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2490 S Cloverdale Rd 4,192 SF Retail Building Boise, ID 83709 $2,730,901 CAD ($651.46 CAD/SF) 7% Cap Rate
Investment Highlights
- Passive Absolute NNN Structure: The lease is structured as absolute NNN, eliminating landlord responsibilities for taxes, insurance, and maintenance
- Annual Rental Growth: Lease includes 2 percent annual rent increases, providing built in income growth and inflation protection.
- Established Operating Location: The property has operated as a daycare facility since 2005, demonstrating long term operational viability and consiste
- Long Term Lease: The tenant executed a new seven year lease beginning September 2023, providing immediate cash flow and lease term security.
- Recession Resistant Asset Class: Childcare properties historically perform well across economic cycles due to essential service demand and dual income
- Large Land Parcel: Situated on approximately 0.9 acres, providing ample outdoor play areas and parking which are critical components for childcare fac
Executive Summary
Goldman | Ryden is pleased to present the opportunity to acquire Happy Hearts Learning Center, a single-tenant, absolute NNN daycare investment located in Boise, Idaho. With zero landlord responsibilities, this asset offers a truly passive investment profile.
The property consists of a 4,192 square foot, purpose-built childcare facility situated on 0.906 acres in a high-growth residential corridor. The asset is secured by a new 7-year absolute NNN lease to Happy Hearts Learning Center, featuring 2.0 percent annual rent increases, delivering stable and predictable income.
Strategically located adjacent to Pepper Ridge Elementary School and surrounded by dense and expanding residential development, the property benefits from strong underlying demographics, long-term demand drivers, and a consistent childcare customer base.
The property consists of a 4,192 square foot, purpose-built childcare facility situated on 0.906 acres in a high-growth residential corridor. The asset is secured by a new 7-year absolute NNN lease to Happy Hearts Learning Center, featuring 2.0 percent annual rent increases, delivering stable and predictable income.
Strategically located adjacent to Pepper Ridge Elementary School and surrounded by dense and expanding residential development, the property benefits from strong underlying demographics, long-term demand drivers, and a consistent childcare customer base.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
4,192 SF
Building Class
B
Year Built
2005
Price
$2,730,901 CAD
Price Per SF
$651.46 CAD
Cap Rate
7%
NOI
$191,163 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
0.91 AC
Zoning
R-1C
Parking
20 Spaces (4.77 Spaces per 1,000 SF Leased)
Frontage
133’ on Cloverdale Rd
Amenities
- Pylon Sign
Fairly walkable
40/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | S1122325852 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,342,250 CAD |
Property Taxes
Parcel Number
S1122325852
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,342,250 CAD
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2490 S Cloverdale Rd
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