Gerber Collision & Glass

839 Foote Ave Jamestown, NY 14701

FOR SALE
Property Type:
Street Retail
Amount:
$1,595,000
Last Verified:
Jun 17, 2019

Highlights

  • Gerber Collision & Glass
  • 8%+ Capitalization Rate
  • 5+ Years Remain on Lease
  • Net Lease Structure - NNN
  • 2 - Five Year Options

Description

Lamb Net Lease LLC is proud to offer FOR SALE, Gerber Collision & Glass, a Vehicle Related, Single Tenant Investment Property, located in Jamestown, New York. Current 10 year lease runs through October 31st, 2024, and then has (2) Two, 5 year renewal options with escalations. Current Lease Rate is $120,000 / yr. Total site is 3.0 acres, with existing structures of 10,118+/- SF. SBA Communications Corporation has a cell tower on the property subject to long term land lease. SBA is listed on NASDAQ under the symbol: SBAC and our organization is also part of the S&P 500. Also, SBA is among one of the top 20 Real Estate Investment Trusts (REIT) based on market capitalization. Listing in co-operation with Real Estate Advantage, New York Broker.

Gerber Collision & Glass is a Subsidiary Company of The Boyd Group Income Fund, traded on the Toronto Stock Exchange TSX Symbol: BYD.UN As of the end of Q2 2017, the Company had a Market Capitalization of $1.6B and operated over 350 Gerber Collision & Glass locations in the United States.

The Boyd Group Income Fund is an unincorporated, open-ended mutual fund trust created for the purposes of acquiring and holding certain investments, including a majority interest in The Boyd Group Inc. and its subsidiaries. The Boyd Group Inc., directly and through subsidiaries, is one of the largest operators of non-franchised collision repair centers in North America in terms of number of locations and one of the largest in terms of sales. The Company operates locations in five Canadian provinces under the trade name Boyd Autobody & Glass, as well as in 20 U.S. states under the trade name Gerber Collision & Glass. The Company uses newly acquired brand names during a transition period until acquired locations have been rebranded. The Company is also a major retail auto glass operator in the U.S. with locations across 31 U.S. states under the trade names Gerber Collision & Glass, Glass America, Auto Glass Service, Auto Glass Authority and Autoglassonly.com.

The Company also operates a third-party administrator, Gerber National Claims Services (“GNCS”) that offers glass, emergency roadside and first notice of loss services. GNCS has approximately 5,500 affiliated glass provider locations and 4,600 affiliated emergency roadside services providers throughout the U.S.

Property is located less than 1.5 miles south of downtown Jamestown, NY.


Year Built: 1960
Building Size: 10118.0sq ft
Lot Size: 3.0 acres

Map of 839 Foote Ave, Jamestown, NY, 14701

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Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

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