INVESTMENT HIGHLIGHTS
AAA HIGH-VOLUME LOCATION
The Property is located just off WA-500 (68K+ VPD), on NE Fourth Plain Blvd (36K+ VPD). The Property benefits from its close proximity to tenants such as Bi-Mart, Walgreens, 24 Hour Fitness, Fred Meyer, Lowe’s, Dollar Tree, Big Lots, and Sportsman’s Warehouse.
ANNUAL UNCAPPED CPI RENT INCREASES TO HEDGE INFLATION
The Property features annual CPI rent increases and below market rent, providing a strong hedge against rising inflation.
BELOW MARKET RENT
Caliber Collision is currently paying just $18.00/SF + NNN with market rents achievable in the $20-$23/SF range providing a low operating cost for Caliber Collision and upside in rents via annual CPI rent increases.
STRONG CORPORATE GUARANTEE
The Lease is guaranteed by Caliber Collision corporate, the largest collision repair company in America with more than 1,400 I-CAR Gold Class Professional certified collision repair centers across 40 states with annual revenues exceeding $4 Billion.
RECENTLY REMODELED
The Property was renovated in late 2019 with new signage, interior and exterior paint, and other light remodeling.
STRONG HISTORICAL OCCUPANCY
The Property has been an auto repair shop for over 35 years. Abra Auto Body & Glass purchased the operations in 2014 and signed a new 15- year lease. The Property was renovated and re-branded as Caliber Collision in late 2019.
MINIMAL LANDLORD RESPONSIBILITIES
The Lease features minimal Landlord management or repair
responsibilities (Landlord responsible for roof/structure).
INCOME TAX FREE STATE
Washington state is an income-tax free state.
Listing Agents:
CLAYTON J. BROWN
