For Sale
$6,675,000

3402 Franklin RdCaldwell, ID 83605

High-yield medical office building, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
116
This single-tenant, 47,626 square-foot Class B medical office building in Caldwell, Idaho presents a compelling investment opportunity. Located at 3402 Franklin Road, this property boasts a 100% occupancy rate with a long-term lease to the Idaho Department of Health and Welfare, providing exceptional stability and a strong 7.38% cap rate. Built in 2001 and renovated in 2018, the building sits on a 5.73-acre lot and generates a substantial net operating income (NOI) of $492,366. The property's strategic location in the rapidly growing Boise metropolitan area, coupled with the strength of its tenant and the high demand for medical office space, ensures a secure and potentially lucrative investment. The asking price is $6,675,000, translating to $140.15 per square foot. The land value is estimated at $28-$30 per square foot. The property features a gross lease, single tenancy, and is zoned for commercial use. This is a rare opportunity to acquire a high-performing asset in a thriving market. The property includes over 250 parking spaces.

Highlights

  • 47,626 SF Class B medical office building in Caldwell, ID, part of the Boise metro area.
  • 100% occupied by the Idaho Department of Health and Welfare under a long-term lease.
  • 7.38% cap rate with a $6,675,000 asking price ($140.15/SF).
  • $492,366 annual net operating income (NOI) and $709,641.98 annual gross income.
  • Built in 2001, renovated in 2018, situated on a 5.73-acre lot with over 250 parking spaces.

Property Details for 3402 Franklin Rd

Property type
Office properties, Medical offices
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
43.6616019
Longitude
-116.6568044
3402 Franklin Rd, Caldwell, Idaho

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3402 Franklin Rd
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