Listed by Matthews
$2,335,384
Caliber Collision
Details
Property Type Retail
Sub Type Auto Shop
Square Footage 12,600
Cap Rate 6.50%
NOI $151,800
Tenancy Single
Lease Type NN
Lease Expiration 03/31/2032
Rent Bumps Yes
Lease Options Two, 5-Year Options
Price per SqFt $185
Year Built 2019
Acreage 1.500
Investment Type Net Lease
Lease Commencement 03/02/2021
Ground Lease No
Ownership Fee Simple
Corporate Guaranteed Caliber Collision NN Lease in High-Growth Des Moines Metro
Investment highlights
- Deep Tenant Commitment Backed by Institutional Credit: The landlord’s $189,000 dollar investment in tenant improvements reflects a highly specialized collision repair buildout, effectively sticking the tenant to the site due to high relocation costs and infrastructure dependency. The tenant, Caliber Collision, the largest collision repair operator in the United States with more than 1700 locations, maintains preferred relationships with major insurance carriers, ensuring a consistent, insurance driven customer pipeline. The lease is corporately guaranteed and backed by Hellman and Friedman, significantly reducing default risk compared to franchise or local operators.
- Strategic Positioning in a High Growth, Stable Metro: Located in Des Moines, one of the fastest growing metropolitan areas in the Midwest, the property benefits from a diversified and resilient economic base anchored by insurance, finance, and government sectors, supporting a stable, high-income population that consistently maintains and repairs vehicles. Positioned along NW Prairie Lane, the site captures traffic from rapidly expanding northern suburbs, offering strong accessibility, high vehicle density, and proximity to key thoroughfares critical for collision center performance.
- Zoning Barriers and High Cost to Replicate Specialized Facility: Auto body and collision repair zoning is increasingly difficult to obtain due to noise, environmental, and land use restrictions, creating a meaningful barrier to entry and protecting the site from future nearby competition. The 12600 square foot facility sits on approximately 1.5 acres and is purposely built with specialized bays, ventilation systems, and drainage infrastructure. Replicating a similar asset today would require significantly higher costs, reinforcing long term value as construction and land prices continue to rise.
- Stable NN Lease Structure with Reduced CapEx Risk and Fee Simple Upside: The double net NN lease requires the landlord to maintain the roof, structure, and parking lot; however, with the asset built in 2019, these major components remain in the prime of their lifecycle, significantly limiting near term capital expenditure exposure. This structure provides operational security while still allowing ownership to benefit from fee simple depreciation advantages.
Listing Contacts
Listed by Matthews
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$151,800.00
$12,650.00/mo
Valuation Metrics
0
DSCR
6.5%
Cap Rate
6.5%
ROI
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