Boise, ID - Boise Towne Square Shops
$16,500,000
130 N. Milwaukee Street, Boise, ID 83704
6.2
Cap Rate
1,022,474
NOI
Details:
Description:
SRS Capital Markets, in collaboration with NAI Select, is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in Boise Towne Square Shops, a 100% occupied, PetSmart anchored retail center investment property located in Boise, Idaho.
The pad features a strong, diversified tenant lineup of PetSmart, Stromy Vape, Best Massage, White Angel Nails & Spa, 360 Wireless, and Body Language. PetSmart anchors the center, occupies 70% of the GLA, and constitutes for 60% of the base rental revenue. Additionally, the PetSmart features expanded services that include Banfield Pet Hospital, boarding & daycare, expert dog training, and grooming. All the tenants operate under leases which are NNN in nature, limiting expense leakage for a future investor.
The subject property is strategically located at the signalized, hard corner intersection of N. Milwaukee Street and Franklin Road, averaging a combined 66,500 vehicles passing by daily. The site benefits from nearby direct on/off ramp access to Interstate 184 (142,000 VPD), a major commuter thoroughfare serving the Boise metropolitan area.
The asset is ideally situated as an outparcel to Boise Towne Square, a 1,200,000+ SF shopping center anchored by Macy’s, Dillard’s, and Kohl’s. Other major national/credits tenants within the area include Target, Walmart Supercenter, Lowe’s, Costco, and many more. The site sits across a brand new highly trafficked In-N-Out, the second store opened in Idaho. Strong tenant synergy significantly increases consumer draw to the immediate trade area and promotes crossover store exposure to the site.
Location
Gallery
