net leased investment opportunity: ±6,424 sf (single ...€¦ · net leased investment...

Net Leased Investment Opportunity:±6,424 SF (Single Tenant Investment)1710 W. Riverstone DriveCoeur d’Alene, Idaho 83814

$3,400,000 Offering PriceApproximate 6% Capitalization Rate

Strong Single Tenancy

No warranty or representation, expressed or implied, is made by Kiemle Hagood, its agents or its employees as to the accuracy of the Information contained herein. All information furnished is from sources deemed reliable and submitted subject to errors, omissions, change of terms and conditions, prior sale, lease or financing, or withdrawal without notice. No one should rely solely on the above information, but instead should conduct their own investigation to independently satisfy themselves.

Site/Floor Plans

Non-Disclosure / Confidentiality

Market Overview

Executive Summary

Financial Analysis

Location

Net Leased Investment Opportunity:±6,424 SF (Single Tenant Investment)

1710 W Riverstone Dr., Coeur d’Alene, Idaho 83814

Address: 1710 W. Riverstone Dr., Coeur d’Alene, Idaho 83814

Parcel #: CJ4880010050 (AIN # 309472)

Building Type: Restaurant (Business not included; Bardenay Restaurant and Distillery)

Zoning: C-17, City of Coeur d’Alene

Year Built: 2007

Building Area: 6,424 SF (gross building area, per county assessor)

Occupancy: 100%

Offering Price: $3,400,000

Cap Rate: 6% Overall Capitalization Rate

Executive Summary Net Leased Investment Opportunity:±6,424 SF (Single Tenant Investment)


Executive Summary Net Leased Investment Opportunity:±6,424 SF (Single Tenant Investment)


Bardenay Restaurant & Distillery has three locations across Idaho(Coeur d Alene, Boise and Eagle). Coeur d Alene opened June of 2007 along the Riverstone Pond in Riverstone Park. Bardenay is a full-service restaurant and bar serving lunch and dinner. Bardenay has a strong emphasis on their beverage program that extends far beyond what they make in their distilleries with claim to be the Nations first restaurant distillery and bar selling liquor handcrafted on-site.

Location Net Leased Investment Opportunity:±6,424 SF (Single Tenant Investment)


Lake Coeur d’Alene

Coeur d’Alene Resort

Site: 1710 W. Riverstone Dr.

Location

The Northwest

CDA to Seattle331 Miles

CDA to Portland384 Miles

CDA to Spokane34 Miles

CDA to Spokane Valley28 Miles

CDA to Post Falls10 Miles

CDA to Sandpoint46 Miles

CDA to Boise379 Miles

CDA to Missoula165 Miles

Coeur d’Alene (CDA) Distance to

1710 W. Riverstone Dr.



Site Plan

Patio

Floor Plan

Market Overview

Workforce

Largest Employers Kootenai CountyKOOTENAI HEALTH 2,717COEUR D’ALENE PUBLIC SCHOOLS No. 271 1,194COEUR D’ALENE CASINO RESORT HOTEL 843WALMART 862KOOTENAI COUNTY 737US BANK 679HAGADONE HOSPITALITY CORPORATION 662NORTH IDAHO COLLEGE 562POST FALLS SCHOOL DISTRICT No. 273 526QUALFON, INC 521LAKELAND SCHOOL DISTRICT No 272 472CITY OF COEUR D’ALENE 399ESTERLINE INTERFACE TECHNOLOGIES 322BUCK KNIVES 300RAYCAP, INC 221CPM DEVELOPMENT CORP & SUBSIDIARIES 210THE SALVATION ARMY RAY & JOAN KROC CORPS COMMUNITY CENTER 200CITY OF POST FALLS 183CASCADIA CUSTOM MOLDING 140MANITO SUPER 1 FOODS INC 139

Data Source: Spokane Journal of Business – 2019 Book of Lists

1315

18

455860 91 105

154

238

240

244

340

376456

501

593

686

Mining

Utilities

Management of companies

Agriculture, Forestry, Fishing, Hunting

Educational Services

Information

Arts, entertainment and recreation

Transportation

Wholesale Trade

Real Estate

Adminstrative support, wastemanagement, remediation services

Manufacturing

Other services

Accomodation and food services

Professional, scientific and technical

Health care and social assistance

Retail Trade

Construction

Breakdown of Kootenai County Industry

Number of Establishments

Data Source: US Census Bureau



Market Overview

Population

Data Source: Spokane Journal of Business

Population Changes in Idaho Counties

138,494

40,877 39,265

12,765

157,637

43,560 40,385

12,542

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

180,000

Kootenai Bonner Nez Perce Shoshone

2010 2017

44,137

27,574

13,294 23,800

31,894

50,665

33,290

14,630

25,146 32,820

-

50,000

100,000

150,000

200,000

Coeur d'Alene Post Falls Hayden Moscow Lewiston

2010 2017

Population Changes in Idaho Cities

13.8% Change

14.8% Change

Population Changes in Idaho Counties



Market Overview

Data Source: US Census Bureau & Regis Pro

15 Minutes 30 Minutes 60 Minutes

Estimated Population (2019) 104,648 219,710 671,534Estimated Population (2024) 120,019 247,100 739,433Census Population (2010) 89,549 186,296 608,896Median Age (2019) 38.0 38.4 38.1Median Household Income (2019) $57,826 $62,370 $62,183Average Household Income (2018) $67,279 $72,685 $74,373Number of Households 43,923 91,191 280,640

Spokane, Washington / Coeur d’Alene, Idaho Combined Counties - MSA Area

731,3722019 Estimated Population

Drive Time Demographics



Market Overview

Commercial Real Estate Market

6.7%

9.4%

8.1%

1.9%2.4%

0%

2%

4%

6%

8%

10%

12%

Coeur d'Alene Post Falls Rathdrum Hayden DaltonGardens

Retail Market Vacancy2018

Overall Retail Market

Vacancy: 6.7%Total Inventory: 7,842,998 SF

Total Vacant Inventory: 526,150 SF

2.9% 2.8%

4.6%

2.5%

0.0%0%

1%

2%

3%

4%

5%

6%

7%

8%

9%

10%

Coeur d'Alene Post Falls Rathdrum Hayden DaltonGardens

Industrial Market Vacancy2018

Overall Industrial Market Vacancy: 2.8%Total Inventory: 6,705,781 SFTotal Vacant Inventory: 189,785 SF

Overall Office Market Vacancy: 5.3%Total Inventory:

4,038,762 SFTotal Vacant Inventory:

214,009 SF



4.8%

8.1%

0.0%

5.8%

0.0%

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

20%

Coeur d'Alene Post Falls Rathdrum Hayden Dalton Gardens

Office Market Vacancy2018

Non Disclosure / Confidentiality

For the purposes of evaluating acquisition of 1710 W Riverstone Dr., you have been (or will be) provided with confidential information. Thisinformation is provided with the understanding that you agree to treat any and all information concerning the Property or Ownership, whetherprepared by Owner, Advisor, or otherwise, confidentially and in accordance with the following:

• Property Information does not purport to be all-inclusive or to necessarily contain all the information that a prospective purchaser may desire ininvestigating the Property.

• Property Information has been prepared for informational purposes relating to this transaction only and upon the express understanding that it willbe used for only said purpose.

• No information supplied may be used to the detriment of Owner, nor may any of the supplied information be used directly or indirectly by current orprospective competitors of the Owner, its respective officers, employees and representatives.

• Any projections or similar materials should be considered hypothetical only and no assurances can be given as to the accuracy of assumptions or thepredictability of any given result.

• Information provided by third party sources and included herein shall be verified by Buyer.

• Any purchase should be based on the purchaser’s owner investigations and not upon information contained herein. Neither Owner nor Broker makeany express or implied representations or warranties as to the accuracy of completeness of the Property Information provided.

• Should the supplied information provided through Kiemle Hagood produce a Letter of Intent, leading to an offer to purchase, you agree towork through Kiemle Hagood as broker.



ContactInformation

Founded in 1971, Kiemle Hagood is recognized as the Inland Northwest’s leader in commercial real estate and property management services. Kiemle Hagood currently manages over seven million square feet of space and provides service expertise in sales and leasing, facility management, development and consulting and tenant representation.

kiemlehagood.com

Spokane | (509) 838-6541Coeur d’Alene | (208) 770-2590Tri-Cities | (509) 783-7663Missoula | (406) 552-4568

Pat EberlinCommercial Sales & [email protected] | (208) 215-1375

Exclusively Offered By:

Casey BrazilVice President / Director of [email protected] | (509) 755-7579

No warranty or representation, expressed or implied, is made by Kiemle Hagood, its agents or its employees as to the accuracy of the Information contained herein. All information furnished is from sources deemed reliable and submitted subject

to errors, omissions, change of terms and conditions, prior sale, lease or financing, or withdrawal without notice. No one should rely solely on the above information, but instead should conduct their own investigation to independently satisfy themselves.

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net leased investment opportunity: ±6,424 sf (single ...€¦ · net leased investment...

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