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Caliber Collision | NNN Lease 4416 Merle Hay Rd 5,455 SF Retail Building Des Moines, IA 50310 $1,525,000 ($279.56/SF) 6.78% Cap Rate
Investment Highlights
- Corporate Lease with Caliber Collision - Nation’s Largest Autobody Repair Company
- Long-Term Triple Net Lease through 2031 - Two 5-Year Options with Fair Market Rent Upside
- Located on Merle Hay Road "Dealership Row“ - Surrounded by Kia, Ford, Nissan & Other Major Auto Dealers
- Lease Backed by Corporate Guaranty - Guaranteed by Wans Newco 3, Inc. (Caliber Parent Entity)
- Built-In 2% Annual Rental Increases - Hedge Against Inflation with Steady NOI Growth
- Strong Market Fundamentals - Population of 187,000+ within a Five Mile Radius
Executive Summary
This offering presents a rare opportunity to acquire a property leased to Caliber Collision, the nation’s largest auto body repair company, under a long-term triple net lease extending through 2031. The lease is backed by a corporate guaranty from Wans Newco 3, Inc., the parent entity of Caliber, ensuring strong credit reliability. Investors benefit from built-in 2% annual rental increases, providing consistent income growth and a hedge against inflation, along with two 5-year renewal options featuring fair market rent adjustments.
The property is strategically positioned along Merle Hay Road, a well-known “Dealership Row” surrounded by high-traffic auto dealerships including Kia, Ford, and Nissan. This dominant co-tenancy aligns with Caliber’s business model, creating strong captive demand for collision repair services. Market fundamentals further support the asset’s performance, with more than 187,000 residents within a 5-mile radius and average household incomes exceeding $102,000.
Located in Iowa’s largest metropolitan statistical area, the Des Moines metro boasts a population of approximately 707,000 and continues to experience robust growth of 4.5%. The site benefits from Caliber’s proven operational history, having been successfully integrated into the network following its 2021 acquisition under a sale-leaseback structure. This combination of credit-backed tenancy, predictable rent escalations, and a thriving location makes this property an attractive investment with long-term stability and upside potential.
The property is strategically positioned along Merle Hay Road, a well-known “Dealership Row” surrounded by high-traffic auto dealerships including Kia, Ford, and Nissan. This dominant co-tenancy aligns with Caliber’s business model, creating strong captive demand for collision repair services. Market fundamentals further support the asset’s performance, with more than 187,000 residents within a 5-mile radius and average household incomes exceeding $102,000.
Located in Iowa’s largest metropolitan statistical area, the Des Moines metro boasts a population of approximately 707,000 and continues to experience robust growth of 4.5%. The site benefits from Caliber’s proven operational history, having been successfully integrated into the network following its 2021 acquisition under a sale-leaseback structure. This combination of credit-backed tenancy, predictable rent escalations, and a thriving location makes this property an attractive investment with long-term stability and upside potential.
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Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Repair
Building Size
5,455 SF
Building Class
B
Year Built
1996
Price
$1,525,000
Price Per SF
$279.56
Cap Rate
6.78%
NOI
$103,342
Tenancy
Single
Building Height
1 Story
Building FAR
0.34
Lot Size
0.37 AC
Zoning
C-H
Parking
10 Spaces (1.83 Spaces per 1,000 SF Leased)
Frontage
78’ on Merle Hay Rd
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
20/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 312-02092000000 | Improvements Assessment | $201,000 |
| Land Assessment | $220,000 | Total Assessment | $421,000 |
Property Taxes
Parcel Number
312-02092000000
Land Assessment
$220,000
Improvements Assessment
$201,000
Total Assessment
$421,000
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Caliber Collision | NNN Lease | 4416 Merle Hay Rd
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