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Gerber Collision & Glass 291 12th St 12,480 SF Retail Building Plainwell, MI 49080 $1,314,000 ($105.29/SF) 7% Cap Rate
Investment Highlights
- Great Investment opportunity with long term NNN lease tenant in place.
- Only nationally recognized collision brand in the Plainwell market. High volume store.
- High visibility location at 12th St with easy access to Interstate-43.
Executive Summary
$94,500 a yr rent NNN; with an increase in 7/2028; 3-5 year options w 5% increases every 5 yrs; Lease since 2015
NN Lease with limited landlord responsibilities make this a passive investment. Corporate Guarantee from The Boyd Group.
Services Group; Gerber currently operates 700 locations.
Roof recently replaced, minimizing long term landlord expenses Parking lot was resealed/restriped in September of 2022.
Only nationally recognized collision brand in the Plainwell market. High volume store.
Seller will provided a current phase 1 ,2 environmental report and survey. 15 yr tenancy services the west side of MI
NN Lease with limited landlord responsibilities make this a passive investment. Corporate Guarantee from The Boyd Group.
Services Group; Gerber currently operates 700 locations.
Roof recently replaced, minimizing long term landlord expenses Parking lot was resealed/restriped in September of 2022.
Only nationally recognized collision brand in the Plainwell market. High volume store.
Seller will provided a current phase 1 ,2 environmental report and survey. 15 yr tenancy services the west side of MI
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Repair
Building Size
12,480 SF
Building Class
C
Year Built
1998
Price
$1,314,000
Price Per SF
$105.29
Cap Rate
7%
NOI
$92,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.21
Lot Size
1.39 AC
Zoning
C - Commercial
Parking
39 Spaces (3.13 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Signage
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 17-025-113-00 | Improvements Assessment | $254,100 |
| Land Assessment | $90,500 | Total Assessment | $344,600 |
Property Taxes
Parcel Number
17-025-113-00
Land Assessment
$90,500
Improvements Assessment
$254,100
Total Assessment
$344,600
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Gerber Collision & Glass | 291 12th St