1124 Carpenter Rd SE - Auto Repair FOR SALE


Lacey, WA 98503- East Olympia
$3,525,000 USD
253-334-3761
1124 Carpenter Rd SE, Lacey, WA for Sale
$3,525,000 USD
Auto Repair - FOR SALE
1/4
null | 6.69% Cap Rate

1124 Carpenter Rd SE
Lacey, WA 98503
East Olympia


HIGHLIGHTS

  • Early Lease Extension | 7 Years of Term Remaining
  • Attractive 3% Annual Rent Increases
  • Strong Corporate Guarantee | 800+ Locations Nationwide
  • Priced Below Replacement Cost | Attractive Price/SF ($183/SF)
  • Well Maintained Property with Recent Capital Improvements
  • Strategic Auto-Oriented Corridor | Established Automotive Use

OVERVIEW

Brown Retail Group of Marcus & Millichap has been selected to exclusively market for sale a Gerber Collision & Glass in Lacey, WA. The property features 7 years of firm lease term remaining, following a lease extension two years early from Gerber, demonstrating strong tenant commitment to the site. The lease features attractive 3% annual rent increases and is corporately guaranteed by Gerber Collision & Glass, with over 1,000 locations nationwide. The property has been well maintained with recent capital improvements including approximately $63,000 in plumbing line replacements. The lease features minimal landlord responsibilities, restricted to roof and structural elements only, providing a passive investment structure. Offered at approximately $183 per square foot, the property presents an opportunity to acquire a mission-critical collision repair facility at a basis significantly below new construction costs. The property is strategically positioned along Carpenter Road SE within an established auto-oriented corridor surrounded by complementary automotive and service tenants, and is located with convenient access to major roadways supporting efficient customer access and regional draw. Investors additionally benefit from Washington State's income tax-free structure.

FOR SALE DETAILS

PRICE

$3,525,000 USD

PRICE/SF

$180 USD /SF

CAP RATE

6.69%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Gerber Collision & Glass

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

ADD'L SUBTYPES

Service Station

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1965

SPRINKLERS

-

PARKING SPACES

28

LAND DETAILS

LAND ACRES

1.17 AC

LAND SF

51,048 SF

ZONING

CBD 5

APN/PARCEL ID

11822220900

ASK ABOUT THIS PROPERTY

Dylan WolfMarcus & MillichapMore Info
253-334-3761

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Dylan WolfMarcus & MillichapMore Info
253-334-3761

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