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Thomson Farms Multifamily/Mixed-Use Investment Opportunity

$36,000,000

Thomson Farms Road, Rexburg, ID 83440

Active
Last Updated: 01/10/2024

156,253 sqft

Building Size

94

Occupancy

Details:
Building Size:    156,253 sqft
Occupancy:    94%
Units:    190
Highlights:
  • Introducing Thomson Farms, a 55-acre mixed use development of low, medium and high-density housing paired with a grocery anchored shopping center. Approved as a Planned Unit Development (PUD) in 2017, Phases 1 and 2 of the apartment complex were completed in 2020 and are now stabilized. Future phases include single family residential lots, townhomes, and retail development on an additional 47.13 acres of land.
  • This strategically positioned site is fully served with municipal utilities and has a prime location along State Highway 33 situated between BYU-Idaho and Walmart. Thomson Farms presents the opportunity for a buyer to acquire immediate scale with 190 cash-flowing units in the rapidly growing community of Rexburg, with future value-add through the completion of complimentary uses in the full development.
  • The Grove at Thomson Farms includes 190 market rate apartment units built in two phases. The amenity package including a clubhouse, pool, and open space, are proposed in Phase 3 and have not yet been built. Offering studio, 1, 2 and 3 bedroom floorplans, The Grove is targeted to young professionals and does not offer affiliated student housing through BYU-Idaho. The Rexburg multifamily market continues to outperform, with a 96% occupancy in the face of substantial increase in recent supply.
  • In addition to be centrally located in Rexburg in a rapidly growing area between BYU-Idaho and Walmart, The Grove sits just off Yellowstone Avenue (US Highway 33). Yellowstone Avenue is the main Eastern Idaho highway connecting Rexburg to Idaho Falls to the south and Island Park to the north.
  • This mixed-use property is offered as a combined listing with an overall asking price of $36,000,000.
Description:

All offers reviewed on 01.31.2024
Offers accepted for: (1) The Grove Apts. or (2) The entire offering
Property tours are highly encouraged. Call for scheduling.
LOI to include: Price, Earnest Money, Due Diligence Timeline & Closing Period

Thomson Farms Road & Yellowstone Highway

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