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Gerber Collision Sale-Leaseback, Spokane, WA

Gerber Collision Sale-Leaseback

Spokane, WA

Price $815,000
Cap Rate 5.00%
NOI $40,750
Lease Term 15 Years
Lease Type Absolute NNN Sale-Leaseback, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot
Rental Increases 8% Rental Increases Every Five (5) Years
Year Built 1979
Building Size 10,576 SF
Lot Size 2.01 Acres (87,750 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN SALE-LEASEBACK TO CORPORATE TENANT
» Gerber Collision is one of the largest auto collision and glass repair companies in North America (800+ locations) and is part of the Boyd Group, Inc., which is publicly traded on the Toronto Stock Exchange (BYD.TO)
» 8% rental increases during lease term, providing a hedge against inflation
» No landlord management, ideal for an out-of-area investor
» All Gerber Collision locations have achieved the highest training level recognized in the collision industry, the I-CAR Gold Class Professionals® designation

HIGH-VISIBILITY LOCATION IN POPULOUS AND GROWING AREA
» High-visibility location along East Francis Avenue (23,800 AADT)
» Beneficial proximity to highly trafficked Spokane thoroughfares, including U.S. Route 2/ North Division Street and U.S. Route 395 (combined 62,615 AADT)
» Population of 208,949 within a five-mile radius of the location, creating a reliable customer base for the site
» Surrounded by high-density single family housing developments and large townhouse complexes
» Projected 14 percent average annual household income increase within a five-mile radius of the site in the next five years, poising Gerber Collision and Spokane for significant concurrent growth

CENTRAL LOCATION NEAR LARGE SCHOOLS, EMPLOYERS, AND COMMUNITY HUBS
» Surrounded by a strong mix of local and national retailers, including Albertsons, Harbor Freight Tools, Lowe’s Home Improvement, Sportsman’s Warehouse, RnR RV Superstore, Trader Joe’s, Burlington, and many more
» Beneficial proximity to Spokane’s largest universities and schools, including Gonzaga University (7,295 students), Spokane Community College (10,375 students), Spokane Falls Community College (5,184 students), and Washington State University – Spokane (1,727 students)
» 1.3 miles from Providence Holy Family Hospital (272 beds, 1,000 employees)
» 2.2 miles from Northtown Mall, one of Spokane’s largest retail centers (175 stores, 1.04 million SF of retail floor area)
» Located in an income tax free state



Property Description

The property has a prime location along East Francis Avenue, with high-visibility and easy access to 23,800 vehicles per day. The location has a beneficial proximity to highly trafficked Spokane thoroughfares, including U.S. Route 2/North Division Street and U.S. Route 395 (combined 62,615 AADT). The site features a prime location in a populous and growing area, with 208,949 residents living within a five-mile radius of the property, creating a reliable customer base for the site. This Gerber Collision location greatly benefits from being surrounded by high-density single family housing developments and large townhouse complexes. With a projected 14 percent average annual household income increase within a five-mile radius of the site in the next five years, Gerber Collision and Spokane are poised for significant concurrent growth.

Visibility to the property is increased by the site’s centralized location near large schools, employers, and community hubs. The site is surrounded by a strong mix of local and national retailers, including Albertsons, Harbor Freight Tools, Lowe’s Home Improvement, Sportsman’s Warehouse, RnR RV Superstore, Trader Joe’s, Burlington, and many more. The site is centrally located minutes from Gonzaga University (7,295 Students), Spokane Community College (10,375 Students), Spokane Falls Community College (5,184 Students), Washington State University – Spokane (1,727 Students). The property also benefits from its location 1.3 miles from Providence Holy Family Hospital (272 beds, 1,000 employees) and 2.2 miles from Northtown Mall, one of Spokane’s largest retail centers, with 175 stores and 1.04 million SF of retail floor area.

Contact Us About This Property

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