121 Pierce St Gilroy, CA 95020-4204

This exceptional investment opportunity presents a 9,145 square foot Caliber Collision auto shop located at 121 Pierce St, Gilroy, CA 95020. The property, built in 1969 and situated on a nearly one-acre lot, boasts 11 repair bays and a dedicated car wash bay with proper drainage. The property is currently 100% occupied under a Modified NNN lease with Caliber Collision, a market leader in collision repair with over 1,700 locations nationwide. The lease, originally commenced April 10, 2015, has recently been extended to April 30, 2030, with two additional five-year options. The lease includes annual rent bumps tied to the CPI, capped at 6.5%. The current asking price is $2,772,114, representing a 5.25% cap rate and a NOI of $145,536. The lease is backed by a corporate guarantee from Caliber Bodyworks LLC, providing significant security for investors. This strategically located property in a major automotive corridor benefits from below-market rent compared to national averages for Caliber Collision locations. The property offers significant advantages, including a long-term lease, strong tenant, and the potential for MACRS depreciation benefits. This is a rare opportunity to acquire a high-performing, stable investment property with a proven track record.