% rent increases every five years, ensuring predictable income growth and long-term stability for investors.
- Strategic Location in a Growing Florida Market - Located in Fort Walton Beach, Florida, the property benefits from a diverse and expanding local economy, fueled by tourism, military employment, and steady population growth. The site enjoys excellent visibility and accessibility, positioned near a Walmart Supercenter, Sam’s Club, and Lowe’s, underscoring strong surrounding retail synergy and favorable area demographics.
- Large Site & Valuable Real Estate - The ±10,472 SF building is situated on a ±1.03-acre lot, offering a low building-to-land ratio, ample parking, and potential future redevelopment opportunities. The expansive site design accommodates high vehicle volume, allowing Classic Collision to maximize operational efficiency and revenue generation.
- Exposure to a Resilient and Fragmented Collision Industry - The asset is leased to Classic Collision, operating within the highly durable auto collision repair sector. Demand for collision services remains consistent regardless of economic cycles, driven by steady vehicle usage and accident frequency. Additionally, the industry continues to consolidate, with well capitalized operators like Classic Collision expanding their national footprint, supporting tenant stability and long-term occupancy.
- Attractive Passive Income Stream - Classic Collision bought the previous business ±3.5 years ago and established a 10-Year lease, showing long term commitment to the site. The NNN lease structure offers limited landlord responsibilities, with predictable income over the remaining ±6.5 year term. Scheduled 5% rent increases during option periods provide built in growth and inflation hedge over the long term.
- Large Land Parcel with Long Term Flexibility - The ±2.03 acre site is significantly larger than typical collision repair footprints, providing strong underlying real estate value. The excess land offers future optionality for expansion, redevelopment, or alternative uses, enhancing long term upside and residual value.
- Favorable Market Dynamics in Crestview, FL - Located in a growing Florida Panhandle market, the property benefits from population growth, increased vehicle ownership, and continued retail and residential expansion, supporting both tenant performance and long-term real estate appreciation.
Listing Contacts
Listed by Matthews
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$96,000.00
$8,000.00/mo
Valuation Metrics
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DSCR
7%
Cap Rate
7%
ROI
Map
Zoning
MU MixedMixed UseMixed Use
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