Listed by Berger Commercial Realty
$4,235,000
Classic Collision Center- NE Fort Lauderdale
Details
Property Type Retail, Industrial
Sub Type Auto Shop, Warehouse
Square Footage 19,766
Cap Rate 5.80%
NOI $245,700
Occupancy 100%
Tenancy Single
Brand/Tenant Classic Collision, LLC
Lease Type NNN
Lease Term 15
Lease Expiration 08/30/2035
Remaining Term 10
Rent Bumps Yes
Lease Options Three (3) additional terms of Five (5) years each
Price per SqFt $239
Broker Co-Op Yes
Class B
Year Built 1975
Year Renovated 2015
Buildings 2
Stories 2
Acreage 1.030
Zoning I-1
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 08/31/2020
Ground Lease No
Ownership Private
Sale Condition 1031 exchange
Retail | 5.80% CAP | 19,766 SqFt
Marketing description
Sale Offering consists of a NNN Lease Collison Center property leased on a long-term basis to Classic Collison, a leading national chain of over 300 centers owned by publicly traded TPG ( NASDAQ: TPG).
Property is located in NE Fort Lauderdale just north of Commercial Boulevard and West of I-95.
Investment highlights
- Long Term Credit Lease with major publicly traded tenant
- Initial 15-year lease with (3) Five Year Options to renew with fixed 5% increases every 5 years
- Minimal Landlord responsibilities- Roof and structure only
- Well maintained buildings in excellent condition
- Offering consists of 2 buildings and 1 additional storage lot
- Recession proof business located in central Broward location
Listing Contacts
Listed by Berger Commercial Realty
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$245,700.00
$20,475.00/mo
Valuation Metrics
0
DSCR
5.8%
Cap Rate
5.8%
ROI
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