1480 W Chinden Blvd - Freestanding FOR SALE


Meridian, ID 83646
$2,477,550 USD
858-544-6808
1480 W Chinden Blvd, Meridian, ID for Sale
$2,477,550 USD
Freestanding - FOR SALE
1/6
null | 5.35% Cap Rate

1480 W Chinden Blvd
Meridian, ID 83646


HIGHLIGHTS

  • High Traffic - Fred Meyer (Kroger) Anchored Center
  • Established Store & Below Market Lease
  • Affluent & Growing Community - $167K+ Avg HH Inc
  • Located within 2 City Blocks of 7+ Schools
  • Outstanding Frontage on Chinden Blvd
  • Surrounded by Leading Retailers

OVERVIEW

KW Commercial has been exclusively retained to offer for sale a Corporate Starbucks in Meridian, ID (Boise MSA). Located within Eagle Island Marketplace, and an outparcel to one of the top 3 visited Fred Meyer grocery stores in the state of Idaho, this store is well positioned for continued sales growth. Average HH income, within 1 mile of the subject property, is $167k+. There are 7+ schools (elementary, middle and high schools) within 2 city blocks of the subject property. Nearby retailers include McDonalds, Winco, Taco Bell, O’Reilly and Chase Bank, among many others. Starbucks executed a 10 year corporate lease and opened this new construction store in early 2020, right in the middle of COVID. Due to the strength of this tenant, and the fact that this property lies within the a leading grocery anchored shopping center, there was no doubt the store would be a success. There are approximately 5+ years remaining on the initial lease term, and the tenant has 4 - 5 year options to extend the lease. The lease does not contain an “early lease termination” clause. The rent increases 10% every 5 years (next increase is 5/1/30), including the same 10% increases during option periods. Starbucks’ store is tastefully designed (interior and exterior), has an efficient drive thru, and is situated on a highly visible 0.84 acre parcel.

FOR SALE DETAILS

PRICE

$2,477,550 USD

PRICE/SF

$1,126 USD /SF

CAP RATE

5.35%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Starbucks

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Fast Food, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2020

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.84 AC

LAND SF

36,590 SF

ZONING

C-3-DA

APN/PARCEL ID

R5176900550

ASK ABOUT THIS PROPERTY

Ryan LitrichREvolve Growth PartnersMore Info
858-544-6808

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Ryan LitrichREvolve Growth PartnersMore Info
858-544-6808

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.