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3325 Aerie Dr
Casper, WY 82604
Les Schwab Ground Lease · Retail Property For Sale
Investment Highlights
- New 20-year absolute NNN lease to Les Schwab, a regional U.S.-based tire retailer and automotive service center operator with over 500 locations
- Corporately guaranteed by LS Group Parent OpCo, LLC, strengthening investment security
- In December 2024, Les Schwab acquired Four States Tire & Service, reinforcing its regional expansion strategy.
- 10% rental increases every five (5) years throughout initial term and six (6) option periods, ideal for ensuring consistent income growth.
- Tenant covers all taxes, insurance, and maintenance, including roof, structure, and parking lot, providing a fully passive investment.
- Les Schwab’s growth in 2025 is supported by a larger, growing U.S. automotive service market and aging vehicle fleet.
Executive Summary
High-visibility location near the signalized four-way intersection of Wyoming Boulevard Southwest and Plaza Drive, providing excellent access and exposure. The lease is corporately guaranteed by LS Group Parent OpCo, LLC, enhancing credit strength. The five-mile radius serves a population of 60,017, with average annual household income of $97,588 within one mile. The property benefits from proximity to State Route 220, which provides direct access to Downtown Casper and carries traffic counts of approximately 26,189 AADT. The absolute NNN ground lease structure transfers all maintenance and expense responsibilities to the tenant, including roof, structure, and parking lot. Projected population and income growth within the 1-, 3-, and 5-mile trade areas support long-term demand in the Casper MSA.
Property Facts
Sale Type
Investment NNN
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
10,599 SF
Building Class
C
Year Built
2025
Price
$3,705,627 CAD
Price Per SF
$349.62 CAD
Cap Rate
5%
NOI
$185,223 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
1.50 AC
Parking
46 Spaces (4.34 Spaces per 1,000 SF Leased)
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