Current Use by Public Records
- Caliber Collision / Auto Repair Shop
- One Way Collision Center / Auto Repair Shop
Property Details for 2602 Main St
- Year built
- 2018
- Lot size
- 1.12 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a 11,840 square foot, single-tenant net lease property occupied by Caliber Collision, a national leader in collision repair with over 1,700 locations. Located at 2602 E Main St, Merrill, WI 54452, this property sits on a 1.12-acre lot and boasts excellent visibility on a major thoroughfare with convenient access to US Highway 51. The building, constructed in 2018, features a metal roof and benefits from a strong tenant profile with a corporate guarantee. The current lease, commencing February 10, 2024, and expiring February 28, 2034, offers a remaining term of 9.3 years with two 5-year options. The lease includes 2% annual rent increases throughout the initial term and option periods, ensuring consistent income growth. The property's strong financials include a $1,422,000 asking price, a 6.75% cap rate, and a net operating income (NOI) of $96,000. The asking price per square foot is $120.10. Surrounding tenants include well-known national brands such as O'Reilly Auto Parts, Verizon, Kwik Trip, Walmart Supercenter, Tractor Supply, Dollar Tree, and McDonald's, further enhancing the property's desirability and location. This is a rare opportunity to acquire a high-quality, net-leased property with a strong tenant and significant upside potential. The property is 100% occupied.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Merrill
- County
- Lincoln
- State
- Wisconsin
- Longitude
- -89.6631
- Latitude
- 45.1798
