OFFERING SUMMARY:
PRICE: $3,288,000
CAP RATE: 7.50%
NOI: $246,588
BUILDING SIZE: 15,775 Sq Ft
YEAR BUILT | RENOVATED: 1989 | 2019
LOT SIZE: +/- 1.34 Acres
DOWNLOAD DOCUMENT:
HIGHLIGHTS:
- Corporate Guaranty from Caliber Collision (1,700+ Locations) – Caliber Collision is the nation’s largest collision repair provider with 1,700+ I-CAR Gold Class Professional certified collision repair centers across 41 states. With 2022 revenues exceeding $5.7 Billion, Caliber Collision corporately guarantees this lease behind a strong private equity backing from majority owner, Hellman & Friedman ($25 Billion of total assets under management). Caliber Collision was recently upgraded by Moody’s Credit Rating to a “B2” rating and has a Standard & Poor’s “B” Rating.
- Early 5-Year Lease Extension – Showing commitment to the site, Caliber just extended their lease early for an additional, 5-year term. Caliber had an original, 10-year lease and has one, five-year option remaining. The lease features 6.50% rental increases every five years, with the next to occur in the next option period.
- Stop-Light Intersection with Multiple Access Points – The location is situated at the stop-light intersection of Fullerton Rd and Belt W (IL-161), in which the intersection sees a daily traffic count exceeding 29,000 VPD. IL-161 feeds directly into downtown St. Louis. The site also has multiple points of ingress and egress, benefitting from traffic flow from both IL-161 and Fullerton Rd.
- Densely Populated St. Louis Submarket – Located just 13-miles from downtown St. Louis, roughly 118k people reside within a 5-mile radius and 241k people reside within a 10-mile radius of the subject property.
EXCLUSIVELY LISTED BY:
DOMINIC SULO
Senior Managing Director Investments
Senior Director, Net Lease Properties Division
(630) 570-2171
dominic.sulo@marcusmillichap.com
DREW ANTONIOU
Senior Associate
(630) 570-2185
drew.antoniou@marcusmillichap.com
ILLINOIS BOR
Steven Weinstock
Lic #471.011175