267 N Milwaukee St - Restaurant FOR SALE


Boise, ID 83704- West Bench
$5,000,000 USD
206-826-5787
267 N Milwaukee St, Boise, ID for Sale
$5,000,000 USD
Restaurant - FOR SALE
1/7
null | 6.6% Cap Rate

267 N Milwaukee St
Boise, ID 83704
West Bench


HIGHLIGHTS

  • Trophy Location in Heart of Boise MSA on Signalized Hard-Corner (113,000+ VPD)
  • AAA Retail Trade Area Across from Boise Town Center (7.8 M Annual Visitors)
  • 4.5 Year Absolute Net Lease / Zero Landlord Responsibilities | Corporate Guarantee
  • 10% Rent Increases in Options
  • Strong, 23-Year Historical Occupancy
  • High Barrier-to-Entry Submarket with Low Vacancy Rate & Strong Rent Growth | Boise MSA One of the Fastest-Growing Markets in the U.S.

OVERVIEW

Marcus & Millichap’s Brown Retail Group is pleased to exclusively present for sale an Absolute Net Red Robin Gourmet Burgers & Brews located in Boise, ID. The property features over 6.5 years of remaining lease term with four, five-year renewal options, offering investors long-term, passive income. It is strategically located directly across from Boise Town Center which receives over 7.8 million annual visitors, according to Placer.ai. The surrounding trade area includes numerous national retailers including Target, REI, Macy’s, Nordstrom Rack, Best Buy, Apple, and Dick’s Sporting Goods. The property operates under an absolute net lease, eliminating all landlord responsibilities and ensuring a truly passive investment. It is corporately guaranteed by Red Robin International, Inc., a wholly owned subsidiary of Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB), which operates nearly 500 locations nationwide and reported revenues exceeding $1.25 billion in 2024. The lease includes rare 2.5% annual rent increases during the option periods, providing a built-in hedge against inflation. The property sits at the signalized hard-corner intersection of N Milwaukee St and Westpark St/Steelhead Way, with combined traffic counts exceeding 32,000 vehicles per day, offering excellent visibility and convenient access. Red Robin has operated successfully at this location since 2002, featuring 23 years of consistent performance and tenant commitment. The surrounding submarket has experienced over 6% population growth since 2020, now exceeding 253,000 residents within a five-mile radius, with an additional 13% growth projected over the next five years. The Boise MSA continues to rank among the fastest-growing markets in the US, with a nearly 25% population increase from 2014 to 2024. Idaho’s overall population has grown nearly 20% during that time, with much of that expansion concentrated in the Treasure Valley (Boise MSA), further supporting the long-term viability of this investment.

FOR SALE DETAILS

PRICE

$5,000,000 USD

PRICE/SF

$706 USD /SF

CAP RATE

6.6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Red Robin

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1991

SPRINKLERS

-

PARKING SPACES

81

LAND DETAILS

LAND ACRES

1.24 AC

LAND SF

54,014 SF

ZONING

MX-3

APN/PARCEL ID

R9316730090

ASK ABOUT THIS PROPERTY

Clayton BrownMarcus & MillichapMore Info
206-826-5787

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Clayton BrownMarcus & MillichapMore Info
206-826-5787

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