Description

Caliber Collision is a fully occupied retail property for sale at 2381 Field Street in Odessa, TX. Its 26,494 SF of gross leasable area is leased to Caliber Collision under a 15-year absolute NNN lease, giving investors a defined income stream.

The property spans 1.68 acres and comprises two buildings with 85 parking spaces, a ratio of 3.21 spaces per 1,000 SF. Built in 1973 and renovated in 2001, it has bay doors serving the collision-repair operation. The lease is backed by a corporate guaranty from Wand Newco 3, Inc., with no landlord maintenance or expense responsibilities. Rent increases 10% every five years through the primary term and three, 5-year renewal options.

Caliber Collision sits in the 8th Street automotive corridor, near dealerships and repair shops that place the tenant among related businesses. Traffic along 8th Street is 17,365 AADT. The Odessa College Auto Tech Facility is 0.2 miles away, the University of Texas Permian Basin is 2.7 miles away, and downtown Odessa is 2.2 miles away. Those locations give investors a concrete picture of the property's position within Odessa rather than relying on the address alone.

The asking price is $5,888,342, or $222.25 PSF, with a 5.85% cap rate and $344,468 NOI. A 15 years WALT and scheduled rent increases put the lease term at the center of the investment case, while the absolute NNN structure keeps property expense obligations with the tenant. For buyers focused on tenant commitment and the allocation of operating responsibilities, those terms distinguish this offering from a sale driven primarily by vacant-space leasing. Review the Offering Memorandum in the Offering Materials.