NNN Collision Repair
For Sale
Contact for pricing
258 N Hill Blvd, Burlington, WA 98233
Long-term NNN lease with minimal landlord responsibilities for a collision repair shop operated for more than 24 years.
Property Size7,020 SF
Price / SF$276.35
Days on Market141
Property Features for 258 N Hill Blvd
General Information
Standard status
Active
Size
7,020 SF
Property subtype
RETAIL
Site & Location
Traffic Count
54,000 vehicles/day
Highway Access
Yes
Listing Agency:
Marcus & Millichap, Inc.
(206) 826-5700
Listed By:
Clayton Brown · License #WA:123258,ID:SP56979
(206) 826-5787
Source:
Moodyscre
Added: Apr 20
Changed: Aug 19
Last Checked: Jul 22 at 2:59PM
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 Marcus & Millichap, Inc.
Investment Insights
Based on property information with market context.
This NNN collision repair facility is operated as a collision repair shop and has been in use for more than 24 years. The property is available for sale as part of a long-term lease structure with minimal landlord responsibilities, and the lease is backed by Crash Champions, LLC, a national collision repair operator with more than 650 locations across 38 states. The lease includes 3.00% annual rent increases throughout the initial term and option periods.
The property is located in an automotive corridor with signage visibility to I-5, and the remarks cite 54,000+ VPD. The area is described as having limited nearby competition and established traffic patterns.
According to the provided information, there is approximately 90,000 residents within a 10-mile radius and average household incomes exceeding $108,000. The remarks also note Washington’s lack of state income tax as a factor supporting after-tax returns.
The property is located in an automotive corridor with signage visibility to I-5, and the remarks cite 54,000+ VPD. The area is described as having limited nearby competition and established traffic patterns.
According to the provided information, there is approximately 90,000 residents within a 10-mile radius and average household incomes exceeding $108,000. The remarks also note Washington’s lack of state income tax as a factor supporting after-tax returns.
Key Highlights
- Long‑term 12+ year NNN lease with minimal landlord responsibilities for a collision repair shop
- Backed by Crash Champions, LLC, a national collision repair operator with 650+ locations across 38 states
- 3.00% annual rent increases throughout the initial term and option periods
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$59,275
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.06%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,185,500
$1.2M
Cap Rate 7%
$846,786
$846.8K
Cap Rate 9%
$658,611
$658.6K
Market Conditions
NOI Build-Up for 7,020 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$85.9K $12.24/SF
− Vacancy
−$1.2K −$0.18/SF
EGI
$84.7K $12.06/SF
− OpEx
−$25.4K −$3.62/SF
NOI
$59.3K $8.44/SF
Area
Skagit County, WA
Vacancy
1.45%
Lease Rate
$12.24 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,185,500
Cap Rate 7%
$846,786
Cap Rate 9%
$658,611
Alternative Uses
Best Use
Industrial
$846.8K
$740.9K – $987.9K
NOI $59,275 @ 7.0% cap · market cap 3.06%
Second Best
Retail
$846.8K
$740.9K – $987.9K
NOI $59,275 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$2.86M
$2.50M – $3.33M
NOI $199,857 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
54,000 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
87
Businesses Nearby
916
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 100%
Ferguson
Home Improvements & Furnishings
916 visits/mo
0.2 miles
Demographics for 98233, WA
16,034
Population
7,295
Households
2.2
Avg Household Size
38
Median Age
23%
College-Educated
90%
High-School Grad
33.2 sq mi
ZIP Area
483
Density / Sq Mi
$83,560
Median Household Income
$43,697
Median Earnings
$1,567
Median Rent
$466,300
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Long-term NNN lease with minimal landlord responsibilities for a collision repair shop operated for more than 24 years.
Where is this auto shop located?
The property is located at 258 N Hill Blvd Burlington, WA.
What is the asking price?
The asking price for this property is $1,940,000.
What are key features of this property?
This property features: Long‑term 12+ year NNN lease with minimal landlord responsibilities for a collision repair shop; Backed by Crash Champions, LLC, a national collision repair operator with 650+ locations across 38 states; 3.00% annual rent increases throughout the initial term and option periods
