Cap Rate: 6.50%
Net Operating Income: $235,320
Lot Size: 1.62 AC
Year Built: 2013
The subject offering is a 15,350 square-foot Caliber Collision situated on 1.62 acres in Colorado Springs, Colorado. The fee simple net lease is corporately guaranteed by Caliber Collision.
This net lease calls for minimal landlord obligations. The landlord is responsible for roof, structure, and parking lot. The tenant has two, 5-year renewal options with annual CPI increases. The building is ideally located on a major retail thoroughfare. Neighboring tenants include Chick-fil-A, Sprouts Market and Carl’s Jr.
Colorado Springs is a home rule municipality that is the largest city by area in Colorado as well as the county seat and the most populous municipality of El Paso County, Colorado. Colorado Springs is located in the east central portion of the state. It is situated on Fountain Creek and is located 60 miles (97 km) south of the Colorado State Capitol in Denver.
At 6,035 feet (1,839 m) the city stands over 1 mile (1.6 km) above sea level, though some areas of the city are significantly higher and lower. Colorado Springs is situated near the base of Pikes Peak, which rises 14,115 feet (4,302 m) above sea level on the eastern edge of the Southern Rocky Mountains. The city is home to 24 national governing bodies of sport, including the United States Olympic Committee, the United States Olympic Training Center, and USA Hockey.