For Sale
$6,675,000

3402 Franklin RdCaldwell, ID 83605

Idaho State Tenant, Net Lease, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents a 47,626 square foot, single-tenant office building located at 3402 Franklin Rd, Caldwell, ID 83605. The property boasts a strong 7.38% cap rate, generated by a modified gross lease with the Idaho State Department of Health and Welfare, a highly creditworthy tenant. The lease, currently in place, has a remaining term of approximately 3.6 years, with a recently executed five-year renewal option. Built in 2001 and renovated in 2018, this Class B building sits on a 5.73-acre lot and includes 150 parking spaces. The property's strategic location at the intersection of Franklin Road (Idaho Highways 20, 26) and Interstate 84 (Exit 29) provides excellent visibility and accessibility. The asking price is $6,675,000, translating to $140.15 per square foot. The building features a single story and is zoned for commercial use. The annual net operating income (NOI) is $492,366. This investment offers a compelling combination of a stable, long-term tenant, a desirable location in a rapidly growing region, and a strong financial return. The land value alone is $27.24 per square foot. This is a rare opportunity to acquire a high-quality, net-leased property with a proven track record of success. The property's strong financial performance and long-term lease make it an ideal addition to any investment portfolio.

Highlights

  • $6,675,000 asking price for a 47,626 SF Class B office building.
  • Net lease investment with a 7.38% cap rate and $492,366 NOI.
  • 100% occupancy with a single tenant, the Idaho State Department of Health and Welfare, under a modified gross lease.
  • 17-year lease with 3.6 years remaining, plus a 5-year option.
  • Located on a 5.73-acre lot in Caldwell, Idaho, with 150 parking spaces.
  • Built in 2001 and renovated in 2018.

Property Details for 3402 Franklin Rd

Property type
Office properties
Square Feet
47,626 SF
Class
B
Year Built/Renovated
2001/2018
Buildings
1
Stories
1
Lot Size (sq. ft)
249,599 SF
Units
1

Location Insight

City
Caldwell
County
Canyon
State
Idaho
Latitude
43.66093003
Longitude
-116.65773089
3402 Franklin Rd, Caldwell, Idaho

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3402 Franklin Rd
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