Property Location: 517 Stacy Court, Christian Brothers Automotive
Property Description: 4,968-sf, single-story auto repair center, YOC 2014, masonry, single-tenant building, nine overhead doors
Land Size: 24,234 sf
Sales Price: $2.7M, or $543.48 per sf
Reception No: 03518130
Closing Date: 5/16
Grantor: CBH Properties Lafayette LLC, Mark A. Carr, CEO of Christian Brothers Automotive
Grantee: Z Square Properties Company LLC
Comments: There was a 15-year lease with 1.5% annual rent escalatons in the lease, with options, beginning with year 6. The lease is corporate guaranteed. Richard Bird of Marcus & Millichap was the local listing agent. The property is leased at $35.07 per sf. The in-place cap rate is 6.45%, which does not account for vacancy or reserves. Jason Vitorino of Dallas is also shown as a listing broker, 469-844-8880.
Comp of the Day is provided by by John V. Winslow, president of WinComps LLC. Winslow has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or Colprop2012@gmail.com.