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NNN Medical Office 1828 S Millennium Way 12,775 SF 100% Leased Office Building Meridian, ID 83642 $4,288,767 ($335.72/SF) 6% Cap Rate
Investment Highlights
- Brand New NNN Lease
- Located in One of Idaho's Fastest Growing Markets
- Strong Medical Tenant Mix
Executive Summary
Lease Terms: 10 Years
Lease Type: NNN
Annual Increases: 2.00%
Options to Renew: 2x 5 Years
Square Footage: 12,755 RSF
Lot Size: 1.26 acres
Year Built: 2007
Landlord Responsibilities: Landlord is responsible for roof & structure.
Tenant Responsibilities: Tenant is responsible for the reimbursement of NNN expenses including property taxes, property
insurance, and common area maintenance.
Capital Expenses: Other than roof and structure, Landlord may receive reimbursement from Tenant of capital expenses, as
amortized over the useful life of the capital item.
Lease Type: NNN
Annual Increases: 2.00%
Options to Renew: 2x 5 Years
Square Footage: 12,755 RSF
Lot Size: 1.26 acres
Year Built: 2007
Landlord Responsibilities: Landlord is responsible for roof & structure.
Tenant Responsibilities: Tenant is responsible for the reimbursement of NNN expenses including property taxes, property
insurance, and common area maintenance.
Capital Expenses: Other than roof and structure, Landlord may receive reimbursement from Tenant of capital expenses, as
amortized over the useful life of the capital item.
Property Facts
Sale Type
Investment NNN
Sale Condition
Sale Leaseback
Property Type
Office
Property Subtype
Medical
Building Size
12,775 SF
Building Class
A
Year Built
2007
Price
$4,288,767
Price Per SF
$335.72
Cap Rate
6%
NOI
$257,326
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
6,388 SF
Building FAR
0.23
Lot Size
1.26 AC
Zoning
L-O
Parking
30 Spaces (2.35 Spaces per 1,000 SF Leased)
Amenities
- Signage
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Minimal public transit
10/100
Fairly bikeable
40/100
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Photos
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NNN Medical Office | 1828 S Millennium Way
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