Caliber Collision - Everett

5505 Evergreen Way Everett, WA 98203

FOR SALE
Property Type:
Free Standing Building
Amount:
$5,696,000
Last Verified:
2019-10-03 22:44:49 UTC

Highlights

  • 5.00% CAP Rate
  • National credit NNN investment - Caliber Collision signature on lease
  • Caliber Collision is the largest auto repair company in the nation
  • 15+ year of auto repair tenancy (Precision Collision, ABRA Auto Body and Glass, Caliber Collision)
  • Minimal landlord responsibility
  • Recent expansion within existing building showing commitment to location; now 100% occupied by Caliber Collision
  • Caliber Collision and Landlord are in preliminary discussions to extend the lease to 2028
  • Enterprise subtenant offers synergy with Caliber Collision
  • High visibility location with over 30,000 cars per day along Evergreen Way
  • Must close by the end of 2019 - Seller looking at all offers

Description

Caliber Collision Everett is a single tenant NNN investment opportunity comprised of a 19,318 square foot auto body repair center on 1.66 acre lot on Evergreen Way. Formerly an ABRA Autobody and Glass location, Caliber Collision merged to become one of the largest collision repair providers with over 1000 locations in 37 states. Caliber Collision has a lease in place until May 31, 2023, and holds two options to extend the term of lease for five years, each. Each option includes an 8% rental increase. Caliber Collision and Landlord are in preliminary discussions to extend the lease to 2028.

Benefiting from its location along Evergreen Way, one of primary North/South thoroughfares, Caliber Collision is in close proximity to dozens of major retailers, auto dealers, and other industries including one of the regions largest employers, Boeing.

Centrally located on Evergreen Way one of the main thoroughfares of Everett connecting Boeing and south Everett to Downtown Everett.


Year Built: 1972
Building Size: 19318.0sq ft
Lot Size: 1.66 acres

Map of 5505 Evergreen Way, Everett, WA, 98203

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