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Updated: 06.10.24 Posted: 11.17.23 Status: Sold

Summary

Price $1,420,000 $1,600,000
Built/Renov 1990/2023
Tenant Caliber Collision
Cap Rate 7.61% 6.75%
Lease Type Double NN
Guarantor Corporate
Size/SF 11,436
Lease Start 11-01-2023
#Units 1,605
Price/SF $124.17 $139.91
Expiration 10-31-2032
Tenant Type Automotive
NOI $108,000
R. Term 7.5
Ownership Fee Simple
Rent/SF $9.44
Increases 2.0%/1/yrs
Pop 5Mi 136,542
Lot/AC 2.11
Options 2/5yrs/2%
AHHI 5Mi $101,791

Lease Highlights

  • 2023 renovations including new roof with transferable 20-year warranty and new asphalt
  • Caliber Collision has 8+ years remaining on the current lease term with 2 (5-year) options to extend
  • Lease features 2% annual rental increases
  • Corporately guaranteed by Caliber Collision

Location Description

Caliber Collision is conveniently located on Carpenter Rd. (16,648+ VPD), just off Interstate 94 (87,000+ VPD) and US-23 (68,600+ VPD). It is situated in a dense industrial area, with many nearby national tenants, including as Sam’s Club, Target, Lowe’s, Meijer, Home Depot, Kroger, Aldi, and more, creating a strong consumer drive to the trade area. Additionally, it is .5 miles from the...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Caliber Collision
  • Guarantor:Corporate
  • Company:Hellman & Friedman
  • # Units:1,605
  • Stock:Private

About Tenant

Caliber Collision Centers is the largest collision repair company in America, which provides mechanical repair, quick oil change services, and glass repair and replacement. Founded in 1997, today...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 7,633 49,826 136,289
2023 Total Population : 7,372 49,715 136,839
2023 Employed Civilian Pop : 4,029 25,648 70,727
2023 Total Businesses : 161 1,801 5,251
2023 Average Household Income : $ 114,838 $ 93,221 $ 112,215
2023 Total Consumer Spending : $ 307 M $ 1719 M $ 5530 M
2023 Median Age : 32 35 34
2023 Total Households : 3,082 21,203 56,988
2023 Pop Age 25+: Bachelor's Degree : 1,617 10,133 25,496
2023 Average Home Value : $ 271,273 $ 291,590 $ 374,369
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
E Morgan Rd Morgan Rd 2021 18,484 0.07 mi
Morgan Road W Michigan Ave 2022 816 0.19 mi
Morgan Rd Carpenter Rd 2012 515 0.24 mi
US 12 Arbor Meadows 2021 16,371 0.25 mi
Carpenter Rd W Michigan Ave 2009 15,683 0.26 mi
Carpenter Rd Morgan Rd 2012 17,891 0.27 mi
W Michigan Ave 2022 68,603 0.32 mi
Carpenter Rd Carpenter Rd 2021 849 0.36 mi
US 12 Carpenter Rd 2021 21,706 0.37 mi
US-12 Carpenter Rd 2020 18,809 0.37 mi

Listing Broker

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