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CALIBER COLLISION | ABSOLUTE NNN 1290 Pine Plaza Dr 16,900 SF Retail Building Apex, NC 27523 $8,085,000 ($478.40/SF) 6.25% Cap Rate
Investment Highlights
- Absolute Net Lease (Zero Landlord Responsibilities) with approximately Five Years Remaining on the Initial Term, an Upcoming 10% Rental Increase.
- Dominant Leadership: Hellman & Friedman, Private Equity Firm with Over $25 Billion of Total Assets, is the Majority Owners after Merger.
- In Close Proximity to Numerous Auto Dealerships and Auto Service Centers including Toyota, Infiniti, Ford, Buick, Kia, Mercedes, Volkswagen.
- Caliber Collision is the Nation’s Largest Collision Repair provider, with more than 1,800 Convenient Locations in 41 States - and Growing.
- Strategic Triangle Highway Access: Positioned between U.S. Highway 64, the Western Wake Freeway, and U.S. Highway 1.
Executive Summary
Caliber Collision | Absolute Net Lease | Strategic Triangle Highway Access | Densely Populated & Affluent Area: $159k+ Avg. HHI | Automotive-Oriented Retail Synergy - Near Numerous Auto Dealerships & Auto Service Centers | Weather-Driven Automotive Repair Demand | Fast-Growing Raleigh-Cary Metro | Costco-Anchored Retail Location | Qualifies for Accelerated Depreciation | Recession Resistant Concept
North Carolina Broker of Record: Charles Gallagher | 201 S. Tryon St., Ste. 1220 Charlotte, NC 28202 | P: (804) 802-6881 | Lic #: 351471 | Charles.Gallagher@MarcusMillichap
North Carolina Broker of Record: Charles Gallagher | 201 S. Tryon St., Ste. 1220 Charlotte, NC 28202 | P: (804) 802-6881 | Lic #: 351471 | Charles.Gallagher@MarcusMillichap
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
16,900 SF
Building Class
B
Year Built
2016
Price
$8,085,000
Price Per SF
$478.40
Cap Rate
6.25%
NOI
$505,297
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
4.50 AC
Zoning
TF-CZ
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- 16,900 SF
- -
- Triple Net
- Nov 2031
Caliber was founded in 1997 and began with collision centers in California before growing into a national automotive services business. The company focuses on collision repair, auto glass repair and replacement, and related auto care services through its family of brands. Caliber's collision repair services are supported by repair processes, certifications, and relationships with major insurance carriers and vehicle manufacturers. Today, Caliber maintains a broad presence across the United States and continues to expand its service network for drivers needing post-collision and glass repair support.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | 16,900 SF | - | Triple Net | Nov 2031 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
20/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 0742.08-98-7022-000 | Improvements Assessment | $5,389,437 |
| Land Assessment | $2,416,932 | Total Assessment | $7,806,369 |
Property Taxes
Parcel Number
0742.08-98-7022-000
Land Assessment
$2,416,932
Improvements Assessment
$5,389,437
Total Assessment
$7,806,369
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CALIBER COLLISION | ABSOLUTE NNN | 1290 Pine Plaza Dr