2602 Main StMerrill, WI 54452

Property Details for 2602 Main St

Year built

2018

Lot size

1.12 AC

Property size (Sq ft)

11,840 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a 11,840 square foot, single-tenant net lease property occupied by Caliber Collision, a national leader in collision repair with over 1,700 locations. Located at 2602 E Main St, Merrill, WI 54452, this property sits on a 1.12-acre lot and boasts excellent visibility on a major thoroughfare with convenient access to US Highway 51. The building, constructed in 2018, features a metal roof and benefits from a strong tenant profile with a corporate guarantee. The current lease, commencing February 10, 2024, and expiring February 28, 2034, offers a remaining term of 9.3 years with two 5-year options. The lease includes 2% annual rent increases throughout the initial term and option periods, ensuring consistent income growth. The property's strong financials include a $1,422,000 asking price, a 6.75% cap rate, and a net operating income (NOI) of $96,000. The asking price per square foot is $120.10. Surrounding tenants include well-known national brands such as O'Reilly Auto Parts, Verizon, Kwik Trip, Walmart Supercenter, Tractor Supply, Dollar Tree, and McDonald's, further enhancing the property's desirability and location. This is a rare opportunity to acquire a high-quality, net-leased property with a strong tenant and significant upside potential. The property is 100% occupied.

Location Insight

City

Merrill

County

Lincoln

State

Wisconsin

Latitude

45.1798

Longitude

-89.6631

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