Listed by Marcus & Millichap | The Patel Yozwiak Group
$2,150,000
Caliber Collision | Below Market Rent
Details
Property Type Retail
Sub Type Auto Shop
Square Footage 13,242
Net Rentable (SqFt) 13,242
Units 1
Cap Rate 4.05%
NOI $87,120
Occupancy 100%
Tenancy Single
Brand/Tenant Caliber Collision
Lease Type NN
Lease Expiration 02/28/2030
Remaining Term 3.5
Rent Bumps No
Lease Options None
Pro-Forma Cap Rate 8.00%
Price per SqFt $162
Year Built 1961
Year Renovated 1975
Buildings 3
Stories 1
Lot Size (SqFt) 1.25
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 02/13/2015
Ground Lease No
Ownership Fee Simple
Sale Condition N/A
Below-Market Rent: Subject Rent is Roughly 49% to 67% Below the Market Rate of $16–$20/SF NNN
Investment highlights
- SINGLE TENANT CALIBER COLLISION LOCATION: 13,242-SF across 3 parcels totaling 1.25 acres with multiple work bays, vehicle storages pace and fully separate customer lobby/waiting area.
- DOUBLE NET LEASE: Just over 3.5 years remaining on the original NN lease. Minimal landlord responsibilities. Below market rent.
- CORPORATE GUARANTEE: Lease is guaranteed by Caliber Collision, which ranks as the nation’s largest collision repair provider, with more than 1,700+ locations across 41 states.
- FEE SIMPLE OWNERSHIP: Provides the buyer with the highest form of real estate ownership and absolute control over the asset.
- STRONG LOCATION FUNDAMENTALS: Situated along Harbor View road in a dense light industrial hub with convenient access to S Tamiami Trail and Barron Collier Bridge leading into downtown Punta Gorda. 2.5 miles from I-75 on-ramp, seeing 81,500 Vehicles Per Day (VPD).
- PROXIMITY TO RETAIL HUB: Located near multiple shopping centers and national tenants including Extra Space Storage, McDonald’s, Ollie’s, Beef O Bradys, Walgreens, 7 Brew, Publix, Dollar General, Bob Evans and more.
- DOWNTOWN TRAFFIC CORRIDOR: Located 0.5 miles off of S Tamiami Trail, seeing 45,500 VPD and the Barron Collier Bridge with 34,000 VPD.
- PROXIMITY TO MAJOR ATTRACTIONS: 1 miles from Hilton Sunseeker Resort and 2.5 miles from downtown Punta Gorda.
- STRONG DEMOGRAPHICS: The population exceeds 106,400 within 5-miles and is projected to increase by 2030. Unemployment is 0.54% within 1-mile of the subject. Port Charlotte is part of the Sarasota metropolitan area with a population of over 833,000.
Listing Contacts
Listed by Marcus & Millichap | The Patel Yozwiak Group
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
$87,120.00
$7,260.00/mo
Valuation Metrics
0
DSCR
4.05%
Cap Rate
4.05%
ROI
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Name
License
Title
Is there information that looks off?
