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1550 S. Cloverdale Road Boise,

FOR SALE - OFFICE INVESTMENT

Derek Pollard, CCIM Ben Kneadler, CCIM 208.229.2020 | 208.869.9104 208.229.2020 | 208.353.2242 [email protected] [email protected]

Property Information

ADDRESS: 1550 S. Cloverdale Rd, Boise, ID HIGHLIGHTS PROPERTY TYPE: Class A Office • Full-service executive suites BUILDING SIZE: ±12,014 SF • Located at NEC of W. Overland Road and S. Cloverdale Road

LAND SIZE: ±1.262 acres • Excellent visibility to over 40,000 vehicles per day • U.S Census ranks Meridian the 5th fastest growing city in the U.S. YEAR BUILT: 2014 • Centrally located within the Boise Valley with easy freeway access at AVAILABLE SF: ± 12,014 SF (divisible) the Eagle Road interchange

PARKING: 42 SPACES (3.5/1000 SF) • Consistently high occupancy rate since built • Elevator 5-year load test completed December 2019 PRICE: $2,499,998 • Multiple access points YEAR 1 NOI: $159,646 • Shared parking lot

CAP RATE: 6.41%

# OF FLOORS: 3 FINANCIAL SUMMARY

Gross Rental Income * $211,966 Less: 3% Vacancy Rate $6,359 Plus: Other Income $10,100 GROSS OPERATING INCOME $215,707

TOTAL OPERATING EXPENSES $55,445 YEAR 1 NET OPERATING INCOME $160,262

* Assumes 2nd conference room conversion to office suite

NAI SELECT | 1550 S. CLOVERDALE RD | BOISE, ID

Aerial

NAI SELECT | 5531 N. GLENWOOD STREET | BOISE, ID

Aerial

NAI SELECT | 5531 N. GLENWOOD STREET | BOISE, ID

3-D Floor Plan

NAI SELECT | 5531 N. GLENWOOD STREET | BOISE, ID

Floor Plan

Tenants - First Floor

NAI SELECT | 5531 N. GLENWOOD STREET | BOISE, ID

Floor Plan

Tenants - Second Floor

NAI SELECT | 5531 N. GLENWOOD STREET | BOISE, ID

Floor Plan

Tenants - Third Floor

NAI SELECT | 5531 N. GLENWOOD STREET | BOISE, ID

Demographic profile

2019 SUMMARY 1 Mile 3 Miles 5 Miles

Population 8,562 80,574 224,141

Households 2,961 28,891 81,992

Average Household Size 2.88 2.78 2.71

Median Age 39.2 36.3 35.8

Average Household Income $102,795 $87,375 $80,557

2024 ESTIMATE 1 Mile 3 Miles 5 Miles

Population 9,703 90,997 248,794

Households 3,361 32,623 90,884

Average Household Size 2.87 2.78 2.71

Median Age 39.7 36.9 36.2

Average Household Income $118,536 $101,153 $93,374

AVERAGE HOUSEHOLD INCOME OF $102,795 POPULATION OF 224,141 WITHIN FIVE MILES WITHIN ONE MILE

NAI SELECT | 1550 S. CLOVERDALE RD | BOISE, ID

Area Overview

Boise is the capital of and most populous city in Idaho, as well as the county seat of Ada MAJOR EMPLOYER IN BOISE MSA # OF EMPLOYEES County. Located on the in , the population of Boise in 2018 SAINT LUKE’S REGION MEDICAL CENTER 7.500 was 227,531. Boise anchors the Boise-Nampa Metropolitan Statistical Area (MSA), also known as the Treasure Valley, which includes five counties with a combined population MICRON TECHNOLOGY 6,000 of 742,159, making it the most populous metropolitan area in Idaho. The region boasts a diverse economy, with a thriving mix of high tech, agribusiness, and manufacturing WEST ADA SCHOOL DISTRICT 4,100 businesses, along with a young, educated workforce to serve them. While government, BOISE SCHOOL DISTRICT 3,700 education, and healthcare remain core industries, Boise has cemented itself as an affordable launch pad for tech careers, attracting major industry employers like Hewlett Packard and 3,600 Micron along with a burgeoning startup ecosystem. Boise is the headquarters for several SAINT ALPHONSUS REGIONAL MEDICAL major companies, including Albertsons, Boise Cascade LLC, J.R. Company, Idaho 3,500 CENTERS Pacific Lumber Company, Idaho Timber, WinCo Foods, Bodybuilding.com, and Clearwater WALMART 2,900 Analytics. As the political, business, and cultural center of Idaho, Boise offers enviable access to CITY OF BOISE 2,000 amazing amenities, as well as affordable housing. Boise is a regional hub for jazz, theater, HEWLETT PACKARD 1,900 and indie music, and is home to several museums. Boise is also home to Idaho’s largest retail complex, Mall, which is a major shopping attraction for Boise, J.R. SIMPLOT COMPANY 1,900 Nampa, Caldwell, and surrounding areas. Boise State University is also located in Boise; the college is the largest university in the state, with a total enrollment of 25,540 students. Boise is served by Interstate 84, which connects the region to Portland and Salt Lake City, and the Boise Airport. Boise Airport is by far the busiest airport in the state of Idaho, serving more passengers than all other Idaho airports combined and roughly ten times as many passengers as Idaho’s second busiest airport, Idaho Falls Regional Airport.

• The Boise MSA contains Idaho’s three largest cities: Boise, Nampa, and Meridian. Nearly 40% of Idaho’s total population lives in the Boise MSA. Boise is the third most populous metropolitan area and city in the ’ Pacific Northwest region, behind Seattle and Portland. • The Boise region is growing rapidly; on the West Coast, the Boise MSA has a higher net domestic in-migration rate than any other metro region. In the country, the Boise MSA ranked fifth for 2016 in-migration rates. As a result, Boise’s population has more than doubled in the past 30 years. • Boise has a long history of being ranked near the top of the nation’s best places to live, due to the region’s quality of life, affordability, recreational opportunities, and great business environment.

NAI SELECT | 1550 S. CLOVERDALE RD - BOISE, IDAHO | 11

Confidentiality Agreement

The undersigned has been advised that NAI Select (the “Broker”) has been retained by the Owner with respect to the offering for sale of 1550 S. Cloverdale Rd, Boise, ID (the “Property”). The Owner has indicated that all inquiries and communications with respect to the contemplated sale of such Property be directed to Broker. All fees due to Broker in connection with the sale of the Property shall be paid by the Owner. The undersigned hereby acknowledges that it is a principal or an investment advisor in connection with the possible acquisition of the Property.

On behalf of the Owner, Broker may make such Confidential Information available to the undersigned upon execution of this Confidentiality Statement. The Confidential Information is intended solely for your use in considering whether to pursue negotiations to acquire the Property. This is not an agreement to sell the Property nor an offer of sale. No agreement binding upon the Owner of the Property, or any of its associated or affiliated companies, shall be deemed to exist, at law or equity, until the Owner of the Property enters into a formal binding agreement of sale.

The Evaluation material does not purport to provide a necessarily accurate summary of the Property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information that a prospective investor may need or desire. All financial projections are based on assumptions relating to the general economy, competition and other factors beyond the control of Broker; and therefore, are subject to material variation. This Evaluation material does not constitute an indication that there has been no change in the business or affairs of the Property or Broker since the date of preparation of this Evaluation material. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective buyers.

Neither Broker nor any of its respective officers, agents or principals has made or will make any representations or warranties, expressed or implied, as to the accuracy or completeness of this Evaluation material or any of its contents, and no legal commitment or obligation shall arise by reason of the Evaluation material or its contents. Analysis and verification of the information contained in the Evaluation material is solely the responsibility of the prospective buyer. The Confidential Information contains brief, selected information pertaining to the business and affairs of the Owner, and has been prepared by Broker, primarily from information supplied by the Owner or the Owner’s agent. It does not purport to be all-inclusive or to contain all the information that a prospective purchaser may desire. Neither Broker, nor the Owner make any representation or warranty, expressed or implied, as to the accuracy or completeness of the Confidential Information and no legal liability is assumed or to be implied with respect thereto.

By accepting this Evaluation material, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy, forward via email or duplicate it, that you will not disclose the Evaluation material or any of its contents to any other entity (except for outside advisors retained by you if necessary, in your opinion, to assist in your determination of whether or not to make a proposal, provided that such advisors agree to be bound by the terms of this confidentiality agreement) without prior written authorization of Broker, and that you will not use the Evaluation material or any of its contents in any fashion or manner detrimental to the interest of Broker or Owner. If you do not wish to pursue acquisition negotiations you hereby agree to return the Confidential Information to Broker.

LISTING BROKERS: AGREED AND ACCEPTED BY:

NAI Select Name: ______Signature: ______

Derek Pollard, CCIM Ben Kneadler, CCIM Company: ______Phone: ______208-229-6012 208-229-6002 [email protected] [email protected] Address: ______Email: ______

NAI SELECT | 1550 S. CLOVERDALE RD - BOISE, IDAHO | 13 Exclusive Contacts:

Derek Pollard, CCIM Ben Kneadler, CCIM Agent Principal 208.229.2020 | 208.229.6012 208.229.2020 | 208.229.6002 [email protected] [email protected]

No warranty, express or implied, is made as to the accuracy of the information contained herein. This information is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and is subject to any special listing conditions imposed by our principals. Cooperating brokers, buyers, tenants and other parties who receive this document should not rely on it, but should use it as a starting point of analysis, and should independently confirm the accuracy of the information contained herein through a due diligence review of the books, records, files and documents that constitute reliable sources of the information described herein.