Listed by Matthews
$1,728,661
Caliber Collision - Texas Tech
Details
Property Type Retail
Sub Type Auto Shop
Square Footage 21,752
Cap Rate 6.5%
NOI $112,363
Occupancy 100%
Tenancy Single
Brand/Tenant Jiffy Lube, Caliber Collision
Lease Type NN
Remaining Term 8
Rent Bumps Yes
Lease Options Two, 5-Year Options
Price per SqFt $79
Broker Co-Op Yes
Class B
Year Built 1972
Year Renovated 2024,2025
Buildings 1
Stories 1
Acreage 1.650
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Ground Lease No
Ownership Fee Simple
6.50% Cap Rate | Below-Market Rent
Marketing description
Investment highlights
- Corporate Guarantee – The lease is secured by a corporate guaranty from Wand Newco 3, Inc., strengthening credit quality and minimizing investor risk.
- Recent Repairs - Full roof repair completed in 2024 (Documentation on File)
- Strong College Town Fundamentals – Located less than four miles from Texas Tech University, which enrolls approximately ±42,455 undergraduate students, the property benefits from steady demand and a stable economic base.
- Growing Demographics – The surrounding five-mile radius population of 241,827 is projected to grow by 4% over the next five years, supporting long-term market expansion
- Built-In Rent Growth – The lease features 2% annual rent escalations, providing consistent income growth and a hedge against inflation.
- Below-Market Rent Opportunity – The current rental rate of $5.16/SF is well below the tenant’s national average of $16.61/SF, presenting meaningful upside and strong potential for future rent increases.
- Long-Term Lease Structure – The tenant has executed a 10-year lease with approximately eight years remaining, along with two additional five-year renewal options, ensuring long-term income stability.
- Strategic High-Traffic Location – Situated at the intersection of 50th Street and Utica Avenue, the property offers excellent visibility and exposure to approximately ±28,400 vehicles per day.
Listing Contacts
Listed by Matthews
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$112,363.00
$9,363.58/mo
Valuation Metrics
0
DSCR
6.5%
Cap Rate
6.5%
ROI
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Name
License
Brokerage
Brokerage Phone
Title
Brokerage Address
Name
License
Name
License
Brokerage
Is there information that looks off?
