1504 north wildwood way boise, id 83713 · property overview profile property name: napa auto parts...

SALE SUMMARY

1504 North Wildwood Way Boise, ID 83713

Single Tenant Absolute NNN Investment with 10 Years Remaining on Lease

C o l l i e r s I n t e r n a t i o n a l I d a h o | 7 5 5 W e s t F r o n t S t r e e t , S u i t e 3 0 0 B o i s e , I d a h o 8 3 7 0 2 | w w w . c o l l i e r s b o i s e . c o m | 2 0 8 3 4 5 9 0 0 0

LEW MANGLOS, MBA, CCIM, SIOR208 472 [email protected]

C o l l i e r s I n t e r n a t i o n a l I d a h o | 7 5 5 We s t F ro n t S t re e t , S u i t e 3 0 0 Bo i s e , I d a h o 8 3 7 0 2 | w w w . co l l i e r s b o i s e . co m | 2 0 8 3 4 5 9 0 0 0

1504 N WILDWOODInvestment Summary

This investment opportunity is for the interest in 1504 N Wildwood Way, a 10,030 square foot retail building sitting on nearly 1.16 acres. The building has frontage on Fairview Ave, one of most important East-West thoroughfares in the city with more than 35,000 vehicles per day. In February of 2018 Forbes named the Boise area as the #1 Fastest Growing City in America.

Pricing: $2,150,000

NOI: $128,937

Cap Rate: 6.0%

Size: 10,030 SF

Lease Exp: 12/31/2028

Rent Increases: 3% Annually

Parking: 4.69:1,000 (47 stalls)

Price/PSF: $214.36

Occupancy: 100%


1504 N WILDWOODProperty Overview

ProfileProperty Name: Napa Auto Parts

Address: 1504 N. Wildwood Way

Building Size: 10,030 SF

Land Size: 1.162 Acres

Parcel: R4854410472

Zoning: C-2D, City of Boise

Parking: Ample on-site

Year Built: 2012

Highlights

» Absolute NNN lease, no Landlord responsibilities

» Excellent location in Boise, ID, one of the fastest growing metro areas in the U.S.

» 10 Years remaining

» 3% annual rent increases

» DynaParts, LLC, operates over 30 NAPA locations in Idaho, Oregon, Nevada, Utah,and Montana

» Located on high traffic artery road with high visibility and great access


1504 N WILDWOODTenant Profile

About Napa Auto Parts

In 1925, a group of independent auto parts sellers met in Detroit to form the National Automotive Parts Association. Their mission was simple: improve the distribution of auto parts to serve the people and businesses who increasingly relied on cars and trucks for their transportation needs.

NAPA stores and warehouses, which were owned by a variety of member companies at the time, quickly became the go-to sources for parts. Carlyle Fraser, founder of Genuine Parts Company, served as a key NAPA contributor in its early years.

Over the years, Genuine Parts began to acquire the other NAPA member companies, and in 2012 became the last remaining member of NAPA, a brand with a reputation for quality parts, rapid availability, and knowledgeable people.

Today, NAPA-branded stores and AutoCare Centers continue to serve auto service professionals, do-it-yourselfers and everyday drivers with quality parts and supplies to keep cars, trucks, and equipment performing safely and efficiently.

In the U.S., more than 500,000 part numbers are distributed across 57 distribution centers, 6,000 NAPA AUTO PARTS stores, and more than 16,000 NAPA AutoCare and AutoCare Collision Centers nationwide.

Dynaparts, LLC

DynaParts, LLC, operates over 30 NAPA locations in Idaho, Oregon, Nevada, Utah, and Montana


1504 N WILDWOODLocation

SITE


1504 N WILDWOODDemographics

Wildwood Way & Fairview Ave 1 Mile 3 Miles 5 Miles

POPULATION

2018 Estimated Population 13,055 102,676 252,431

2023 Projected Population 14,538 114,719 281,721

2010 Census Population 11,796 90,287 215,520

Projected Annual Growth 2018 to 2023 2.3% 2.3% 2.3%

HOUSEHOLD

2018 Estimated Households 5,200 38,278 95,790

2023 Projected Households 5,685 42,015 105,250

2010 Census Households 4,683 33,671 82,242

Historical Annual Growth 2000 to 2018 2.2% 2.0% 2.7%

INCOME

2018 Est. Average Household Income $64,386 $77,248 $78,318

2018 Est. Median Household Income $56,873 $65,046 $63,308

MISC.

2010 Median Home Value * $182,364 $213,608 $224,719

2010 Median Rent $802 $839 $809

2018 Est. Median Age 34.4 37.8 37.1

2010 Average Travel Time to Work 19.2 18.6 19.2

2018 Est. Labor Population Age 16+ 10,464 81,716 199,431

2018 Est. Total Household Expenditure $270 M $2.25 B $5.68 B

*The Wall Street Journal recently reported in April 2018 that the median price of a single-family home in the Boise area has doubled from $147,000 in 2011 to $297,000 in 2018.


1504 N WILDWOODArea Overview — Boise

Boise is Idaho’s largest city and the anchor of the Treasure Valley where nearly half of Idahoans reside. The city has established a unique reputation for a high quality of life, a prosperous business community, a vibrant arts & culture scene, and world re-known recreation—in one unbeatable package.

Area Overview


1504 N WILDWOODArea Overview

Quality of LifeReferred to as the “Treasure Valley”, the region is home to about 675,000 people. The workforce of roughly 330,000, live within a 45-minute draw area. Known for its extraordinary quality of life and affordable cost of living (currently one of the lowest in the western states, according to the ACCRA Cost of Living Index), the Valley is consistently ranked by Forbes, The Wall Street Journal, Livability and Inc. Magazine as one of the best places in the U.S. to live and work.

Commuting in the ValleyThe major interstate serving the Treasure Valley is I-84, running through the metro area’s major cities (Boise, Meridian, Nampa and Caldwell). Branching off to the northeast is I-184, which runs into downtown Boise. Daily commutes are easy, with several U.S. and state highways providing direct routes and minimal traffic. The average commute time is only 18 minutes. Public transportation is handled by ValleyRide, Treasure Valley Transit and ACHD Commuteride.

RecreationThe Boise River runs through downtown and is accessible through a greenbelt system with over 25 miles of bike paths and 850 acres of parks. Up in Foothills you’ll find more than 135 miles of nationally acclaimed hiking and mountain biking trails that extend from the city up to Bogus Basin Ski Area. Only 17 miles from the city center Bogus Basin offers winter skiing and summer adventure. With world-class golf courses, hiking, fishing and mountain biking, the recreation opportunities are virtually unlimited within a 30-minute drive.

DiversityThe City of Boise has been recognized for its work welcoming over 800 new citizens (refugees) each year from over 20 foreign countries. Annual diversity events and resources include PRIDE activities, The Basque Cultural Center, Hispanic Cultural Center and the Black History Museum. More than 90 different languages are spoken in the Boise School District and the Mexican Consulate also has an office in Boise.

What about logistics? There are 50 motor freight companies traveling 5 interstates, 20 U.S. highways and 30 state highways that serve the Boise Valley. More than 1,600 miles of rail line through Union Pacific and Burlington Northern Santa Fe provide connection points to Canada, Mexico and the U.S. They are aided by the state’s regional line and 6 short line railroads. Annually, the rail system transports over 11 million tons of freight.

Area Overview


1504 N WILDWOODArea Overview

IDAHO TAX OVERVIEWSales and Use Tax in Idaho is 6%. This would apply to items purchased or consumed in Idaho. Exemptions are available for equipment and raw materials used directly in manufacturing, processing, or fabrication; clean rooms used in semiconductor and semiconductor equipment manufacturing; and any equipment or material used in research and development activities.

We do not tax services including telecommunication services, and utilities such as water, gas, electricity, or natural gas. In our region we do not have any local option sales tax.

Property Tax personal (machinery/equipment) and real (land/buildings) – based on market value. 2017 Rates: Ada County Average Range: 1.1% - 1.8% Bannock County Average Range: 0.8 - 1.2% Canyon County Average Range: 1.5% - 2.5% Elmore County Average Range: 1.8%

Idaho does not have an inventory tax.

Corporate Income Tax – Computed at 7.4% of the Idaho taxable income of a corporation. Corporations that are taxable in Idaho and another state or country or are part of a unitary group of corporations, use a 3 factor formula to ascertain how much of the business is conducted in Idaho. The apportionment formula is made up of a property factor, a payroll factor, and a sales factor. These three factors, with the sales factor being double weighted for all taxpayers except for electrical and telephone companies, are totaled and divided by 4 to compute the Idaho apportionment factor. The Idaho apportionment factor is then applied to the business income of the corporation to compute income assigned to Idaho. Non-business income allocable to Idaho is added to the income apportioned to Idaho to arrive at Idaho taxable income.

SALES & USE TAX6%

CORPORATE INCOME TAX7% MINIMUM

WAGE$7.25/hr

STATE UNEMPLOYMENT INSURANCE RATE1.91%

UNION MEMBERSHIP(NAT’L AVG: 11.9%)7.1%

PERSONAL INCOME TAX RATE RANGE Rate range on a bracketed system based on income levels

1.6%-7.8%#2 BEST STATE Property tax rate (2013 Tax Foundation Study)

PROPERTY EXEMPTIONFirst $100,000 of personal property is exempt from taxation

right to workIDAHO IS A

STATE

Area Overview

Col l iers Internat ional Idaho | 755 West Front Street , Sui te 300 Boise , Idaho 83702 | www.col l iersboise.com | 208 345 9000

1504 North Wildwood Way — Boise, ID 83713

LEW MANGLOS, MBA, CCIM, SIOR208 472 2841

[email protected]

1504 north wildwood way boise, id 83713 · property overview profile property name: napa auto parts...

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