Sale Summary YELLOWSTONE AVE Pocatello, ID

Size: px

Start display at page:

Download "Sale Summary YELLOWSTONE AVE Pocatello, ID"

Alvin Anderson
5 years ago
Views:

Sale Summary 506-516 YELLOWSTONE AVE Pocatello, ID Net Leased Retail Investment on Major Artery Road in America s Fastest Growing State. DON ZEBE 208 403 1973 don.

1 Sale Summary YELLOWSTONE AVE Pocatello, ID Net Leased Retail Investment on Major Artery Road in America s Fastest Growing State. DON ZEBE don.zebe@colliers.com JARED ZEBE jared.zebe@colliers.com Colliers International Idaho 2043 East Center Street, Pocatello, Idaho

60 Acres RPIDT002101 Investment Details Pricing:

location on Pocatello arterial road, Yellowstone

remodeled» New roofs» Long term tenants - 5 year

2 Property Overview Profile Building Size: Land Size: Parcel: 7,250 SF 0.60 Acres RPIDT Investment Details Pricing: $882,000 Cap Rate: 8.25% Price/PSF: $ Parking: 4.72 / 1,000 NOI: $72,834 Highlights» Prime location on Pocatello arterial road, Yellowstone Ave» NNN leases» NO deferred maintenance» Newly remodeled» New roofs» Long term tenants - 5 year leases» Signalized corner location (25,500 VPD)» Corner shared with Hirning GMC, Ireland Bank, and Urgent Care Facility

3 Site Plan Yellowstone Ave 25,500 vpd Pine St 2,400 vpd More Mattress 506

4 Location

5 Demographics Yellowstone Ave, Pocatello, ID 1 Mile 3 Miles 5 Miles POPULATION 2018 Estimated Population 12,946 57,587 71, Projected Population 13,324 59,088 73, Census Population 12,816 55,997 69,324 Projected Annual Growth 2018 to % 0.5% 0.5% HOUSEHOLD 2018 Estimated Households 5,346 22,492 27, Projected Households 5,556 23,316 28, Census Households 5,162 21,398 25,882 Projected Annual Growth 2018 to % 0.7% 0.7% INCOME 2018 Est. Average Household Income $49,591 $61,177 $64, Est. Median Household Income $37,610 $47,722 $50,968 MISC Median Home Value $114,288 $140,790 $147, Median Rent $548 $551 $ Est. Median Age Average Travel Time to Work Est. Labor Population Age 16+ 9,958 44,479 54, Est. Total Household Expenditure $232 M $1.12 B $1.41 B

Area Overview ABOUT POCATELLO Pocatello serves

semiconductor design, wafer fabrication,

and more than 160,000 in the larger trade area.

museums, parks, golf courses, a zoo and both a

diverse with several large industry leading

Pocatello is in the middle of an unspoiled

Millions of acres of publicly managed land

cliffs, lakes, rivers, and natural hot springs

Popular activities include fishing, hunting,

6 Area Overview ABOUT POCATELLO Pocatello serves as the educational and commercial center for Eastern Idaho with an economy driven by research, food production/processing, semiconductor design, wafer fabrication, medical, manufacturing and fabrication, data processing and telecommunications. The metro area has approximately 85,000 people and more than 160,000 in the larger trade area. Pocatello offers shopping, theater, movies, museums, parks, golf courses, a zoo and both a hot springs resort and ski area within 1/2 hour drives. The trade area is economically and culturally diverse with several large industry leading companies and Idaho State University, the 3rd largest university in Idaho. The Shoshone-Bannock Tribe, located on the Fort Hall Reservation just north of the Pocatello Metro Area contributes $400 million to the regional economy each year. Idaho is known for world-class recreation and Pocatello is in the middle of an unspoiled outdoor paradise. Millions of acres of publicly managed land surround the city with endless mountains, cliffs, lakes, rivers, and natural hot springs offering an abundance of outdoor recreation. Popular activities include fishing, hunting, rock climbing, water skiing, rafting, swimming, snow skiing, hiking, mountain biking, snowmobiling, and horseback riding. MAJOR AREA EMPLOYERS 4,162 1, ,200 1, ,100 2,200

Area Overview IDAHO TAX OVERVIEW Sales and Use Tax in Idaho is 6%. This would apply to items purchased or consumed in Idaho.

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.

8% Bannock County Average Range: 0.8-1.2% Canyon County Average Range: 1.5% - 2.5% Elmore County Average rate: 1.8% Corporate Income Tax Computed at 7.4% of the Idaho taxable income of a corporation.

The apportionment formula is made up of a property factor, a payroll factor, and a sales factor.

factor. The Idaho apportionment factor is then applied to the business income of the corporation to compute income assigned to Idaho.

7 Area Overview IDAHO TAX OVERVIEW Sales 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 Rates: Ada County Average Range: 1.1% - 1.8% Bannock County Average Range: % Canyon County Average Range: 1.5% - 2.5% Elmore County Average rate: 1.8% 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 TAX $7.25/hr 1.91% #2 BEST STATE 2043 E Center Street, Pocatello, Idaho STATE UNEMPLOYMENT INSURANCE RATE PERSONAL INCOME TAX RATE RANGE Property tax rate 7.1% Rate range on a bracketed system based on income levels UNION MEMBERSHIP (NAT L AVG: 11.9%) PROPERTY EXEMPTION First $100,000 of personal property is exempt from taxation IDAHO IS A right to work STATE MINIMUM WAGE 1.6%-7.8% (2013 Tax Foundation Study) Idaho does not have an inventory tax. Colliers International Idaho 7% 6% CORPORATE INCOME TAX

506-516 YELLOWSTONE AVE Pocatello, ID DON ZEBE 208 403

8 YELLOWSTONE AVE Pocatello, ID DON ZEBE JARED ZEBE Colliers International Idaho 2043 East Center Street, Pocatello, Idaho

4101 Yellowstone Avenue Chubbuck, ID Pocatello-Chubbuck MSA

Sale Summary AT PINE RIDGE MALL 4101 Yellowstone Avenue Chubbuck, ID Pocatello-Chubbuck MSA Newly Built with Fifteen Year Lease DON ZEBE 208 403 1973 don.zebe@colliers.com JARED ZEBE 208 709 7311 jared.zebe@colliers.com