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Gerber Collision 1704 S Lewis St 11,000 SF 100% Leased Retail Building New Iberia, LA 70560 $684,310 ($62.21/SF) 7.97% Cap Rate
Investment Highlights
- National tenant operating under the Gerber Collision & Glass brand.
- Three additional five-year renewal options provide future occupancy potential.
- Located along South Lewis Street within an established commercial corridor.
- Lease term extends through July 20, 2028.
- Annual rental increases of 1.5% are built into the lease structure.
- Tenant reimburses taxes and insurance expenses per lease terms.
Executive Summary
1704 S Lewis Street presents the opportunity to acquire a net leased commercial investment occupied by Gerber Collision & Glass, one of the largest collision repair and automotive glass service providers in North America. The property consists of an 11,000-square-foot commercial building positioned along South Lewis Street, a primary commercial corridor serving New Iberia and the surrounding Acadiana region. The location benefits from established commercial development, nearby residential neighborhoods, and convenient access to major local thoroughfares that support daily customer traffic and business visibility.
The property is leased to Gerber Collision & Glass through July 20, 2028, with three five-year renewal options and scheduled annual rental increases of 1.5%. Gerber Collision & Glass operates as part of Boyd Group Services Inc. and maintains an extensive network of locations throughout the United States and Canada. The tenant's established operating platform and long-standing presence within the automotive repair industry contribute to the property's investment profile.
The lease structure provides reimbursement of taxes and insurance expenses, helping reduce landlord operating responsibilities. The asset generates a reported net operating income of $54,553 and is offered at a price of $684,310. The combination of an established national tenant, contractual rent growth, renewal options, and a location within a mature commercial trade area creates an opportunity for investors seeking income-producing real estate with an operating business already in place.
The property is leased to Gerber Collision & Glass through July 20, 2028, with three five-year renewal options and scheduled annual rental increases of 1.5%. Gerber Collision & Glass operates as part of Boyd Group Services Inc. and maintains an extensive network of locations throughout the United States and Canada. The tenant's established operating platform and long-standing presence within the automotive repair industry contribute to the property's investment profile.
The lease structure provides reimbursement of taxes and insurance expenses, helping reduce landlord operating responsibilities. The asset generates a reported net operating income of $54,553 and is offered at a price of $684,310. The combination of an established national tenant, contractual rent growth, renewal options, and a location within a mature commercial trade area creates an opportunity for investors seeking income-producing real estate with an operating business already in place.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Auto Repair
Building Size
11,000 SF
Building Class
C
Year Built
1990
Price
$684,310
Price Per SF
$62.21
Cap Rate
7.97%
NOI
$54,540
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.18
Lot Size
1.40 AC
Fairly walkable
50/100
Exceptionally drivable
90/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 0200661000 | Improvements Assessment | $28,036 |
| Land Assessment | $12,628 | Total Assessment | $40,664 |
Property Taxes
Parcel Number
0200661000
Land Assessment
$12,628
Improvements Assessment
$28,036
Total Assessment
$40,664
Contacts
-
Sal Yaldo -
Ayson Shammami -
Divon Shammami -
APEX Commercial Real Estate Advisors
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