Wilde Automotive Repair
Retail | 6.50% CAP | 5,014 SqFt
Marketing description
This offering presents the opportunity to acquire a long-term, triple-net leased auto service property secured by Wilde Automotive Repair, featuring 18 years of firm lease term remaining with 15% rental increases every five years. The tenant operates from a recently renovated 5,014 SF facility (2025 capital improvements including new roof, drains, and drywells), minimizing near-term capital expenditure risk. Positioned just off the signalized corner of E Lincoln Rd and N Division St—one of Spokane's primary retail corridors with over 43,552 vehicles per day—the asset benefits from exceptional visibility within a dominant national retail trade area shadow anchored by major bigbox and lifestyle tenants. Supported by strong surrounding demographics, dense residential rooftops, and long-term lease structure, this property offers investors durable cash flow, attractive built-in income growth, and stable intrinsic real estate value in an established infill market.
Investment highlights
- Long-Term 18-Year Triple Net Lease: The property is secured by an 18-year triple net (NNN) lease, providing stable, long-duration income with zero landlord responsibilities. The auto repair use is a necessity-based service category that remains resilient through economic cycles.
- Attractive Rental Growth: The lease includes strong 15% rental escalations every five years, offering meaningful income growth and inflation protection. With two additional five-year options, the structure provides long-term durability and upside.
- Recently Renovated Asset: Originally built in 1986, the property was recently renovated in 2025, including a new roof, upgraded drains, and new drywells. These improvements reduce near-term capital expenditure risk and enhance long-term operational reliability.
- Shadow Anchored by Major National Retailers: The property is positioned within a dominant retail node shadow anchored by a major supercenter and surrounded by national brands including At Home, Texas Roadhouse, Walgreens, Hobby Lobby, Grocery Outlet, Michaels, Big 5, and more—driving consistent consumer traffic to the area.
- Dense Residential Trade Area with Strong Demographics: The surrounding 1-mile radius includes 8,219 homes and an average household income of $86,041, while the 3-mile daytime population exceeds 89,235. The combination of residential density and retail concentration supports sustained demand for automotive services.
- Strategic Infill Location in Established Market: Situated on a 0.39-acre parcel in a built-out retail corridor, the asset benefits from infill positioning with limited new competing development, reinforcing long-term intrinsic real estate value.
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