4203 Garrity Blvd Nampa, ID 83687

Property Details for 4203 Garrity Blvd

Year built

2024

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, single-tenant retail building located at 4203 Garrity Blvd, Nampa, ID, within the rapidly growing Boise MSA. The property, constructed in 2024, is a Class A building housing a Take 5 Oil Change, a national brand tenant, under a 20-year absolute NNN lease commencing December 10, 2024, and expiring November 9, 2044. The lease includes 10% rent bumps every five years, ensuring consistent income growth. The property boasts a current Net Operating Income (NOI) of $130,000, resulting in a 5.75% cap rate. The tenant is an experienced multi-unit operator with a presence in Idaho, Washington, and Oregon. This prime location benefits from high traffic counts exceeding 32,400 vehicles daily, situated in a bustling retail corridor just off I-84. Nampa, the third-largest city in Idaho with a population of 110,951, is part of the Boise MSA, home to approximately 825,000 residents. The investment offers significant tax advantages due to eligibility for a 15-year depreciation schedule (consult your accountant). The asking price is $2,260,870. The lease includes four five-year renewal options, providing long-term stability and predictable cash flow. This is a rare opportunity to acquire a secure, long-term investment in a high-growth market with minimal landlord responsibilities. The property is 100% occupied with an occupancy date of January 15, 2025.