Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Caliber Collision, a 37,448 square foot auto repair shop located in Lexington, KY.
Dustin R. Alvino, First Vice President of Investments at Marcus & Millichap’s Las Vegas office exclusively represented the buyer in this transaction. The asset sold for $6,675,000 with a capitalization rate of 6.29%. The property is located at 987 Beasley St, Lexington, KY 40509. Additional notes include a brand new 15-year NNN as of August 1, 2020, with 10% rent increases commenced Q1 2020, and a densely populated area (202,038 within a 5-mile radius). Household income exceeds $70,000 within a 5-mile radius.
For more information regarding the sale of Caliber Collision or if you have any other questions relating to net lease investments, please do not hesitate to reach out to Dustin R. Alvino.
Dustin R. Alvino | (702) 215-7120