SRS Real Estate Partners Brokers $5.24M Sale of New Caliber Collision Property in Chula Vista
SRS Real Estate Partners has completed the $5.24 million sale of a newly constructed Caliber Collision property at 742 Main Street in Chula Vista, California, the firm announced Aug. 17. The 16,832-square-foot auto body facility, situated in south San Diego County, sold with a 15-year corporate-guaranteed absolute triple-net lease in place and traded above its asking price at a 5.5% capitalization rate.
Deal Details and Principals
SRS Capital Markets Senior Managing Principals Matthew Mousavi and Patrick Luther, along with Vice President Greg Labarre, represented the seller, a Southern California-based developer. The buyer was a Southern California family trust, a buyer profile typical of private capital and 1031-exchange demand in the single-tenant net-lease market.
At $5.24 million on 16,832 square feet, the transaction equates to approximately $311 per square foot. The property's net operating income of $283,920 aligns with the 5.5% cap rate. The asset was built in 2026 and is 100% occupied by Caliber Collision under a corporate guarantee.
"This property had a significant amount of investor interest and sold over the asking price, which was a 5.5% cap rate," said Luther. "This long-term tenant is poised to do significant business as it is located near multiple auto dealerships and auto service retailers and is in a densely populated area with more than 348,200 residents, and 81,200 employees within a one-mile radius."
Mousavi described the investment profile as well-suited to its new owner. "This was an ideal, fee-simple, low-maintenance opportunity for the new owner as it presents minimal property management responsibilities," he said.
Site Context and Development
The Caliber Collision property is one component of a larger new development that SRS Real Estate Partners is marketing individually. The full project, which includes Starbucks, Quick Quack Car Wash, Taco Bell, Circle K, and Chipotle, carries a total projected value of approximately $30 million, with each pad being separately marketed and available for sale by SRS.
The site sits less than one mile from Interstate 805 and Chula Vista Crossings, a Kohl's-anchored retail center, placing it within an established regional retail corridor. The surrounding trade area counts more than 348,200 residents and 81,200 employees within a one-mile radius. Proximity to multiple auto dealerships and service retailers further supports the tenant's business prospects.
Pricing in Market Context
The 5.5% cap rate on this transaction sits meaningfully below prevailing national benchmarks for the collision repair sector. Single-tenant net-lease collision properties nationally averaged cap rates of approximately 6.65% in the first quarter of 2026, while the broader auto service category averaged around 6.15%. Overall single-tenant retail net-lease cap rates stood at roughly 6.55% during the same period.
For collision assets with 11 to 15 years of remaining lease term, national median asking cap rates have hovered near 6.8%. The Chula Vista deal's 5.5% cap reflects the coastal Southern California infill location, a newly constructed building with a full 15-year lease term remaining, and a corporate-guaranteed lease structure that limits landlord obligations. The property's sale above asking price signals active investor demand for long-term net-lease retail in the region.
SRS Capital Markets Activity
SRS Real Estate Partners reported that its capital markets division has completed more than $1.6 billion in deal volume across more than 450 transactions nationally so far this year. The firm currently has more than 900 properties actively on the market with a combined market value exceeding $4.3 billion.
Founded in 1986 and headquartered in Dallas, SRS Real Estate Partners operates 30 offices nationwide and provides commercial real estate services across retail, industrial, and capital markets.
Related Articles
