For Sale
$1,600,000

12228 Bridger Bay DrStar, ID 83669

NNN Lease, Strong ROI, Boise MSA

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a 5,760 square foot, Class A daycare center in Star, Idaho, part of the rapidly growing Boise MSA. Located at 12228 W Bridger Bay Dr, this single-tenant property features a fee-simple ownership structure and a new 5-year absolute NNN lease with zero landlord responsibilities. The lease includes annual rent increases of 3%, mitigating potential downside risk. The current tenant, established since 2008, enjoys 100% occupancy, generating a strong net operating income (NOI) of $96,000, resulting in a 6.00% cap rate. The asking price is $1,600,000, translating to $277.78 per square foot. Built in 2008, this property benefits from its location in a high-demand sector within a thriving community. Star's population has tripled since 2010, and median household income surged 18% between 2021 and 2022, reaching $88,625. This turnkey investment offers a secure income stream in a recession-proof industry, situated conveniently near Meridian and Eagle, within the 825,000-resident Boise MSA. The below-market rents provide additional protection against economic fluctuations. This is a 1031 exchange eligible property.

Highlights

  • Below-market rents offer downside protection.
  • Long-term tenant (since 2008).
  • New 5-year lease at closing.
  • Star's population has tripled since 2010.
  • Star is 17 miles from Boise, adjacent to Meridian and Eagle.
  • Boise MSA has approximately 825,000 residents.

Property Details for 12228 Bridger Bay Dr

Property type
Specialty properties, Day care centers & nurseries
Square Feet
5,760 SF
Class
A
Year Built
2008
Units
1

Location Insight

City
Star
County
Ada
State
Idaho
Latitude
43.692655440506
Longitude
-116.50613555824
12228 Bridger Bay Dr, Star, Idaho

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12228 Bridger Bay Dr
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