1704 S Lewis St - Auto Repair FOR SALE


New Iberia, LA 70560
$684,310 USD
248-579-5045
1704 S Lewis St, New Iberia, LA for Sale
$684,310 USD
Auto Repair - FOR SALE
1/4
null | 7.97% Cap Rate

1704 S Lewis St
New Iberia, LA 70560


HIGHLIGHTS

  • National tenant operating under the Gerber Collision & Glass brand.
  • Lease term extends through July 20, 2028.
  • Three additional five-year renewal options provide future occupancy potential.
  • Annual rental increases of 1.5% are built into the lease structure.
  • Located along South Lewis Street within an established commercial corridor.
  • Tenant reimburses taxes and insurance expenses per lease terms.

OVERVIEW

1704 S Lewis Street presents the opportunity to acquire a net leased commercial investment occupied by Gerber Collision & Glass, one of the largest collision repair and automotive glass service providers in North America. The property consists of an 11,000-square-foot commercial building positioned along South Lewis Street, a primary commercial corridor serving New Iberia and the surrounding Acadiana region. The location benefits from established commercial development, nearby residential neighborhoods, and convenient access to major local thoroughfares that support daily customer traffic and business visibility. The property is leased to Gerber Collision & Glass through July 20, 2028, with three five-year renewal options and scheduled annual rental increases of 1.5%. Gerber Collision & Glass operates as part of Boyd Group Services Inc. and maintains an extensive network of locations throughout the United States and Canada. The tenant's established operating platform and long-standing presence within the automotive repair industry contribute to the property's investment profile. The lease structure provides reimbursement of taxes and insurance expenses, helping reduce landlord operating responsibilities. The asset generates a reported net operating income of $54,553 and is offered at a price of $684,310. The combination of an established national tenant, contractual rent growth, renewal options, and a location within a mature commercial trade area creates an opportunity for investors seeking income-producing real estate with an operating business already in place.

FOR SALE DETAILS

PRICE

$684,310 USD

PRICE/SF

$62 USD /SF

CAP RATE

7.97%

% LEASED

80%

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Gerber Collision

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

Sal YaldoAPEX Commercial Real Estate AdvisorsMore Info
248-579-5045

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Sal YaldoAPEX Commercial Real Estate AdvisorsMore Info
248-579-5045

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