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OFFERING SUMMARY
Sale Price: $1,800,000
Price Per SF: $32.67
Lot Size: 1.28 AC
Building Size:1 55,100 SF
NOI:2 $127,280
Cap Rate: 7.07%
Zoning: City Center
Year Built: 1948
Available Office Suites: +/-7,200 SF
1 Including +/-19,440 SF lower level unimproved
2 Current rent schedule/budget opera7ng expenses
The above is provided by the Owner. Arthur Berry & Company makes no representation as to its completeness and accuracy. Price and terms subject to change at Owner’s discretion.
INVESTMENT OPPORTUNITY / MULTI-TENANT PROFESSIONAL OFFICE BUILDING
524 Cleveland Boulevard, Caldwell, Idaho
Randy Limani 208-639-6171
File 4952 / Rev20191219
PROPERTY OVERVIEW
Located in rapidly growing Caldwell, Idaho’s downtown urban renewal district, within blocks of Indian Creek Park which is “one of
the most stunning city-center parks in the western United States,” this investment opportunity was built in 1945 as a Sears
department store. The building was completely remodeled and repurposed to its current mul7-tenant office building configura7on
in 2001. In the last few years all of the first floor office suites have been newly built out for its current tenants. A por7on of the
ground level is leased to a well respected an7que retail business, otherwise the building’s tenant mix is comprised primarily of
health care tenants. The property has significant upside “value added” opportunity in that the ask price is based on current
scheduled rents with an implied vacancy of 22% and pro forma opera7ng expenses, already resul7ng in a cap rate of 7.07%.
Addi7onally, the rents are below market. There is approximately 7,200 square feet of office vacancy and approximately 19,440
square feet of lower level storage space, a large por7on of which poten7ally can be mone7zed.
PROPERTY HIGHLIGHTS
• Mul7-tenant—primarily health services
• Occupied by 9 tenants with three vacancies
• Value crea7on opportunity through mone7zing vacant space
• CAP rate based on current rent roll revenue
• Ample parking on site with addi7onal street parking available
• Investment opportunity may be combined with NNN single tenant O’Reilly’s
Auto Parts store on adjacent property (price $1,280,000 / 5.95% cap rate)
250 W Bobwhite Court, Suite 230, Boise, Idaho 83706 208-336-8000 www.arthurberry.com
ARTHUR BERRY
& COMPANY
REQUEST ADDITIONAL INFORMATION
TO RECEIVE ADDITIONAL INFORMATION, please
CLICK HERE to fill out and submit an electronic
Confiden7ality Agreement. This agreement can
also be requested by contac7ng the agent below.
The above is provided by the Owner. Arthur Berry & Company makes no representation as to its completeness and accuracy. Price and terms subject to change at Owner’s discretion.
INVESTMENT OPPORTUNITY / MULTI-TENANT PROFESSIONAL OFFICE BUILDING
524 Cleveland Boulevard, Caldwell, Idaho
Randy Limani 208-639-6171
File 4952 250 W Bobwhite Court, Suite 230, Boise, Idaho 83706 208-336-8000 www.arthurberry.com
ARTHUR BERRY
& COMPANY
SUBJECT:
The above is provided by the Owner. Arthur Berry & Company makes no representation as to its completeness and accuracy. Price and terms subject to change at Owner’s discretion.
INVESTMENT OPPORTUNITY / MULTI-TENANT PROFESSIONAL OFFICE BUILDING
524 Cleveland Boulevard, Caldwell, Idaho
Randy Limani 208-639-6171
File 4952 250 W Bobwhite Court, Suite 230, Boise, Idaho 83706 208-336-8000 www.arthurberry.com
ARTHUR BERRY
& COMPANY
5th Ave
6th Ave
Cle
vela
nd
Blv
d
Dearb
orn
St
524 Cleveland
O’R
eill
y’s
Not a part of offering, but can be purchased
SITE PLAN / FLOOR PLANS
MAIN FLOOR - STREET LEVEL
SECOND FLOOR
6th Ave
6th Ave
The above is provided by the Owner. Arthur Berry & Company makes no representation as to its completeness and accuracy. Price and terms subject to change at Owner’s discretion.
INVESTMENT OPPORTUNITY / MULTI-TENANT PROFESSIONAL OFFICE BUILDING
524 Cleveland Boulevard, Caldwell, Idaho
Randy Limani 208-639-6171
File 4952 250 W Bobwhite Court, Suite 230, Boise, Idaho 83706 208-336-8000 www.arthurberry.com
ARTHUR BERRY
& COMPANY
SITE MAP
1 SUBJECT 524 Cleveland
2 O’Reilly’s Auto Parts
3 Albertsons
4 Indian Creek Plaza
5 Treasure Valley Community
College
6 Washington Federal
7 Stinker Stores
8 Dollar Tree Store
9 Clarity Credit Union
10 Wells Fargo Bank
11 Key Bank
12 Caldwell City-Water
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