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Phone: 916-403-1812

Email: McKenney.Houck@cushwake.com

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Caliber Collision, Middleton, ID

Caliber Collision, Middleton, ID


Investment Summary

Price $5,816,000
Cap Rate 6.50%
NOI $378,000
Lease Term 15 years
Lease Type Absolute NNN lease, with tenant responsible for all taxes, insurance, and maintenance, including roof, structure, and parking lot
Rental Increases 10% rental increases every five (5) years
Year Built 2024
Building Size 16,345 SF
Lot Size 2.32 acres (101,059 SF)
Status Under Contract
Lead Brokers McKenney Houck
Senior Brokerage Coordinator
916.403.1812
mckenney.houck@cushwake.com
License #CB59026

Investment Highlights

15-YEAR LEASE TO THE LARGEST COLLISION REPAIR COMPANY IN THE U.S.
» New 15-year absolute NNN lease to Caliber Collision, the largest collision repair company in the U.S.
» Caliber Collision has nearly tripled its number of units over the last five years, from 600 in 2018 to over 1,700 and growing as of May 2023
» 10% rental increases every five (5) years in initial term and option periods, offering projected growth over a long-term investment
» Caliber Collision was recognized as the only company of its kind to make the Forbes 2021 list of “America’s Best Large Employers”
» Owned by OMERS Private Equity, which is “AA+” rated by Standard & Poor’s
» With recent trends showing used car sales are booming with a shortage of available new cars, this industry has sparked a significant amount of investor attention
» Given their size and business model, Caliber Collision is strategically positioned to be one of the few major collision repair shops nationwide to be able to handle the upcoming electric car wave
» 2024 construction built to the latest Caliber Collision prototype

PRIME LOCATION NEAR THE CONFLUENCE OF MAJOR IDAHO AND U.S. THOROUGHFARES
» Easily accessible location just off State Route 44/West Main Street, Middleton’s primary east-west thoroughfare traversing the entirety of the city
» High-traffic location near the confluence of Interstate 84, U.S. Route 26, and State Route 44, allowing the site to capture significant commuter traffic (combined 84,000 AADT)
» Excellent proximity to Middleton’s largest housing developments and major traffic drivers, including the West Highlands Master Planned Community (192 acres, 700 lots), Stonehaven (225 residential lots), Lakes at Telaga (120 units), Crescent Lake (105 lots), Hartley Townhomes (58 units), and Downtown Boise (28 miles)

RAPIDLY GROWING BOISE SUBURB POISED TO EXPAND CONCURRENTLY WITH CALIBER COLLISION
» It is estimated that over 94% of Middleton residents that are employed leave Middleton to work in other cities, cementing Middleton’s standing as a community heavily reliant on dependable transportation
» 61,413 residents live within five miles of the property, providing a large and reliable customer base for the site
» The site is supported by an affluent community, with an average annual household income of $95,867 within a three-mile radius
» The population in Middleton is projected to grow to 12,374 residents by 2030 (22% increase) and 14,089 by 2040 (39% increase), poising Caliber Collision and Middleton for steady concurrent growth
» Public transit accounts for only 1.5 percent of those commuting to work in Middleton, showcasing the communities reliance on reliable personal transportation

Property Description

» This Caliber Collision has an easily accessible location just off State Route 44/West Main Street, Middleton’s primary east-west thoroughfare traversing the entirety of the city
» The property is centrally located near the confluence of Interstate 84, U.S. Route 26, and State Route 44, allowing the site to capture significant commuter traffic (combined 84,000 AADT)
» It is estimated that over 94% of Middleton residents that are employed leave Middleton to work in other cities, cementing Middleton’s standing as a community heavily reliant on dependable transportation
» The site greatly benefits from its proximity to Middleton’s largest housing developments and major traffic drivers, including the West Highlands Master Planned Community (192 acres, 700 lots), Stonehaven (225 residential lots), Lakes at Telaga (120 units), Crescent Lake (105 lots), Hartley Townhomes (58 units), and Downtown Boise (28 miles)
» Public transit accounts for only 1.5% of those commuting to work in Middleton, showcasing the communities’ reliance on reliable personal transportation
» The site is supported by an affluent community, with an average annual household income of $95,867 within a three-mile radius

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