FOR SALE INDUSTRIAL INVESTMENT OPPORTUNITY

Transcription

1 FOR SALE INDUSTRIAL INVESTMENT OPPORTUNITY 2266 E. COMMERCIAL STREET MERIDIAN, ID Fastest growing city in Idaho and 6th fastest growing city in the U.S. PRESENTED BY:

2 OVERVIEW PRICING Sales Price: $1,200,000 CAP Rate: 7.00% PHYSICAL ATTRIBUTES Size: 10,287 SF Year Built: 2001 Zoning: I-L (Light Industrial) Land: 0.92 Acres Construction: Steel Stud Framing, Metal Roof INVESTMENT HIGHLIGHTS Sale-Leaseback - Absolute net No Landlord responsibilities Tenant has been in business in the Treasure Valley for over 15 years, and has operated out of this building for the last 12 years Tenant will sign a new 5 year lease, with a 5 year option at closing PROPERTY SUMMARY Lee & Associates Idaho is pleased to present an absolute net industrial investment opportunity E Commercial Street is strategically located in Meridian, Idaho, the 6th fasting growing city in the United States. The building has fire suppression throughout and the yard space around the building is paved. The 2,150 square foot office space is appointed with high-end marble and granite finishes, and the space consists of 5 offices, showroom, reception area, breakroom and men s and women s restrooms. There is 2,150 square feet of mezzanine space above the finished office space available for office expansion. The 8,137 square foot warehouse/production area has four overhead doors, five man doors, Reznor gas heaters, fabrication room, restroom and an overhead crane. There is ample power with 600A - 480V, 3PH service. The building has two stores front which would allow for easy conversion to a two tenant building sometime in the future, if desired.

3 SALE - LEASEBACK Tenant Size (SF) % GLA Rent/Month Rent/Year Rent SF/Mo Annual Rent Increases Lease Start Lease Expire Advanced Marble and Granite 10, $7,000 $84,000 $0.68 2% At Closing TBD Tenant will execute a new, 5 year lease with a 5 year option and 2% annual increases upon closing. Tenant will pay all expenses, no landlord responsibilities. TENANT OVERVIEW Tenant: Advanced Marble & Granite Size: 10,287 Square Feet At ADVANCED Marble & Granite they have a team of stone artisans and technicians specializing in the detailed fabrication and precise installation of granite, marble, travertine, limestone, soapstone, slate, HanStone, Caesar Stone, Zodiaq, and LG Viatera. They welcome direct retail and commercial customers, builders, contractors, interior designers and architects. Their specialties include kitchen countertops, bathroom vanity tops and back splashes, shower and bathtub surrounds, tub decks, fireplaces, wet bars and tile installation. Commercial applications include tile flooring, wall cladding, reception area countertops, wall art, restaurant/bar, hotels and condominiums. From their comprehensive show room to their expert designers and installers, ADVANCED Marble & Granite is a rock solid decision for your remodel, new construction or commercial project.

4 FLOOR PLANS 2266 E. COMMERCIAL STREET Stairs to Mezzanine

5 PROPERTY AERIAL 2266 E. Commercial Street E. COMMERCIAL STREET

6 AREA AMENITIES MAP E. FAIRVIEW AVENUE - 30,000 VPD N. LOCUST GROVE ROAD - 20,000 VPD E. PINE AVENUE - 12,000 VPD N. EAGLE ROAD - 51,000 VPD E. FRANKLIN ROAD - 17,000 VPD

7 LOCATION MAP 2266 E. COMMERCIAL STREET

8 LOCATION LOCATION HIGHLIGHTS - MERIDIAN SUBMARKET ADA COUNTY Located in Meridian, with easy access to interstate I % increase in population since 2000 Fastest growing city in Idaho, and 6th fastest growing city in the U.S. Labor force has grown by over 31,000 since 2006, with 3.4% growth between 2015 and 2016 alone 2nd lowest property tax in the country 18,000 acre health and sciences corridor, which attracts dozens of new businesses each year 3rd most improved state for business, and 1st most friendly state for small business *Statistics derived from commerce.idaho.gov

9 AREA STATISTICS AND OVERVIEW BOISE, IDAHO Boise, Idaho is the state capital, the third largest city in the Pacific Northwest, and the county seat of Ada County. Located on the Boise River in southwestern Idaho, the population of Boise is currently 241,368. Once a hub for extraction industries, the city is now a center for high tech, agribusiness, food processing, shared services, manufacturing and state government. The major employers located in Boise include Albertsons, J.R. Simplot Company, Idaho Pacific Lumber Company, Idaho Timber, WinCo Foods, Bodybuilding.com and Clearwater Analytics. Other major industries have a presence in Boise such as Hewlett Packard and Wal-Mart. ADA COUNTY INDUSTRIAL MARKET The Ada County industrial market has million square feet of industrial space. As of the second quarter 2017, the vacancy rate was 3.6%. Year to date, the County has absorbed 219,419 square feet of industrial space. MERIDIAN INDUSTRIAL MARKET The Meridian industrial submarket is located north of Interstate 84, west of Eagle Road and south of Chinden Boulevard. As of the end of second quarter 2017, there were 409,595 square feet of industrial product in the Meridian submarket. The current vacancy rate as of the second quarter was 2.0% after a year to date absorption of 17,429 square feet. DEMOGRAPHICS POPULATION 1 MILE 3 MILE 5 MILE 2017 Total Population: 4,789 91, , Population: 5, , ,674 Pop Growth : 8.62% 9.44% 9.27% Average Age: HOUSEHOLDS 2017 Total Households: 1,849 32,554 70,956 HH Growth : 9.52% 9.88% 9.57% Meidan Household Inc.: $47,500 $62,775 $64,520 Avg Household Size: Avg HH Vehicles: HOUSING Median Home Value: $203,046 $207,525 $213,413 Median Year Built:

10 802 W. Bannock Street, 12th Floor Boise, ID leeidaho.com