INVESTMENT HIGHLIGHTS
NEW 10-YEAR LEASE
Crash Champions recently signed a brand new 10-year lease that commenced December 1, 2022, providing an investor with long-term, passive cash flow.
STRONG CORPORATE GUARANTEE
The Lease is guaranteed by Crash champions Corporate (Crash Champions, LLC) which operates over 600 auto repair locations across 36 states.
2% ANNUAL RENT INCREASES
The Lease features rare 2% annual rent increases during the 10-year term and all options, providing an investor a hedge against inflation.
BELOW MARKET RENT
Crash Champions is currently paying just $9.50/SF + NNN with market rents achievable in the $13-15/SF + NNN range.
PRICED WELL BELOW REPLACEMENT COST
The Property is priced at just $194/SF which is well below the cost to build a comparable building in this submarket, providing a very secure entry basis.
NEARLY 0% VACANCY RATE SUB-MARKET WITH STRONG MARKET RENT GROWTH
Crash Champions is located within a highly sought after sub-market that has a vacancy rate of nearly 0%, per CoStar. Bellingham boasts an overall 2.2% retail vacancy rate and 2.3% industrial vacancy rate. Retail rents have grown by 14.5% over the past three years and industrial rents have grown nearly 32% in the past five years.
STRATEGIC LOCATION
The Property is located within Bellingham’s auto district and is just few blocks away from Interstate 5 (I-5, 72,800+ VPD). The property also benefits from its proximity to Western Washington University and Barkley Village.
AFFLUENT, HIGH POPULATION GROWTH SUB-MARKET
The Property benefits from a population of over 111,000 people within a 5-mile radius, with average household incomes exceeding $85,000. Within a 5-mile radius, the population has grown nearly 14% since 2010 and is projected to increase by another 4.6% in the next 5 years.
INCOME TAX FREE STATE
Washington State has no state income tax.
Listing Agents:
CLAYTON J. BROWN
