Eagle, Idaho. Commerical Tire- Ground Lease Eagle Island Marketplace Eagle, Idaho Offering Memorandum. Commercial Tire Ground Lease

Transcription

1 Cmmerical Tire- Grund Lease Eagle Island Marketplace Eagle, Idah Offering Memrandum Prperty Amenities: Established Trade Area within existing shpping center Excellent Visibility Strng Demgraphics Fred Meyer Anchred Center Cmmercial Tire Grund Lease Eagle, Idah Exclusively represented by: Eisenberg Cmpany Full service cmmercial real estate 2710 E Camelback Rad, Suite 210 Phenix, AZ Jasn R. Eisenberg Vice President f Develpment

2 Investment Highlights Eisenberg Cmpany is pleased t ffer fr sale, an Abslute NNN Grund Lease (land and building), Cmmercial Tire, lcated in Eagle, Idah. The Cmmercial Tire building is an utparcel pad t the Eagle Island Marketplace Shpping Center, which features tenants such as: Fred Meyer Grcery (Krger), McDnald s, Tac Bell, Verizn Wireless, Epic Car Wash and Idah Credit Unin and several ther natinal credit tenants. Cmmercial Tire has apprximately 19 years remaining in the current term and features 10% increases every five years. Which generate steady NOI grwth. Current 20 Year Term: Annualized $ 156, Annually Years 1-5 $ 171, Annually Years 6-10 $ 188, Annually Years $ 207, Annually Years $ 228, Annually Years Tenant has three (3) five year ptins at 10% increases Cmmercial Tire has 41 lcatins in Idah, Utah, Oregn and Washingtn In 2015, industry news magazine Mdern Tire Dealer listed Cmmercial Tire under their Tp 100 Independent Tire Dealers and Tp 25 Cmmercial Tire Dealers, ranked #30 and #16 respectively. Bb has als received hnrable mentin by the Idah Business Review fr his wrk as an influential CEO. Page 2

3 Prperty Specificatins: Prperty Lcatin: Age f Prperty: Built in 2016 NEC f Linder Rd. and Chinden Blvd. Eagle, Idah Building Size: Area: Prperty Address: Zning: 8,406 grss square feet 1,388 Lube Pit/Basement 1.68 Acres 6538 Nrth Linder Rad C-3DA City f Eagle The riginal stre was funded in 1968 by J.R. "Bb" Schwenkfelder, in dwntwn Bise, Idah. The stre remains active t this day amng an ever-grwing expansin f stres thrughut Idah, Oregn, Washingtn, and Utah. Their crprate headquarters resides in Meridian, Idah, and is managed by Bb and his sn Trent. Parcel # R Ownership: Fee Simple Grund Lease (Land Only) Guaranty: Crprate Pricing: $ 2,850,000 An imprtant factr in the cmpany's success was Bb's acquiring f the Bridgestne tire line in 1969, a time when it was fairly new t the US market and yet t grw ppular. Bridgestne is still ne f Cmmercial Tire's featured tire brands, alng with Firestne, Cper, and Ykhama tires. CAP Rate: 5.47 % Net Operating Incme: $ 156, Annually Years 1-5 $ 171, Annually Years 6-10 $ 188, Annually Years $ 207, Annually Years $ 228, Annually Years Page 3

4 Prperty Summary: The subject prperty is ideally lcated alng Linder Rad and Chinden Blvd. The Eagle Island Marketplace Shpping Center supprts a large cmmunity with strng demgraphics. Excellent visibility with a signalized intersectin with fur access pints. Adjacent t the Fxtail Residential Estates alng with several ther new planned residential develpments, Phase I f this develpment included the 188,000 sf Fred Meyer Grcery and Gas Statin, and ver 31,000 sf f retail shp space as well as McDnald s Restaurant, Idah Credit Unin, Tac Bell, Epic Car Wash and Cmmercial Tire buildings. Phase II will cnsist f minimajrs and are scheduled t be begin cnstructin in the Spring f Cmmercial Tire Lcatins 2016 DEMOGRAPHICS: 3 mile 5 mile Ppulatin: 67, ,398 Average Husehld Incme: $ 95,876 $ 80, DEMOGRAPHICS: 3 mile 5 mile Ppulatin: 75, ,297 Average Husehld Incme: $ 108,034 $ 93,038 Page 4

5 NEC f Linder Rd. and Chinden Blvd. Eagle, Site Plan: Scale nt t exact prperty lines Subject Prperty Page 5 Signalized Intersectin

6 Aerial: EAGLE ISLAND MARKETPLACE Future Algdn Medical Park Future Rapid Recvery Center f Phenix (80 beds) Page 6

7 Eisenberg Cmpany Full service cmmercial real estate 2710 E Camelback Rad, Suite 210 Phenix, AZ NEC f Linder Rd. and Chinden Blvd. Eagle, Idah Jasn R. Eisenberg Vice President f Develpment & Acquisitins jasn@eisenbergcmpany.cm