2025 E Saginaw Hwy
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2025 E Saginaw Hwy
18,077 SF 100% Leased Retail Building Haslett, MI 48840 $3,502,656 ($194/SF) 7.50% Cap Rate
Investment Highlights
- 18,077 SF Collision Right Repair Center.
- Corporate Guaranteed Lease by CollisionRight, LLC
- New 10 Year NNN Lease with a 2% annual Rent increases and two, 5-year Renewal Options.
Executive Summary
Fortis Net Lease is pleased to present a Collision Right Repair Center at 2025 E Saginaw St. in East Lansing, MI. This ten-year double net lease has minimal landlord responsibilities and ten years remaining on the initial term. The lease features 2% annual rent increases and two, five-year options. The lease is guaranteed by CollisionRight, LLC a leading consolidator of automotive collision repair shops in the United States.
The subject property is strategically located in East Lansing, home of Michigan State University. The surrounding area has over 93,000 residents within 5 miles. The median household income within 5 miles exceeds $85,000. There are over 39,000 households within 5 miles.
Founded in 2020, CollisionRight has acquired 100 collision repair shops in the past three and a half years, establishing the Company as the 6th largest consolidator and provider of collision repair services in the United States. The Company and its skilled repair technicians aim to provide high-quality, reliable repairs for consumers, using modern technology, paint, and parts, and to be an equally reliable partner to the Company’s insurance carrier partners who pay for the overwhelming majority of repairs undertaken by CollisionRight.
The subject property is strategically located in East Lansing, home of Michigan State University. The surrounding area has over 93,000 residents within 5 miles. The median household income within 5 miles exceeds $85,000. There are over 39,000 households within 5 miles.
Founded in 2020, CollisionRight has acquired 100 collision repair shops in the past three and a half years, establishing the Company as the 6th largest consolidator and provider of collision repair services in the United States. The Company and its skilled repair technicians aim to provide high-quality, reliable repairs for consumers, using modern technology, paint, and parts, and to be an equally reliable partner to the Company’s insurance carrier partners who pay for the overwhelming majority of repairs undertaken by CollisionRight.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Repair
Building Size
18,077 SF
Building Class
B
Year Built
1974
Price
$3,502,656
Price Per SF
$194
Cap Rate
7.50%
NOI
$262,699
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.06
Land Acres
6.99 AC
Zoning
C-2 - Commercial
Parking
40 Spaces (1 Space per 1,000 SF Leased)
Frontage
302 FT on E Saginaw Hwy
Amenities
- Signage
PROPERTY TAXES
| Parcel Number | 02-02-03-102-008 | Improvements Assessment | $291,200 |
| Land Assessment | $165,200 | Total Assessment | $456,400 |
PROPERTY TAXES
Parcel Number
02-02-03-102-008
Land Assessment
$165,200
Improvements Assessment
$291,200
Total Assessment
$456,400
-
Chris Elliott -
Fortis Net Lease
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2025 E Saginaw Hwy
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