3605 N Locust Grove Rd 3,190 SF Retail Building Meridian, ID 83646 $1,419,000 ($444.83/SF) 5.89% Cap Rate

The Owl's Nest Daycare & Preschool presents the opportunity to acquire a fully leased, single-tenant net leased childcare investment in the Boise Metropolitan Area. The property consists of a 3,190-square-foot childcare facility situated on approximately 0.37 acres and is leased under a new 10-year NNN lease with 2.0% annual rental escalations and three (3) five-year renewal options.
The property generates $83,544 in annual rental income and is offered at $1,419,000, representing a 5.89% in-place cap rate and an approximate 6.01% forward cap rate following the first scheduled rent increase. The tenant is responsible for taxes, insurance, maintenance, and operating expenses, providing investors with a passive ownership structure and predictable long-term cash flow.
Operated by Premier Early Childhood Education Partners through its affiliated tenant entity, the property serves as a mission-critical childcare facility benefiting from strong surrounding demographics, continued residential growth, and increasing demand for early childhood education throughout the Treasure Valley.
Located along N Locust Grove Road in Meridian, the property is positioned within a well-established residential corridor with convenient access to surrounding neighborhoods, schools, and major transportation routes. This offering is well suited for 1031 exchange buyers and net lease investors seeking stable income, contractual rent growth, and long-term occupancy in one of Idaho's strongest growth markets.