Development Project Ready for 30 Unit Multifamily with 16

1714 North Cole Road

Boise, Idaho 83704

OFFERED BY:

PATRICK RAYMES Investment Specialist

208.250.1471 | [email protected]

RENÉE RAYMES Investment Specialist 208.890.8636 | [email protected]

Development Project Ready for 30 Unit Multifamily with 16 Unit Condo Sales Option

AXIOM DEVELOPMENT

National Broker Connect is Proud to Offer this paper ready multifamily development project in Boise Idaho ~ Minutes to the Town Center Mall and other shops and restaurants

In connection with the offering of this offering on 1714 Cole Road in Boise Idaho (the “Property”) for sale, the undersigned (“Interested Party”) has requested copies of the investment offering package (the “Investment Package”) and certain other information for purposes of evaluating the potential purchase of the Property (the “Potential Transaction”). The Investment Package together with all other documents, communications, or infor-mation furnished by the owner of the Property (“Owner”) or its agent, National Broker Connect Real Estate (“NBCRE”), to the Interested Party regarding the Property, including without limitation, rent rolls, expenses, tax

returns, marketing plans, surveys, and service contracts shall be collectively referred to herein as “Protected Information”).

In consideration of the foregoing and other good and valuable consideration, Interested Party

hereby agrees that the Protected Information when received in whatever form or media shall be

deemed confidential. Interested Party shall not directly or indirectly disclose Protected Information

to any person or entity; provided Interested Party may disclose the Protected Information to the

Interested Party’s legal counsel and prospective lender, and, if applicable, the Interested Party’s

partners, members, or shareholders, for purposes of evaluating the Potential Transaction, so

long as such persons have agreed in writing to be bound by the terms hereof or are subject to a

confidentiality and nondisclosure agreement, the terms of which are at least as restrictive as the

terms hereof. The Interested Party shall (i) treat such Protected Information as strictly confidential,

(ii) use the information solely for the purpose of evaluating the Potential Transaction, and (iii)

exercise the same degree of care in the protection of such Protected Information as the Interested

Party exercises with respect to its own confidential or proprietary information, but in no event may

such degree of care be less than reasonable given the nature of Protected Information. Notes,

documents, summaries and reports referencing or relating to Protected Information may be

made and kept by Interested Party; provided they continue to be subject to the confidentiality,

non-disclosure, and destruction provisions set forth herein. The undersigned shall not make copies of Protect-ed Information except for those copies required for use by the Interested Party in the Potential Transaction. In the event Interested Party elects not to proceed with the Potential Transaction, Interested Party shall immedi-ately destroy all Protected Information, including any copies thereof.

Neither Owner nor NBCRE makes any representations or warranties, express or implied, as to the accuracy or completeness of the Protected Information or any other information provided to Interested Party and Interested Party hereby assumes all risks associated with any reliance on the same and waives any and all claims or recourse Interested Party may have against Owner or NBCRE with respect to the same.

Interested Party hereby agrees to defend, indemnify and hold Owner, NBCRE, Jimmie E Miller and their re-spective affiliates, agents, employees, successors and assigns, harmless from and against and all claims, causes of action, damages, losses, liabilities, and expenses, including, without limitation, reasonable attorneys’ fees, arising out of or related to Interested Party’s breach of the terms and conditions of this agreement.

This document may be executed in counterparts, each of which together shall constitute one and the same document. Provided, further, this document may be executed electronically and delivered by facsimile or elec-tronic mail, and any such signature shall have the effect of an original signature.

The undersigned has/have caused this document to be executed as of the date set forth below.

Confidentiality Agreement

SIGN AND RETURN VIA EMAIL TO:

Renee Raymes or Patrick Raymes

National Broker Connect, 203 N Eagle Road, Eagle, ID 83616 • (208) 286.1570

INTERESTED PARTY (POTENTIAL PURCHASER):

INTERESTED PARTY (BROKER):

By:

Print Company: Company:

By:

Print Company: Company:

Address:

Telephone: Email:

Address:

Telephone: Email:

Date:

Title:

Date:

Title:

The Offering - 1714 North Cole Road, Boise, Idaho

Patrick Raymes| Investment Specialist 208.250.1471 [email protected]

Renee Raymes | Investment Specialist 208.890.8636 [email protected]

National Broker Connect is proud to offer this multifamily development project that’s ready to build. This

is a purchase for a paper project that’s ready to start. The offering comes complete with drawings, survey,

environmental and remediation. Just submit drawings for permit process.

This is a development of a 30 Unit multifamily.

LOCATION IS EVERYTHING! The property is located down the street from the Boise TownSquare Mall and

within a few miles from the Village in Meridian with numerous other shops, restaurant, theaters and enter-

tainment nearby. The property is made up of 1 bedrooms, 2 bedrooms and a 3 bedroom. Idaho is the fastest

growing state in the U.S. per the Census Bureau, Dec. 2017.

The property appeals to professionals, families with in-laws or older kids, and millennials with roomates, all

wanting to be close to food and entertainment. Downtown Boise and Airport are just 11 miles away.

Benefits to living at Verraso Village:

Walk-in Closets

Nearby shops, restaurants and entertainment

Public Transit nearby

30 Unit Development - Floor Plans

Unit Details

Unit Count

(6) 1-Bedroom 609 SF

(23) 2-Bedroom

7-B 770

6-C 770

2-D 910

1-E 924

5-F 786

2-G 786

(1) 3-Bedroom 1,398

(1) Office 454

Floor Square Feet

1st Floor Square Feet 7,597

2nd Floor Square Feet 7,684

3rd Floor Square Feet 7,123

4th Floor Square Feet 5,920

Total SF 28,306

DEVELOPMENT SPECS

Property Type: Multifamily

Number of Stories 4

Net Rentable Area 28,306 SF

Number of Units 30 units

Average Unit Size 870 SF

Year Built 2019—To be built

Condition New

Stabilized Occupancy 95.0%

Stabilized Credit Loss 5.0%

Acreage 0.81 Acres

Development Costs $3,484,545

Pro Forma Operating Data TOTAL UNIT

Effective Gross Income $345,457 $11,515

Operating Expenses $108,817 $3,327

Net Operating Income $236,640 $8,188

Property Description - Site Plan



NOI Evaluation

$236,640 $236,640 $236,640

5.5% Cap 5.75% Cap 6.00 Cap

Property Description -16 Unit Townhome Sales Option



Improvement Specs

Property Type: Condo Sales

Number of Stories 3





Condition New

Acreage 0.81 Acres


Effective Gross Income $4,410,000 $275,625


Sales Expenses $308,700

Equity $616,755

Conceptual Drawing Only

Improvement Specs

Property Type: Multifamily

Number of Stories 4





Condition New

Stabilized Occupancy 95.0%

Stabilized Credit Loss 5.0%

Acreage 0.81 Acres



Effective Gross Income $345,457 $11,515

Operating Expenses $108,817 $3,327

Net Operating Income $236,640 $8,188

Property Description - Site Plan



NOI Evaluation

$236,640 $236,640 $236,640

5.5% Cap 5.75% Cap 6.00 Cap

$4,3025,545 $4,115,478 $3,944,000

Location Map - Centrally Located to Boise, Meridian and Garden City



Boise River

Documents

Development Project Ready for 30 Unit Multifamily with 16