MIKE PEñA

Transcription

1 OFFERING MEMORANDUM 1075 KUNA RD Kuna Rd & Meridian Rd Kuna, ID 100% Leased New Construction Retail Building in America s Fastest Growing Metro MIKE PEñA mike.pena@colliers.com BRYANT JONES bryant.jones@colliers.com LINCOLN HAGOOD lincoln.hagood@colliers.com Colliers International Idaho 5700 East Franklin Road, Suite 100 Nampa, Idaho

2 Property Overview Profile Address: 1075 East Kuna Road Building Size: 4,054 SF Land Size: 0.49 Acres Parcel: R Zoning: C-2 Value Pricing: $1,100,000 NOI: $72,096 Cap Rate: 6.55% Price/PSF $271 Occupancy: 100% Highlights» New construction, completed Q4 2018» Great Central Kuna location with drive-thru» In-ground grease trap for future use» High visibility and access from Kuna Road» Kuna is one of the fastest growing areas in the Treasure Valley, and in 2018 the Boise area was named the fastest growing city in America Parking: 18 Spaces on-site Year Built: 2018

3 Valuation Suite Tenant Type Lease Start Lease Exp. Deposit Size (SF) Monthly Rent Annualized Rent PSF Freedom Fitness Retail Net 12/1/ /30/2020 $4, , $4, $48, $ Vape Retail Net 11/1/ /31/2023 $2, , $1, $23, $18.00 Total $6, , $6, $72,096 Pricing: $1,100,000 NOI: $72,096 Cap Rate: 6.55%

4 Site Plan E. KUNA ROAD - HIGHWAY 69 EXISTING OVERHEAD POWER LINES VISION TRIANGLE MONUMENT SIGN PROPERTY LINE N 89^14'00"W ' - 0" LANDSCAPE SETBACK 8' - 0" SIDEWALK 30 FT. UTILITY & ACCESS EASEMENT PROPERTY LINE S 00^53'12" E ' 4,054 SQ. FT... 10' - 0" PROPERTY LINE N00^53'12"W IRRIGATION EASEMENT NEW 6 FT. HIGH SOLID BLOCK SCREEN WALL WITH STUCCO FINISH TO MATCH EXISTING DRIVE-THRU LANE 10' - 0" UTILITY EASEMENT PROPERTY LINE NORTH EXISTING 6 FT. HIGH SOLID BLOCK SCREEN WALL WITH STUCCO FINISH

5 Location SITE

6 Demographics 1075 East Kuna Road 1 Mile 3 Miles 5 Miles 10 Min Drive POPULATION 2018 Estimated Population 5,054 21,353 27,661 55, Projected Population 5,746 24,283 31,323 62, Census Population 4,141 16,655 22,651 43,748 Historical Annual Growth % 9.2% 7.8% 7.6% HOUSEHOLD 2018 Estimated Households 1,695 7,015 8,818 18, Projected Households 1,849 7,661 9,633 20, Census Households 1,337 5,282 6,921 14,154 Historical Annual Growth % 9.5% 8.3% 8.3% INCOME 2010 Median Home Value * $222,986 $202,535 $215,093 $225, Median Rent $757 $802 $841 $856 MISC Est. Average HH Income $69,931 $68,253 $70,984 $83, Est. Median HH Income $69,968 $65,068 $67,612 $75, Est. Median Age Average Travel Time to Work Est. Labor Pop. Age 16+ 3,594 15,140 20,154 40, Est. Total HH Expenditure $93.3 M $380 M $490 M $1.16 B *The Wall Street Journal reported in April 2018 that the median price of a single-family home in the Boise area has doubled from $147,000 in 2011 to $297,000 in 2018.

7 Area Overview Kuna Kuna is one of the fastest growing areas of the Treasure Valley, having nearly tripled in population between 2000 and Kuna s undeniable quality of life, affordability and urban proximity make it one of the most desirable places to live in the West.

8 Area Overview Quality of Life Referred to as the Treasure Valley, the region is home to about 675,000 people. The workforce of roughly 330,000, live within a 45-minute draw area. Known for its extraordinary quality of life and affordable cost of living (currently one of the lowest in the western states, according to the ACCRA Cost of Living Index), the Valley is consistently ranked by Forbes, The Wall Street Journal, Livability and Inc. Magazine as one of the best places in the U.S. to live and work. Commuting in the Valley The major interstate serving the Treasure Valley is I-84, running through the metro area s major cities (Boise, Meridian, Nampa and Caldwell). Branching off to the northeast is I-184, which runs into downtown Boise. Daily commutes are easy, with several U.S. and state highways providing direct routes and minimal traffic. The average commute time is only 18 minutes. Public transportation is handled by ValleyRide, Treasure Valley Transit and ACHD Commuteride. What about logistics? There are 50 motor freight companies traveling 5 interstates, 20 U.S. highways and 30 state highways that serve the Boise Valley. More than 1,600 miles of rail line through Union Pacific and Burlington Northern Santa Fe provide connection points to Canada, Mexico and the U.S. They are aided by the state s regional line and 6 short line railroads. Annually, the rail system transports over 11 million tons of freight. Recreation The Boise River runs through downtown and is accessible through a greenbelt system with over 25 miles of bike paths and 850 acres of parks. Up in Foothills you ll find more than 135 miles of nationally acclaimed hiking and mountain biking trails that extend from the city up to Bogus Basin Ski Area. Only 17 miles from the city center Bogus Basin offers winter skiing and summer adventure. With world-class golf courses, hiking, fishing and mountain biking, the recreation opportunities are virtually unlimited within a 30-minute drive. Diversity The City of Boise has been recognized for its work welcoming over 800 new citizens (refugees) each year from over 20 foreign countries. Annual diversity events and resources include PRIDE activities, The Basque Cultural Center, Hispanic Cultural Center and the Black History Museum. More than 90 different languages are spoken in the Boise School District and the Mexican Consulate also has an office in Boise.

9 Area Overview IDAHO TAX OVERVIEW Sales and Use Tax in Idaho is 6%. This would apply to items purchased or consumed in Idaho. Exemptions are available for equipment and raw materials used directly in manufacturing, processing, or fabrication; clean rooms used in semiconductor and semiconductor equipment manufacturing; and any equipment or material used in research and development activities. We do not tax services including telecommunication services, and utilities such as water, gas, electricity, or natural gas. In our region we do not have any local option sales tax. 7% 6% CORPORATE INCOME TAX 1.1% - 1.8% % 1.5% - 2.5% 1.8% 0.82% Idaho does not have an inventory tax. Corporate Income Tax Computed at 7.4% of the Idaho taxable income of a corporation. Corporations that are taxable in Idaho and another state or country or are part of a unitary group of corporations, use a 3 factor formula to ascertain how much of the business is conducted in Idaho. The apportionment formula is made up of a property factor, a payroll factor, and a sales factor. These three factors, with the sales factor being double weighted for all taxpayers except for electrical and telephone companies, are totaled and divided by 4 to compute the Idaho apportionment factor. The Idaho apportionment factor is then applied to the business income of the corporation to compute income assigned to Idaho. Non-business income allocable to Idaho is added to the income apportioned to Idaho to arrive at Idaho taxable income. Colliers International Idaho MINIMUM WAGE SALES & USE TAX 1.91% Property Tax personal (machinery/equipment) and real (land/ buildings) based on market value Rates: Ada County Average Range: Bannock County Average Range: Canyon County Average Range: Elmore County Average Range: Twin Falls County Average Range: $7.25/hr #2 BEST STATE STATE UNEMPLOYMENT INSURANCE RATE 1.6%-7.8% Property tax rate PERSONAL INCOME TAX RATE RANGE Rate range on a bracketed system based on income levels (2013 Tax Foundation Study) 7.1% 755 West Front Street, Suite 300 Boise, Idaho UNION MEMBERSHIP (NAT L AVG: 11.9%) PROPERTY EXEMPTION First $100,000 of personal property is exempt from taxation IDAHO IS A right to work STATE

10 1075 KUNA RD Kuna Rd & Meridian Rd Kuna, Idaho MIKE PEñA BRYANT JONES LINCOLN HAGOOD Colliers International Idaho 5700 E Franklin Road, Suite 100 Nampa, Idaho This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s) All rights reserved