OFFERING MEMORANDUM - LoopNet...Moneytree is a family-run business that has been providing financial...

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OFFERING MEMORANDUM 7425 W Saxton Dr, Boise, ID 83714 PRESENTED BY: Eric Guanell Mark Bottles O: 208 947 1114 O: 208 947 1075 C: 208 890 4092 C: 208 866 2222 [email protected] [email protected]

Transcript of OFFERING MEMORANDUM - LoopNet...Moneytree is a family-run business that has been providing financial...

Page 1: OFFERING MEMORANDUM - LoopNet...Moneytree is a family-run business that has been providing financial services to customers for over 30 years. The first Moneytree branch, The first

OFFERING MEMORANDUM 7425 W Saxton Dr, Boise, ID 83714

PRESENTED BY: Eric Guanell Mark Bottles O: 208 947 1114 O: 208 947 1075 C: 208 890 4092 C: 208 866 2222 [email protected] [email protected]

Page 2: OFFERING MEMORANDUM - LoopNet...Moneytree is a family-run business that has been providing financial services to customers for over 30 years. The first Moneytree branch, The first

This information contained herein is from sources deemed reliable. We have no reason to doubt its accuracy but do not guarantee it. It is the responsibility of the person reviewing this information to independently verify it. This package s subject to change, prior to sale or complete withdrawal. Maps are provided for location purposes only and are not to be used as an actual survey.

839 S. Bridgeway Place, Eagle, Idaho 208.377.5700 markbottles.com

Offering Price: $1,900,000

CAP Rate: 6.45%

Net Operating Income $ 122,507

Occupancy 100%

The subject investment opportunity is located at 7425 W Saxton Dr, Boise, Idaho. The property consists of +/- 3,000 square feet of building space and sits on approximately +/- .65 acres of land. The property is 100% leased and subject to newly executed five-year lease extension which extened the lease through October 31, 2023. New GAF Membrane Roof with 20 year transferable warranty installed January 2018.

The Offering

Property Overview

FINANCIAL OFFERING SUMMARY

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PROPERTY SUMMARY

7425 W Saxton DrProperty Address Boise, ID 83714Building Type: Single Tenant , Stand-alone retailPrice $1,900,000CAP Rate 6.45%Scheduled 2019 Income $128,955 Less: Vacancy & Reserves (5%) ($6,448)ProForma 2019 Net Operating Income $122,507Rentable Square Feet 3,000Number of Floors 1Year Built 2006 Parcel Size +/- .65 acresParking: 5/1,000 onsiteZoning City of Boise - C-AD/DA

Tenants MoneytreeLease Type NNNLease Occupancy 100%Lease Extension Commencement November 1, 2018Lease Extension Expiration Date October 31, 2023Annual Rental Increases 3% Annually

LEASE SUMMARY

PROPERTY SUMMARY

Page 3: OFFERING MEMORANDUM - LoopNet...Moneytree is a family-run business that has been providing financial services to customers for over 30 years. The first Moneytree branch, The first

This information contained herein is from sources deemed reliable. We have no reason to doubt its accuracy but do not guarantee it. It is the responsibility of the person reviewing this information to independently verify it. This package s subject to change, prior to sale or complete withdrawal. Maps are provided for location purposes only and are not to be used as an actual survey.

839 S. Bridgeway Place, Eagle, Idaho 208.377.5700 markbottles.com

Moneytree is a family-run business that has been providing financial services to customers for over 30 years. The first Moneytree branch, still located at its original site in Renton, Washington, was opened on October 31, 1983 by brothers Dennis and David Bassford and David’s wife Sara. The three Founders added branches as the industry grew and developed, and continue to run the Company from its Seattle-based headquarters.

Today, Moneytree employs over 800 Team Members in branches throughout Southern California, Colorado, Idaho, Nevada, Washington and British Columbia, Canada. It provides financial services includingCheck Cashing, Business Loans, Prepaid Debit Cards, Western Union Convenience Pay and Wire Fund Transfer, Western Union Money Orders, and Bill Pay Services.

Moneytree has earned its industry leadership position by working toward its Mission of exceeding customers’ expectations, creating a professional work environment and making a positive impact on the communities in which we live and work.

Team Members are committed to meeting this Mission every day. By focusing on customers and their needs, they continue to ensure that they are truly exceeding customers’ expectations. By understanding and listening to Team Member requests and suggestions, they provide a fun, yet professional, working environment for all employees. By seeking out opportunities to help our neighbors, they give back to the people and communities that have helped make Moneytree the company it is today.

Moneytree is consistently honored as a Best Company to Work For. In 2016, Moneytree was voted the “Best Place to Work” in the Seattle A-List contest outranking over 200 other Seattle-area businesses and has received numerous accolades in the industry.

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TENANT PROFILE

Page 4: OFFERING MEMORANDUM - LoopNet...Moneytree is a family-run business that has been providing financial services to customers for over 30 years. The first Moneytree branch, The first

This information contained herein is from sources deemed reliable. We have no reason to doubt its accuracy but do not guarantee it. It is the responsibility of the person reviewing this information to independently verify it. This package s subject to change, prior to sale or complete withdrawal. Maps are provided for location purposes only and are not to be used as an actual survey.

839 S. Bridgeway Place, Eagle, Idaho 208.377.5700 markbottles.com

LOCATION HIGHLIGHTS

• Great visibility with frontage and signage on State Street• Located at the lighted intersection of State St and Saxton

Dr, just west of the major arterial intersection of State St and Glenwood Rd which provides easy access to Boise, Garden City and Eagle.

• Positioned in a high growth area to serve a strong household demographics and daytime population.

LOCATION OVERVIEW

This Money tree location is in the heart of the Treasure Valley at 7425 W Saxton Dr, Boise Idaho. It is adjacent to the new North Pointe retail community, a 25+ acre multi-use development, which includes the 323 unit Kensington Apartment complex and 70,000 square feet of retail space with Smash Burger, Jersey Mikes, Chipotle, Big Bear Diner and Coldstone Creamery. Across the street is Walmart Supercenter and subsidiary retail complex.

Situated near the signalized intersection of State St and Glenwood St., this intersection experiences traffic counts of approximately 38,000 vehicles per day. This property is ideally positioned in the growing State Street Corridor that connects Boise to the bedroom communities of Eagle and Star.

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PROPERTY OVERVIEW

Page 5: OFFERING MEMORANDUM - LoopNet...Moneytree is a family-run business that has been providing financial services to customers for over 30 years. The first Moneytree branch, The first

This information contained herein is from sources deemed reliable. We have no reason to doubt its accuracy but do not guarantee it. It is the responsibility of the person reviewing this information to independently verify it. This package s subject to change, prior to sale or complete withdrawal. Maps are provided for location purposes only and are not to be used as an actual survey.

839 S. Bridgeway Place, Eagle, Idaho 208.377.5700 markbottles.com 4

TRADE AREA AERIAL

Page 6: OFFERING MEMORANDUM - LoopNet...Moneytree is a family-run business that has been providing financial services to customers for over 30 years. The first Moneytree branch, The first

This information contained herein is from sources deemed reliable. We have no reason to doubt its accuracy but do not guarantee it. It is the responsibility of the person reviewing this information to independently verify it. This package s subject to change, prior to sale or complete withdrawal. Maps are provided for location purposes only and are not to be used as an actual survey.

839 S. Bridgeway Place, Eagle, Idaho 208.377.5700 markbottles.com

BOISE, IDAHO

Boise is the capital and largest city in the state of Idaho. It is the largest city between Salt Lake City, Utah and Portland, Oregon and serves as the primary government, economic, cultural and transportation center for the area.

Located in South Central Idaho, Boise is the state capitol with a population of over 225,000 people. Boise acts as the hub of the Treasure Valley with over 680,000 people within a 45-minute draw area .

Boise’s overall cost of living is 91.5% of the national average and the city consistently ranks as one of the top places to do business, to enjoy a high quality of life, to raise a family, and for entertainment and recreation.

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1-MILE RADIUS

3-MILE RADIUS

5-MILE RADIUS

POPULATION2022 Projection 10,712 64,516 176,837 2017 Estimate 9,819 59,658 162,822 2010 Census 8,623 55,513 147,358 Growth 2017-2022 9.09% 8.14% 8.61%Growth 2010-2017 13.87% 7.47% 10.49%

HOUSEHOLDS2022 Projection 4,642 26,185 69,968 2017 Estimate 4,253 24,196 64,388 2010 Census 3,763 22,656 58,701 Growth 2017-2022 9.15% 8.22% 8.67%Growth 2010-2017 13.02% 6.80% 9.69%Owner Occupied 73.17% 71.50% 66.14%Renter Occupied 26.80% 28.50% 33.86%

2017 HOUSEHOLDS BY HH INCOME 4,253 24,196 64,388 Income: <$25,000 1,005 23.63% 5,730 23.68% 16,107 Income: $25,000 - $50,000 1,185 27.86% 5,407 22.35% 13,924 Income: $50,000 - $75,000 698 16.41% 3,904 16.13% 10,008 Income: $75,000 - $100,000 607 14.27% 3,356 13.87% 7,884 Income: $100,000 - $125,000 225 5.29% 2,151 8.89% 6,015 Income: $125,000 - $150,000 214 5.03% 1,853 7.66% 4,506 Income: $150,000 - $200,000 176 4.14% 980 4.05% 2,975 Income: $200,000+ 143 3.36% 816 3.37% 2,967 2017 Avg Household Income 67,306$ 71,885$ 74,462$ 2017 Med Household Income 48,819$ 55,010$ 54,432$

DEMOGRAPHICS

SELECT NATIONAL RECOGNITION

#1 Lowest Cost Metro in Pacific U.S. (KPMG Competitive Analysis, 2016)#6 Top States for Job Growth (Forbes, 2016)#11 America’s Fasted Growing Cities (Forbes, 2017)#12 Best Places to Live (US News & World Report, 2017)

Page 7: OFFERING MEMORANDUM - LoopNet...Moneytree is a family-run business that has been providing financial services to customers for over 30 years. The first Moneytree branch, The first

Contact Information:

Eric Guanell Mark Bottles O: 208 947 1114 O: 208 947 1075 C: 208 890 4092 C: 208 866 2222 [email protected] [email protected]

839 S Bridgeway PlaceEagle, Idaho 83616