Freestanding Collision Repair
For Sale
Contact for pricing
2118 & 2140 W 1st Street, Springfield, OH 45504
Automotive service property occupied under a modified NNN lease with renewal options and annual rental escalations.
Property Size15,376 SF
Price / SF$125.21
Days on Market55
Property Features for 2118 & 2140 W 1st Street
General Information
Standard status
Active
Size
15,376 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$122,251
Building Details
Buildings
1
Tenancy
Single
Abandoned
No
Listing Agency:
Savills
Listed By:
Addison Williams · License #MI 6501406933
Source:
Crexi
Added: Aug 12
Changed: Oct 4
Last Checked: Oct 4 at 9:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Savills
Investment Insights
Based on property information with market context.
This freestanding automotive collision repair facility contains 15,376 square feet and is fully leased to Caliber Holdings LLC, which has occupied the property since December 2022. The lease runs through December 31, 2032, with approximately 6.4 years remaining on the initial term and two additional five-year renewal options. The lease is guaranteed by WAND NEWCO 3, Inc.
Structured on a modified NNN basis, the lease assigns responsibility for the roof, skylights, structural components, foundation, parking lot, HVAC, and in-ground plumbing to the landlord. Contractual rent increases are set at 2.00% annually. The property is located at 2118 & 2140 W. 1st Street in Springfield, Ohio.
Structured on a modified NNN basis, the lease assigns responsibility for the roof, skylights, structural components, foundation, parking lot, HVAC, and in-ground plumbing to the landlord. Contractual rent increases are set at 2.00% annually. The property is located at 2118 & 2140 W. 1st Street in Springfield, Ohio.
Key Highlights
- 15,376‑square‑foot freestanding automotive collision repair facility
- 100% leased to Caliber Holdings LLC
- Approximately 6.4 years remain on the initial lease term
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,183
Cap Rate
3.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,263,660
$1.3M
Cap Rate 7%
$902,614
$902.6K
Cap Rate 9%
$702,033
$702.0K
Market Conditions
NOI Build-Up for 15,376 SF
Gross rent
$98.6K $6.41/SF
− Vacancy
−$8.3K −$0.54/SF
EGI
$90.3K $5.87/SF
− OpEx
−$27.1K −$1.76/SF
NOI
$63.2K $4.11/SF
Area
Clark County, OH
Vacancy
8.42%
Lease Rate
$6.41 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,263,660
Cap Rate 7%
$902,614
Cap Rate 9%
$702,033
Alternative Uses
Best Use
Industrial
$902.6K
$789.8K – $1.05M
NOI $63,183 @ 7.0% cap · market cap 3.28%
Second Best
Retail
$859.9K
$752.4K – $1.00M
NOI $60,192 @ 7.0% cap · market cap 3.13%
Theoretical Best
Specialty Retail
$4.29M
$3.75M – $5.00M
NOI $300,217 @ 7.0% cap · market cap 15.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
527
Businesses Nearby
117k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 39%
Home Improvements & Furnishings 33%
Dining 14%
Apparel 10%
Rural King
Home Improvements & Furnishings
37,198 visits/mo
0.4 miles
Ollie's Bargain Outlet
Shops & Services
17,415 visits/mo
0.4 miles
Bob Evans Restaurant
Dining
10,619 visits/mo
0.4 miles
Bargain Hunt
Shops & Services
10,127 visits/mo
0.4 miles
Dunham's Sports
Apparel
8,345 visits/mo
0.4 miles
Demographics for 45504, OH
17,343
Population
7,100
Households
2.4
Avg Household Size
41
Median Age
27%
College-Educated
92%
High-School Grad
22.0 sq mi
ZIP Area
788
Density / Sq Mi
$67,334
Median Household Income
$38,813
Median Earnings
$889
Median Rent
$167,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Similar Off Market Nearby
- Gates Brothers Glass Shops — 704 N Bechtle Ave, Springfield, OH 45504
- Dee Oil LLC — 820 N Bechtle Ave, Springfield, OH 45504
- Integrity Automotive Repair, Inc. — 1420 Klobdenz Ave, Springfield, OH 45504
- Hometown Express Lube & Car Care Center — 820 N Bechtle Ave, Springfield, OH 45504
- Springfield Truck Center — 1343 Klobdenz Ave, Springfield, OH 45504
Frequently Asked Questions
What type of property is this?
Auto shop - Automotive service property occupied under a modified NNN lease with renewal options and annual rental escalations.
Where is this auto shop located?
The property is located at 2118 & 2140 W 1st Street Springfield, OH.
What is the asking price?
The asking price for this property is $1,925,215.
What are key features of this property?
This property features: 15,376‑square‑foot freestanding automotive collision repair facility; 100% leased to Caliber Holdings LLC; Approximately 6.4 years remain on the initial lease term
