1580 S Clack St - Auto Repair FOR SALE


Abilene, TX 79605
$5,185,000 USD
949-246-0109
1580 S Clack St, Abilene, TX for Sale
$5,185,000 USD
Auto Repair - FOR SALE
1/7
null | 6.25% Cap Rate

1580 S Clack St
Abilene, TX 79605


HIGHLIGHTS

  • Strong Commitment to Site with Rent Increases upon completion of Renovations in Lease
  • Corporate Guarantee with Gerber Collision & Glass
  • 22,005 SQFT of Building Expansion completed in 3 phases between 2014-2019
  • New concrete lot 2014-2019. New Asphalt 2015
  • New roof installed Feb 2024 with new 20 year warranty

OVERVIEW

Graystone Capital Advisors is pleased to present the opportunity to acquire the fee-simple interest in a single-tenant Gerber Collision & Glass property located in Abilene, TX. This investment offers a stable and secure income stream backed by a corporate guarantee from Gerber Collision, one of the leading auto collision and glass repair companies in North America. The property is under a long-term Triple Net (NNN) lease, which commenced on December 14, 2018, with a remaining term of approximately 4.75 years. The lease includes 8% rental increases every five years, providing an attractive hedge against inflation. Additionally, the lease offers three five-year renewal options, ensuring long-term income potential. The property has undergone significant renovation and expansions. An additional 22,005 SQFT of structure was added in phases between 2014 and 2019 with new asphalt and concrete parking installed. Buildings have brand new TPO roof installed in Feb 2024. Located on South Clack Street, a major commercial corridor in Abilene, the property benefits from excellent visibility and high traffic counts. Abilene serves as a regional hub for West Texas, drawing customers from surrounding smaller communities, thus expanding the potential customer base. Abilene’s diverse economy, bolstered by key sectors such as healthcare, education, and the military, ensures a stable economic environment. This offering represents an excellent opportunity for investors seeking a secure, long-term investment with minimal management responsibilities in a growing market.

FOR SALE DETAILS

PRICE

$5,185,000 USD

PRICE/SF

$173 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1979

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.66 AC

LAND SF

202,990 SF

ZONING

GC

APN/PARCEL ID

993319

ASK ABOUT THIS PROPERTY

Kurt HedigerGraystone Capital AdvisorsMore Info
949-246-0109

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Kurt HedigerGraystone Capital AdvisorsMore Info
949-246-0109

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.