Everest Surgical Center

Highlights:

• Absolute NNN Investment: 100% leased with no landlord obligations, generating $818,400 in annual NOI at a 6.3% cap rate.
• Long-Term Lease Structure: New 10-year lease commencing January 1, 2027, with 2% annual rent increases and two additional five-year renewal options. No purchase option or right of first refusal.
• Premier Surgical Facility: Purpose-built in 2021, featuring three of Idaho’s largest surgical operating rooms, 12 pre/post-operative beds, and dedicated sterilization areas.
• Accredited Surgical Operations: AAAHC-accredited and Medicare-certified ambulatory surgery center with 20+ established insurance contracts in place.
• Specialized Medical Improvements: Second floor features 15 exam rooms, two procedure rooms, and a fully equipped X-ray room.
• Established Medical Tenant: Everest Surgical Institute specializes in orthopedic, spine, general, and bariatric surgery. Facility includes a backup generator, covered patient drop-off porte-cochere, and dedicated pad for potential expansion.
• Strategic Healthcare Location: Less than ¼ mile from St. Luke's Meridian Regional Hospital with ER Transfer Agreement in place. Surrounded by multiple medical/physician’s office buildings, medical imaging provider, other specialized surgical centers, physical therapy offices, restaurants and hotels. Perfect location for physician & patient convenience.
• Strong Surrounding Demographics: Three-mile population of 95,043 with an average household income of $135,646.

Description:

Everest Surgical Institute is a 100% leased, single-tenant ambulatory surgery center and medical office building in Meridian, Idaho, offered at $12,950,000 ($685/SF). The property is leased to Everest Surgical Institute, LLC under a new 10-year absolute NNN lease running January 1, 2027 through December 31, 2036. The tenant is responsible for all taxes, insurance, maintenance, repairs, and capital replacements, including roof, structure, HVAC, and parking, leaving the landlord with no obligations. Base rent starts at $818,400 annually, representing a 6.3% Year 1 cap rate, with 2% annual increases to $978,064 in Year 10. The tenant has two five-year renewal options at the greater of fair market value or 102% of prior rent, with no purchase option or right of first refusal.

Everest Surgical Institute is strategically located in Meridian’s established medical district, less than a quarter mile from St. Luke’s Meridian Medical Center. Surrounded by medical offices, surgical centers, and complementary healthcare services, the property offers convenient access for physicians and patients. Its proximity to Eagle Road and Interstate 84 provides excellent connectivity throughout the Boise metropolitan area and greater Treasure Valley

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