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34221471
34221470

1607 East Commerce Street, Greenville, AL 36037 For Sale

HC
AL 0000
Matthews
Listed by Matthews
$420,000
16 days on market
Updated 13 days ago

Gerber Collision - 1607 East Commerce St

Details
Property Type Retail
Sub Type Auto Shop
Square Footage 5,120
Net Rentable (SqFt) 5,120
Cap Rate 7.34%
NOI $30,844
Occupancy 100%
Tenancy Single
Brand/Tenant Caliber Collision, Take 5 Oil Change (+3)
Lease Type NN
Lease Term 5
Lease Expiration 06/28/2027
Remaining Term 1.1
Rent Bumps Yes
Lease Options Two, 5-Year
Price per SqFt $82
Year Built 2002
Buildings 2
Acreage 2.020
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 06/28/2002
Ground Lease No

20+ Year Tenant, Below-Market Rent, and Immediate Upside in Greenville, AL

Marketing description

Gerber Collision & Glass at 1607 East Commerce St, Greenville, AL 36037 presents a compelling net-leased industrial investment opportunity in a strategic South Alabama location. Positioned between U.S. Highway 31 and the Greenville Bypass, this ±5,120 SF collision repair facility sits on approximately 2.02 acres and has been occupied by the tenant for more than 20 years. Now operating under the nationally recognized Gerber Collision & Glass brand following Boyd Group’s acquisition of Joe Hudson’s Collision Center, the property is backed by a corporate lease with JHCC Holdings, LLC. Investors benefit from a double net lease structure with limited landlord responsibilities, a 7.34% cap rate, and an attractive low basis at a $420,000 list price. The tenant currently pays below-market rent of approximately $6.56/SF versus market rent of $10.12/SF, offering meaningful long-term upside. Gerber Collision & Glass is one of North America’s largest collision repair operators, with 1,000+ locations nationwide and a strong footprint across the Southeast. With two remaining 5-year renewal options and a well-established operating history at the site, this offering combines durability, brand strength, and future rental growth potential.

Investment highlights

• Formerly operated as Joe Hudson's Collision Center, the property now operates under the Gerber Collision & Glass brand following Boyd Group's acquisition of Joe Hudson earlier this year.

• Corporate lease with JHCC Holdings, LLC.

• Double Net lease structure with limited landlord responsibilities.

• Tenant is currently paying below-market rent of approximately $6.56/SF compared to a market rate of $10.12/SF according to CoStar. The location has been occupied by Joe Hudson for more than 20 years, creating potential long-term rental upside.

• Well-positioned location between U.S. Highway 31 and the Greenville Bypass, providing convenient access throughout the market.

• Gerber Collision & Glass operates more than 1,000 collision repair facilities across North America and is one of the largest collision repair companies in the industry.

• Strong presence throughout the Southeast with locations in Alabama, Florida, Georgia, Kentucky, Mississippi, North Carolina, Tennessee, Texas, and Virginia.

• Offered at an attractive 7.34% cap rate with a low acquisition basis of $420,000.

• Tenant has occupied the site for more than two decades and maintains two remaining 5-year renewal options, demonstrating a long-term commitment to the location.

Listing Contacts

HC
AL 0000
Matthews
Listed by Matthews

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$30,844.00
$2,570.33/mo

Valuation Metrics

0
DSCR
7.34%
Cap Rate
7.34%
ROI

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Additional Information

Name
Hutt Cooke
License
000168807-0, 000110253 - 0 (AL)
Brokerage
Matthews Real Estate Investment Services, Inc
Brokerage Phone
(866) 889-0550
Title
Broker of Record
Brokerage Address
1600 West End Ave, Ste. 1500 Nashville, TN 37203
Name
Hutt Cooke
License
0000
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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