3205 NE 4th St - Auto Repair FOR SALE


Renton, WA 98056
$3,300,000 USD
425-455-3131
3205 NE 4th St, Renton, WA for Sale
$3,300,000 USD
Auto Repair - FOR SALE
1/17
null | 5.59% Cap Rate

3205 NE 4th St
Renton, WA 98056


HIGHLIGHTS

  • NEW 14-YEAR CORPORATE LEASE Recently executed 14-year base lease with Classic Collision, providing long-term contractual income and tenant commitment.
  • INSTITUTIONALLY BACKED NATIONAL TENANT Classic Collision operates 330+ locations across more than 20 states and is supported by TPG, a global.
  • ANNUAL 2.5% RENTAL INCREASES Built-in 2.5% annual rent escalations provide consistent income growth and meaningful inflation-resistant protection.
  • Passive investment structure (NNN) with the tenant responsible for most property expenses
  • PASSIVE NET-LEASE INVESTMENT STRUCTURE The lease structure provides passive ownership with minimal landlord responsibilities.
  • PROVEN OPERATING LOCATION – 32 YEARS Collision repair operations have successfully operated at this location since 1992,.

OVERVIEW

Linc Properties is pleased to present the opportunity to acquire a passive single-tenant net-leased investment property with a new 14-year base lease to one of the nation’s largest collision repair companies, Classic Collision. The property is centrally located in Renton, Washington one of Seattle’s desirable and growing “Eastside” submarkets. The investment is secured by a new 14-year corporate lease with Classic Collision following its acquisition of the long-established Renton Collision center that has been in continuous successful operation at this location for over 32 years. The new acquisition included a newly structured long-term lease with 2.5% annual increases and a passive operating expense structure offering excellent inflation-resistant and predictable returns. Classic Collision is one of the largest collision repair operators in the United States, operating more than 330 locations across over 20 states. The company continues to expand through the acquisition of established operators and is supported by institutional ownership through TPG, a leading global private investment firm with over $200 billion in assets under management. The property has a very well-established operating history and is proven well suited for continued success benefiting from its central regional location, easy access to Interstate 405 and excellent visibility to over 31,000 vehicles driving each day. This offering provides the passive investor with the opportunity to acquire a stable investment property with a new long term secure lease with established rental growth and inflation-resistant protection guaranteed by a large national operator all in a proven core Seattle/Bellevue area submarket.

FOR SALE DETAILS

PRICE

$3,300,000 USD

PRICE/SF

$290 USD /SF

CAP RATE

5.59%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Classic Collision | 14 Yr. Corporate NNN

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1977

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.85 AC

LAND SF

37,026 SF

ZONING

CA, Renton

APN/PARCEL ID

162305-9112

ASK ABOUT THIS PROPERTY

Brian LeibsohnLinc PropertiesMore Info
425-455-3131

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Brian LeibsohnLinc PropertiesMore Info
425-455-3131

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