Prairieville, LA - Gerber Collision

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a, Gerber Collision and Glass investment property located in Prairieville, Louisiana. The tenant, Gerber Collision and Glass, recently signed a brand new 5-year lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases at the beginning of each of the 5-year option periods, steadily growing NOI and providing a hedge against inflation. The lease has minimal landlord responsibilities making it an ideal, low management investment opportunity for a passive investor. Gerber Collision is one of the largest private auto collision and glass repair companies in North America with over 800 locations.

The property is located near the signalized, hard corner intersection of Airline Highway (US Highway 61) and LA-73 which combine to average over 61,000 vehicles passing daily. The asset benefits from significant frontage and visibility from Airline Highway. Airline Highway is the major retail and commuter thoroughfare serving the Baton Rouge MSA. It is also in close proximity to national/credit tenants including a Walmart Supercenter, Albertsons, Dollar Tree, CVS Pharmacy, Chick-fil-A, Taco Bell, Raising Cane’s, and Sherwin-Williams. The asset is adjacent to Interstate 10, which averages over 103,000 vehicles per day. The nearby trade area has experienced steady population growth of over 2% annually over the past decade, adding more than 17,000 new residents since 2010. The population within a 5-mile radius is projected to grow by more than 3,100 residents by 2030, indicating sustained growth and long-term stability. The 5-mile trade area is supported by a population of over 80,000 residents and 25,000 employees with an average household income of $140,000.