1704 S Lewis St - Auto Repair FOR SALE
New Iberia, LA 70560 |
$725,000 USD
407-557-3859
1704 S Lewis St
New Iberia, LA 70560
HIGHLIGHTS
- Automotive Repair Investment with National Tenant
- Attractive 7.10% Cap Rate | 1.5% Annual Rent Bumps
- Business Recently Acquired by Gerber Collision| 700+ Locations
- 20% Below Market Rent at $5.78/SF (According to CoStar) | Allows for Sustainable Long-Term Commitment to the Location
- Recent Capital Expenditures include New HVAC Units, Roof & External Metal Siding
- Upside through Leasing 1,700 SF of Office Space
FOR SALE DETAILS
PRICE
$725,000 USD
PRICE/SF
$74 USD /SF
CAP RATE
7.1%
% LEASED
80%
TENANCY
Multiple
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Gerber Collision | Annual Rent Bumps
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Auto Repair
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1990
SPRINKLERS
-
PARKING SPACES
-
LAND DETAILS
LAND ACRES
1.4 AC
LAND SF
60,984 SF
ZONING
-
APN/PARCEL ID
0200661000
ASK ABOUT THIS PROPERTY
Please correct the highlighted field(s).
407-557-3859
By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.
Please correct the highlighted field(s).
407-557-3859
By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.
