Our TownOFFERING MEMORANDUM
39 W Idaho Street, Weiser, IDSingle Tenant Net Leased Medical Office Building For Sale
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FAMILY DENTISTRY
LEW GOLDMAN208 472 [email protected]
Guaranteed by Lonepeak Dental Group
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OUR TOWN FAMILY DENTISTRYProperty Overview
Profile
Property Name: Our Town Family Dentistry
Address: 39 W Idaho Street, Weiser, ID 83672
Building Size: 2,000 SF
Land Size: 0.07 Acres
Parcel: RPW2650015004A
Parking: Rear lot and downtown on-street parking
Highlights » Brand new 7 year lease
» Lonepeak Dental Group is a exceptionally strong tenant and a leader in the field of dentistry
» Rare low price point for a single tenant building with great credit
» Single tenant net leased investment
» Passive NNN structured lease
» Set in the middle of Weiser’s Central Business District
» Extremely strong guaranty on the lease
» Rare for this type of tenant to relocate based on extensive build-out and prohibitive costs
Pricing
Sale Price: $497,000
NOI: $36,000
Cap Rate: 7.25%
Occupancy: 100%
Lease Start: 10/1/18
Lease End: 10/1/25
Increases: 10% year 5
Initial Lease Term: 7 years
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OUR TOWN FAMILY DENTISTRYLocation
Ontario20 Min DrivePop: 53,844
Baker City1 hr DrivePop: 9,828
Boise - Nampa - Caldwell40 Min to 1 hr DriveMetro Pop: 709,845
Weiser
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OUR TOWN FAMILY DENTISTRYTenant & Town Overview
OUR TOWN FAMILY DENTISTRY
Our Town Family Dentistry has been taking care of patients in the Washington County Idaho area for over 15 years. They pride themselves in providing high quality affordable dental care in a caring and compassionate environment.
Weiser, Idaho
Weiser is a small rural community of 5,507 located in southwest Idaho and the home of the National Oldtime Fiddle Contest and Festival. Located at the confluence of the Weiser and Snake Rivers, the City of Weiser is the county seat of Washington County. Weiser takes pride in its rich history and is represented by many of its original buildings, which are now on the National Historic Register.
Today, the City of Weiser upholds its reputation as a community tied together through traditional family values and a sincere sense of community. With its strong natural resources, agricultural and ranching heritage, the City of Weiser’s innovative spirit can be seen in our downtown revitalization, several new parks and our beautiful Vendome Events Center. Industry and business include forest products, food processing, and technical innovations.
Weiser was named the Safest City in Idaho in 2014 and 2017 by the National Council for Home Safety and Security
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OUR TOWN FAMILY DENTISTRYDemographics
39 W Idaho St | Weiser, ID 1 Mile 3 Miles 5 Miles
POPULATION
2018 Estimated Population 4,765 6,778 7,817
2023 Projected Population 5,072 7,204 8,300
2010 Census Population 4,874 6,881 7,909
2000 Census Population 4,797 6,746 7,734
Projected Annual Growth 2018 to 2023 1.3% 1.3% 1.2%
HOUSEHOLD
2018 Estimated Households 1,931 2,747 3,153
2023 Projected Households 1,971 2,804 3,220
2010 Census Households 1,895 2,681 3,071
INCOME
2018 Est. Average Household Income $43,920 $47,380 $49,699
2018 Est. Median Household Income $38,634 $40,024 $40,973
MISC.
2018 Est. Labor Population Age 16+ 3,757 5,354 6,182
2010 Median Home Value $120,662 $134,363 $142,026
2010 Median Rent $491 $495 $496
2018 Est. Median Age 40.3 41.4 41.9
2017 Est. Labor Population Age 16+ 6,864 76,043 157,066
2018 Est. Total Household Expenditure $77.6 M $116 M $137 M
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OUR TOWN FAMILY DENTISTRYArea Overview
IDAHO TAX OVERVIEWSales 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. 2017 Rates: Ada County Average Range: 1.1% - 1.8% Bannock County Average Range: 0.8 - 1.2% Canyon County Average Range: 1.5% - 2.5% Elmore County Average Range: 1.8%
Idaho does not have an inventory tax.
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 TAX6%
CORPORATE INCOME TAX7% MINIMUM
WAGE$7.25/hr
STATE UNEMPLOYMENT INSURANCE RATE1.91%
UNION MEMBERSHIP(NAT’L AVG: 11.9%)7.1%
PERSONAL INCOME TAX RATE RANGE Rate range on a bracketed system based on income levels
1.6%-7.8%#2 BEST STATE Property tax rate (2013 Tax Foundation Study)
PROPERTY EXEMPTIONFirst $100,000 of personal property is exempt from taxation
right to workIDAHO IS A
STATE
OUR TOWN FAMILY DENTISTRY39 West Idaho Street — Weiser, ID
Col l iers Internat ional Idaho | 755 West Front Street , Sui te 300 Boise , Idaho 83702 | www.col l iersboise.com | 208 345 9000
LEW GOLDMAN208 472 2847
