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Auto Service - Gas-Conv

Caliber Collision w/ 2% Annual Increases | Hampton Roads | Long Term Lease | Densely Populated Area

7615 Merritt St, Norfolk (Hampton Roads), VA 23513

Listing Price: $1,515,405

Cap Rate
6.00%
Tenant Name
Caliber Collision
Years Remaining On Lease
11.5
Gross SF
7,520
Guarantor
Corporate Guarantee
Rentable SF
7,520
Price/Gross SF
$201.52
Lease Type
Double Net
Rent Per Square Feet
$12.09

Investment Overview

Norfolk is an independent city in the Commonwealth of Virginia. In 2019, the population was estimated to be 242,742 making it the third-most populous city in Virginia after neighboring Virginia Beach and Chesapeake, and the 91st-largest city in the nation. The city was incorporated in 1705 and is one of the oldest cities in Hampton Roads metropolitan area, and is considered to be the historic, urban, financial, and cultural center of the region. Norfolk is at the core of the metropolitan area, surrounding the Hampton Roads natural harbor at the mouth of the Chesapeake Bay. It is one of nine cities and seven counties that constitute the Hampton Roads metro area, officially known as the Virginia Beach-Norfolk-Newport News, VA-NC MSA. The city is bordered to the west by the Elizabeth River and to the north by the Chesapeake Bay. It also shares land borders with the independent cities of Chesapeake to its south and Virginia Beach to its east. As the city is bordered by multiple bodies of water, Norfolk has many miles of riverfront and bayfront property, including beaches on the Chesapeake Bay. The coastal zones are important for the economy. The largest naval base in the world, Naval Station Norfolk, is located in Norfolk along with one of NATO’s two Strategic Command headquarters.

Investment Highlights

  • Long Term Net Lease Featuring 2% Annual Rental Increases throughout the Initial Term and Options. Features Below Market Rent.
  • Caliber Collision Recently Merged with ABRA creating a Leading Collision Repair Chain of more than 1,235 Locations in 39 States.
  • Dominant Leadership: Hellman & Friedman, Private Equity Firm with Over $25 Billion of Total Assets, is the Majority Owners after Merger.
  • Positioned Along Area's Traffic & Retail Corridor. Features Easy Access and Excellent Visibility. Adjacent to E Little Creek Rd which Features Daily Traffic Counts Exceeding 23k Vehicles.
  • Hampton Roads is known for its Large Military Presence, Shipyards, Coal Piers, and Miles of Waterfront Property, all of which contribute to the Diversity and Stability of the Region's Economy.
  • In Close Proximity to Numerous Auto Dealerships, Auto Service Centers, Light Industrial and Manufacturing Plants.
  • Minutes from Norfolk International Airport - the Fourth-Busiest Airport in Virginia in terms of Passengers Served (3.9M+ Annually).
  • Densely Populated Area: Features more than 239k People Residing within a 5-Mile Radius. Surrounded by Numerous National Retailers including a Walmart Supercenter, Food Lion, Walgreens, Rite Aid, Harris Teeter and more.

Exclusively Listed By

Broker of Record

  • Dawson Rinder

    Associate Regional Manager

    (804) 205-5008

    License(s) VA: 0225215181

    Virginia

Auto Service - Gas-Conv

Caliber Collision w/ 2% Annual Increases | Hampton Roads | Long Term Lease | Densely Populated Area

Listing Price: $1,515,405

Cap Rate
6.00%
Tenant Name
Caliber Collision
Years Remaining On Lease
11.5
Gross SF
7,520
Guarantor
Corporate Guarantee
Rentable SF
7,520
Price/Gross SF
$201.52
Lease Type
Double Net
Rent Per Square Feet
$12.09

Investment Highlights

  • Long Term Net Lease Featuring 2% Annual Rental Increases throughout the Initial Term and Options. Features Below Market Rent.
  • Caliber Collision Recently Merged with ABRA creating a Leading Collision Repair Chain of more than 1,235 Locations in 39 States.
  • Dominant Leadership: Hellman & Friedman, Private Equity Firm with Over $25 Billion of Total Assets, is the Majority Owners after Merger.
  • Positioned Along Area's Traffic & Retail Corridor. Features Easy Access and Excellent Visibility. Adjacent to E Little Creek Rd which Features Daily Traffic Counts Exceeding 23k Vehicles.
  • Hampton Roads is known for its Large Military Presence, Shipyards, Coal Piers, and Miles of Waterfront Property, all of which contribute to the Diversity and Stability of the Region's Economy.
  • In Close Proximity to Numerous Auto Dealerships, Auto Service Centers, Light Industrial and Manufacturing Plants.
  • Minutes from Norfolk International Airport - the Fourth-Busiest Airport in Virginia in terms of Passengers Served (3.9M+ Annually).
  • Densely Populated Area: Features more than 239k People Residing within a 5-Mile Radius. Surrounded by Numerous National Retailers including a Walmart Supercenter, Food Lion, Walgreens, Rite Aid, Harris Teeter and more.

Investment Overview

Norfolk is an independent city in the Commonwealth of Virginia. In 2019, the population was estimated to be 242,742 making it the third-most populous city in Virginia after neighboring Virginia Beach and Chesapeake, and the 91st-largest city in the nation. The city was incorporated in 1705 and is one of the oldest cities in Hampton Roads metropolitan area, and is considered to be the historic, urban, financial, and cultural center of the region. Norfolk is at the core of the metropolitan area, surrounding the Hampton Roads natural harbor at the mouth of the Chesapeake Bay. It is one of nine cities and seven counties that constitute the Hampton Roads metro area, officially known as the Virginia Beach-Norfolk-Newport News, VA-NC MSA. The city is bordered to the west by the Elizabeth River and to the north by the Chesapeake Bay. It also shares land borders with the independent cities of Chesapeake to its south and Virginia Beach to its east. As the city is bordered by multiple bodies of water, Norfolk has many miles of riverfront and bayfront property, including beaches on the Chesapeake Bay. The coastal zones are important for the economy. The largest naval base in the world, Naval Station Norfolk, is located in Norfolk along with one of NATO’s two Strategic Command headquarters.

Exclusively Listed By

Broker of Record

  • Dawson Rinder

    Associate Regional Manager

    (804) 205-5008

    License(s): VA: 0225215181

    Virginia

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