113 Ten Mile RdMeridian, ID 83642
- Retail properties
- 2,300 SF
Property Details for 113 Ten Mile Rd
- Year built
- 2023
- Lot size
- 0.85 AC
- Property size (Sq ft)
- 2,300 SF
- Property type
- Retail properties
- Property subtype
- Other retail properties
Description
This exceptional investment opportunity presents a 2,300 square foot, newly constructed (2023) Starbucks located at 113 S Ten Mile Rd, Meridian, ID 83642. The property sits on a 0.85-acre lot within the thriving Discovery mixed-use development, boasting 559 residential units and 166,425 square feet of additional retail and office space. This prime location benefits from its proximity to Idaho State University (3.5 miles), a strong demographic base (154,513 residents within a 5-mile radius with an average household income of $119,651), and significant projected income growth in the surrounding area. The 10-year net lease (NN+) with Starbucks Corporation, a credit-rated tenant with a corporate guarantee, includes 10% rental increases every five years, ensuring a stable and appreciating asset. The lease commenced October 20, 2023, and expires February 28, 2034. The property features a dual-lane drive-thru and patio seating, maximizing customer convenience. Its high-visibility location along South Ten Mile Road (32,000 AADT) and excellent access to Interstate 84 (136,000 AADT) guarantee significant traffic exposure. The property offers a 4.75% cap rate and a current NOI of $145,000, making it an attractive investment opportunity for a 1031 exchange. The asking price is $3,053,000. This is a truly exceptional opportunity to acquire a trophy asset in a high-growth market.
Location Insight
- City
- Meridian
- County
- Ada
- State
- Idaho
- Latitude
- 43.6033
- Longitude
- -116.434
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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