Gerber Collision
PRICE
CAP RATE
SQUARE FOOTAGE
LEASE TERM

CONTACT US REGARDING THIS LISTING

Douglas Passon

Managing Partner

Robert Bender

Managing Partner

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PROPERTY ADDRESS

1620 & 1630 Airport Rd., Waterford, MI 48327

PROPERTY INFORMATION

Price:
$1,858,064
Cap Rate:
7.75%
Term Remaining:
10 Years
Year Built:
1983
Status:
Available

INVESTMENT HIGHLIGHTS

  • 10 Year NNN Lease | Minimal Landlord Responsibilities
  • CPI Increases or 10% in Yr. 6 | 3, 5 Yr. Options w/ 10% Increases
  • The Lease is Corporately Guaranteed by The Boyd Group (U.S.) Inc., a Canadian-based Income Fund who Recently Purchased the Collision Experts Enterprise
  • The Boyd Group Income Fund Currently has 302 Locations Nationwide & is Rapidly Expanding through Acquisitions Similar to Collex

INVESTMENT SUMMARY

Fortis Net Lease is pleased to present a Gerber Collision & Glass at 1620/1630 Airport Road in Waterford, MI. This ten year NNN lease has minimal landlord responsibilities and will expire June 30, 2024. The rent is currently $10,000 per month but will increase to $12,000 per month on June 1, 2017. The lease features CPI increases or 10% in the sixth year as well as three, five year options with ten percent increases. The lease is also guaranteed by The Boyd Group (U.S.) Inc.

This investment property is surrounded by many national retailers such as: Dollar Tree, Panera Bread, O’Reilly Auto Parts, Planet Fitness, AutoZone, Rite Aid, Kroger, Aldi, Family Dollar, Burger King and Starbucks. The surrounding area has 145,000+ residents within 5 miles and a 4.46 percent pro-jected growth rate within one mile by 2020. The median home value within five miles exceeds $156,000 and the average household income exceeds $77,000.