3111 1st Ave - Auto Repair FOR SALE


Spearfish, SD 57783
$1,600,000 USD
602-538-7155
3111 1st Ave, Spearfish, SD for Sale
$1,600,000 USD
Auto Repair - FOR SALE
1/5
null | 5% Cap Rate

3111 1st Ave
Spearfish, SD 57783


HIGHLIGHTS

  • Long term primary lease (±19 years remaining)
  • Corporate lease
  • Brand new high quality construction
  • Absolute NNN Ground Lease - no landlord responsibilities
  • Les Schwab Tire Centers has over 540 locations across 13 states in the Western U.S.
  • Extremely low rent

OVERVIEW

INVESTMENT HIGHLIGHTS • Corporate lease • Long term primary lease (±19 years remaining) • Brand new high quality construction • Extremely low rent • Absolute NNN Ground Lease - no landlord responsibilities • Rental increases every 5 years to hedge against inflation TENANT HIGHLIGHTS • Substantial annual sales above $2 Billion • Les Schwab Tire Centers has over 540 locations across 13 states in the Western U.S. • Founded in 1952, over 72 years in the business with over 7,000 employees • Les Schwab has invested significantly in the site by building their own building and maintaining it LOCATION HIGHLIGHTS • Hard corner location adjacent to a Walmart Supercenter • Neighboring national credit retailers such as Dollar Tree, Tractor Supply Co, Bomgaars, Sherwin-Williams, AutoZone, and more • Home to Black Hills State University, 3,346 total students • Situated along 1st Avenue, a primary commercial corridor with high visibility and accessibility

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$150 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Long Term Absolute NNN Les Schwab Tire Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

ADD'L SUBTYPES

Service Station, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

32202-00200-080-00

ASK ABOUT THIS PROPERTY

Chris HollenbeckCushman & WakefieldMore Info
602-538-7155

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Chris HollenbeckCushman & WakefieldMore Info
602-538-7155

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