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51 N Union St 3,940 SF 100% Leased Retail Building Star, ID 83669 $3,212,000 ($815.23/SF) 6% Cap Rate
Investment Highlights
- Functionally a single-tenant investment structure; both tenants operated by same experienced franchise group
- Passive lease structure creating a ease of managment
- Boise MSA exposure with continued in-migration
- Brand new 2024 construction
- Taxes, insurance, and CAM reimbursed by tenants
- Long-term 10-year NNN leases
Executive Summary
While technically a two-tenant asset, both locations are owned and operated by the same experienced group. This provides coordinated management, centralized oversight, and simplified communication for ownership. The asset effectively operates as a single-tenant NNN investment with diversified brand exposure and minimal landlord responsibilities. THE LEASES ARE PASSIVE IN NATURE, MAKING THIS A VERY HANDS OFF LANDLORD FRIENDLY SECURE INVESTMENT.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Building Size
3,940 SF
Year Built
2024
Price
$3,212,000
Price Per SF
$815.23
Cap Rate
6%
NOI
$192,743
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.49
Lot Size
0.18 AC
Zoning
R-4
Nearby Major Retailers
Property Taxes
| Parcel Number | R8108000236 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $207,500 |
Property Taxes
Parcel Number
R8108000236
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$207,500
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51 N Union St
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