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3405 & 3409 ARTHUR STREET...Colliers International Idaho | 755 West Front Street, Suite 300 Boise,...
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SALE SUMMARY Industrial Investment property in one of America’s fastest growing markets Colliers International Idaho | 755 West Front Street, Suite 300 Boise, Idaho 83702 | www.colliers.com/idaho | 208 345 9000 LEW MANGLOS, MBA, CCIM, SIOR 208 472 2841 [email protected] DEVIN OGDEN, MBA, CCIM, SIOR 208 472 1668 [email protected] 3405 & 3409 ARTHUR STREET Caldwell, Idaho
Transcript of 3405 & 3409 ARTHUR STREET...Colliers International Idaho | 755 West Front Street, Suite 300 Boise,...
SALE SUMMARY
Industrial Investment property in one of America’s fastest growing markets
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LEW MANGLOS, MBA, CCIM, SIOR208 472 [email protected]
DEVIN OGDEN, MBA, CCIM, SIOR208 472 [email protected]
3405 & 3409 ARTHUR STREETCaldwell, Idaho
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3405 & 3409 ARTHUR STREETProperty Overview
Highlights
» Fenced Storage yard
» Below market rents
» 1.1 miles from I-84 Karcher interchange
» Excellent location
» Drive around capabilities
» Newly remodeled office
» Functional free-span warehouse withseveral loading doors
ProfileAddress: 3405 & 3409 Arthur St, Caldwell, ID
Building Size: ±12,000 SF, ±15,000 SF and ±2,112 SF
Land Size: 2.34 Acres
Parcel: R0277500000
Zoning: M-1
Construction: Metal
Loading Doors: 3405: 5 — Grade Level 3409: 6 — Grade Level
ValueSale Price: $1,862,104 | $64/SF
NOI:
Cap Rate:
In-Place Proforma
$111,726 $123,803
6% 6.65%
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3405 & 3409 ARTHUR STREETSurvey/Site Plan
SURVEY SITE PLAN
Arthur Street
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3405 & 3409 ARTHUR STREETGallery
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3405 & 3409 ARTHUR STREETLocation
SITE
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3405 & 3409 ARTHUR STREETDemographics
Site 1 Mile 3 Miles 5 Miles 10 Min Drive
POPULATION
2020 Estimated Population 7,490 58,888 84,392 66,501
2024 Projected Population 8,446 66,882 95,800 75,515
2010 Census Population 6,645 48,929 70,137 55,101
Projected Annual Growth ‘19-‘24 2.6% 2.7% 2.7% 2.7%
HOUSEHOLD
2020 Estimated Households 2,475 19,698 28,980 22,465
2024 Projected Households 2,685 21,403 31,438 24,393
2010 Census Households 2,122 15,968 23,444 18,143
Historical Annual Growth ‘00-‘19 1.8% 4.5% 4.6% 4.6%
INCOME
2020 Est. Average HH Income $45,724 $52,150 $55,869 $54,545
2020 Est. Median HH Income $42,745 $47,561 $49,413 $49,121
MISC.
2020 Median Home Value * $138,006 $163,427 $173,149 $169,927
2020 Median Rent $682 $727 $731 $733
2020 Est. Median Age 28.8 30.9 32.3 31.4
2020 Average Travel Time to Work 18.2 22.2 23 22.2
2020 Est. Labor Population Age 16+ 5,715 43,827 63,031 49,616
2020 Est. Total HH Expenditure $102.08 M $885.17 M $1.36 B $1.04 B
*In 2019, Meridian grew to 114,680 residents, up 8,270 people from last year, according to estimates from COMPASS, the Treasure Valley’s regional planning agency. The Boise Metrowas the 2nd fastest growing metro in the past year at 2.6% and was the fastest-growing metro area outside of Florida. The median sale of a single-family home in Ada Countyincreased 12.5% in just a year from 2018 to 2019, compared to a 4.8% 1-year change nationally during the same time period.
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3405 & 3409 ARTHUR STREETArea Overview — Caldwell
The City of Caldwell is the western edge of Idaho’s largest metro area, Boise, where nearly half of Idahoans reside. The area has established a unique reputation for a high quality of life, a prosperous business community, world renown recreation and a vibrant arts/culture/food scene. Caldwell’s a�ordability and urban proximity make it undeniably attractive for residents and businesses alike.
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3405 & 3409 ARTHUR STREETArea Overview
Quality of LifeReferred 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 ValleyThe 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.
RecreationThe 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.
DiversityThe 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.
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.
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3405 & 3409 ARTHUR STREETArea Overview
IDAHO TAX OVERVIEWSales 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.
Property Tax personal (machinery/equipment) and real (land/buildings) – based on market value. 2019 Average Rates:
Ada County: 1.03% – 1.21%Bannock County: .98% - 1.88%Bonneville County: 1.03% - 1.66%Canyon County: 1.06% - 1.64%Elmore County: .93% - 1.85%Twin Falls County: 1.17% - 1.79%Statewide: .89% - 1.32%
Idaho does not have an inventory tax. Corporate Income Tax – Computed at 7.6% 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.
SALES &USE TAX6%
CORPORATEINCOME TAX7.6% MINIMUM
WAGE$7.25/hr
STATE UNEMPLOYMENT INSURANCE RATE1.91%
UNION MEMBERSHIP(NAT’L AVG: 11.9%)7.1%
PERSONAL INCOME TAX RATE RANGE Rate range on a bracketed system based on income levels
1.6%-7.8%#2 BEST STATE Property tax rate (2013 Tax Foundation Study)
PROPERTY EXEMPTIONFirst $100,000 of personal property is exempt from taxation
right to workIDAHO IS A
STATE
Col l iers Internat ional Idaho | 755 West Front Street , Sui te 300 Boise , Idaho 83702 | www.col l iers .com/idaho | 208 345 9000
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3405 & 3409 ARTHUR STREET
Caldwell, Idaho
LEW MANGLOS, MBA, CCIM, SIOR208 472 2841
DEVIN OGDEN, MBA, CCIM, SIOR208 472 1668
