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215 S Creasy Ln 8,246 SF Retail Building Lafayette, IN 47905 $2,390,000 ($289.84/SF) 6.79% Cap Rate
Investment Highlights
- Corporate guaranty — lease guaranteed by Wand Newco 3, Inc., parent of Caliber Collision, the largest collision repair operator in the U.S.
- Prime signalized corner — 8,246 SF on 0.87 acres with full drive-around access and 10 grade-level roll-up doors
- Proven location — Caliber acquired the prior operator, Collision Express, at this site and leased the real estate to continue running it
- 2% annual rent increases — every year of the term and both renewal options, no flat periods. Yield grows to 7.50% by base-term expiration
- Fronts South Creasy Lane at 26,282 VPD, 2,200 feet south of SR 26 & Creasy, the busiest intersection in Tippecanoe County at 32,069 VPD
- Growth market — nearly $6 billion of announced investment across Greater Lafayette, led by SK hynix's $3.87 billion semiconductor plant
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Repair
Building Size
8,246 SF
Building Class
C
Year Built/Renovated
1996/2023
Price
$2,390,000
Price Per SF
$289.84
Cap Rate
6.79%
NOI
$162,365
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
0.87 AC
Zoning
GB - GB
Parking
46 Spaces (5.58 Spaces per 1,000 SF Leased)
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 79-07-26-251-004.000-004 | Improvements Assessment | $1,474,600 |
| Land Assessment | $0 | Total Assessment | $1,474,600 |
Property Taxes
Parcel Number
79-07-26-251-004.000-004
Land Assessment
$0
Improvements Assessment
$1,474,600
Total Assessment
$1,474,600
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215 S Creasy Ln