9141 Elkmont Way
9141 Elkmont Way
Region: Elk Grove
Use: Industrial / Office
Lease or Sale: Sale
Building Size: ±28,000 SF Sale Price: $4,950,000
12 year NNN lease plus increases with $1.3Billion company
Turton Commercial Real Estate is pleased to present an outstanding investment opportunity to acquire a single tenant, corporate leased Caliber Collision on a long-term NNN lease within the Sacramento, CA MSA.
Caliber Collision occupies a distinct, highly improved facility at 9141 Elkmont Way, Elk Grove, CA 95624. This facility is Calibers’ designated Geico Repair Shop and their exclusive “recommended” repair shop for Geico customers.
The Tenant will sign a new full twelve (12) year lease commencing at Close of Escrow. The rent rate shall be $24,344 per month NNN (Tenant pays all expenses except structural repairs and roof maintenance) and includes generous 2.5% annual increases.
The asset is being offered for sale at $4,950,000 (approximately $176.79/RSF) representing an initial unleveraged Capitalization Rate of 5.4% and a leveraged year one cash on cash return of 6.50% including principal paydown (assuming 60% LTV, 4.75% interest rate and 25-year amortization). The annual 2.5% rent increases provide an investor with a 9.58% (average) cash on cash return over 12 years and a 13.20% cash on cash return in the 12th year.
The combination of the building’s quality, specialized improvements, infrastructure features, and highly accessible location, as well as the market’s tight inventory and strong user demand, creates one of the most unique industrial investment opportunities in the Sacramento region.
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Sale Price: Negotiable
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