This listing is under contract.
Single Tenant NNN Investment Property
2855 Magnolia Ave Magnolia Avenue
St. Louis, MO 63118
UNDER CONTRACT
FOR SALE
Property Type:
Single Tenant Retail (NNN)Amount:
$942,857
Cap Rate:
7.00%Last Verified:
Mar 21, 2024
Investment Opportunity, multi-state autobody shop with 13 locations and growing. New 10-year lease commencing October 1, 2023, with 3% annual rent increases and two 5-year options with The Collision Guys https://www.thecollisionguys.com. This is a great opportunity to own a long-term NNN lease property with great returns. Cap Rate in year 1 is 7% and 9.1% in year 10 giving great appreciation to the investor. This auto body shop was 100% remodeled and expanded in 2015, meeting all EPA regulations as an autobody shop with a paint booth. A new roof was installed in 2023.
Historically, consumers look to repair their vehicles instead of purchasing a new vehicle in a down economy making this an attractive investment with an expanding operator of auto body repair shops.