Description

Gerber Collision & Glass occupies this 11,000-square-foot automotive service property at 1704 South Lewis Street in New Iberia. Offered at $684,310, the asset generates $54,553 in annual net operating income, representing a 7.97% capitalization rate and a price of approximately $62.21 per square foot.

The property is fully occupied under a double-net lease that began July 21, 2023 and runs through July 20, 2028. Contractual rent increases of 1.5% annually provide scheduled income growth, and the tenant holds three additional five-year renewal options. The lease is backed by Gerber Collision & Glass, part of Boyd Group Services, a national collision-repair operator.

The freestanding facility is configured for automotive service and benefits from dedicated parking, vehicle-staging capacity, and frontage on a commercial corridor surrounded by established businesses and residential neighborhoods. The offering combines a nationally recognized tenant, defined rental growth, and a management-light NN structure for investors seeking an occupied service-retail asset.