Caliber Collision Luxury
$2,040,000
5605 Westpark Dr, Charlotte, NC 28217
For Sale
Retail
Active
Last Updated: 11/03/2022
5
Cap Rate
102,000
NOI
Details:
Cap Rate: 5%
NOI: $102,000
Building Size: 17,375 sqft
Lot Area: 1.35 acres
Year Built: 1984
Highlights:
- Double Net Lease Structure - Requires Minimal Landlord Responsibilities.
- Caliber "Luxury" Site - Certified in repairs for Aston Martin, Audi, Bentley, Jaguar, Land Rover and Volkswagen.
- Tenant Exercised 5-Year Renewal in 2019 Representing Strong Commitment to Site - Recent Improvements to Both Roofs at Tenant's Expense.
- Largest Collision Repair Operator in America with 600+ Locations.
- Below Market Rent - $5.87 per sqft.
- 20 Bays Combined Between Both Buildings.
- Brand New Heating Unit Replaced in Paint/Body Shop.
- One, Five-Year Option Period Remaining with Rental Escalations.
- Two Buildings (8,880 & 8,475) Totaling 17,375 Square Feet Situated on 1.35 Acres of Land.
- High Traffic Counts on Tyvola Road - 52,000 VPD+/- | Immediate access to I-77 which provides 160,000 VPD+/-.
- Strong Population within a 5-Mile Radius: 193,400 people - 9.19% population growth rate by 2024.
- Average Household Income within a 3-Mile Radius: $80,000.
- National Tenant's Surrounding Investment Property: Costco, McDonald's, Circle K, Hilton, Wells Fargo, Bentley, Aston Martin, and more.
Description:
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