Absolute NNN Leased Opportunity | 8.24% Cap Rate

Highlights:

• Absolute NNN leased professional, multi-tenant office property, primarily occupied by Lookout Credit Union (see Rent Roll for full tenant list).
• Prominently positioned near Idaho State University.
• Close proximity to the area’s most frequented retail corridors and excellent visibility on major traffic corridors.
• New, long-term lease to commence with current owner, Lookout Credit Union, upon closing, for 15 years with 2, 5 year renewal options and 2% annual increases.
• Strong, established primary tenant — Lookout Credit Union is a leader in banking, with locations across Southeastern Idaho.
• Hard-to-come-by cap rate on a stable and well-maintained property.

Description:

TOK Commercial is pleased to offer for sale an absolute NNN leased multi-tenant office property. This property is primarily occupied by a professional office bank branch. The property consists of a total of 53,749 SF building on an approximate 2.07 acre lot. The property is prominently positioned near Idaho State University and benefits from close proximity to the area’s most frequented retail corridor and excellent visibility on a major traffic corridor.

The property is occupied by the current owner and long-term tenant Lookout Credit Union, who will continue to lease back their existing space from the future owner in these three highly successful locations. The new lease will commence upon closing, for 15 years with 2, 5 year renewal options and 2% annual increases.

Lookout Credit Union is a leader in banking, with locations across Southeastern Idaho. They are a member-owned, not-for-profit financial institution whose sole purpose is to provide exceptional financial products and services to their member/owners. Unlike banks and other financial institutions that have to pay out dividends to stockholders and pay a Board of Directors, their excess earnings are returned to their members in the form of lower loan rates, higher dividends on savings, additional products, and services, additional branches, etc., providing a strong competitive advantage to their members while their Board of Directors, which are elected by the members, volunteer their time to make sure the credit union always operates in the best interests of the membership as a whole.

Established in 1952 as ISU Credit Union and rebranded in 2021 to Lookout Credit Union, this institution has continued to grow and thrive in Southeastern Idaho, with over $322 million in assets, 6 branches in total, and serving more than 27,000 members.

This offering provides a hard to come by cap rate on a stable asset. This property is ideally located and well-maintained with a strong, established primary tenant presents a rare investment opportunity for prospective buyers.

Pocatello | 5th Avenue & Bonneville Street

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