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1101 W Front St Immeuble de 244 990 pi² • Spécialité • À vendre 17 589 784 $ CAD • Taux de capitalisation 6,15% • Boise, ID 83702
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Faits saillants de l'investissement
- Special Purpose | Parking Garage | 6.15% CAP | 244,990 SF | 578 stall for sale
Résumé de l'annonce
AMENITIES & LOCATION ADVANTAGES
* Structure: Mixed-use development with Parking Garage - Multi-level, approx. 828 stalls | Commercial Units - Retail spaces on first floor (separate ownership).
* Ownership of Garage Units:
-- BVGC Parcel B (Interest for Sale): 578 stalls (approx. 69.9% share).
-- CCDC (Agency): 250 stalls (approx. 30.1% share).
-- Capital City Development Corporation (CCDC) is Boise’s urban renewal agency, established in 1965 to catalyze downtown economic development and infrastructure investment through public–private partnerships across multiple urban renewal districts.
1. High Utilization in Core Market
* Strong garage occupancy in key downtown sub-areas supports stable and growing utilization, creating a solid foundation for revenue continuity.
2. Upside Potential
* In place monthly rents of $125 is the lowest of the downtown garages which average $159/ month
* Ability increase monthly permit oversell from current 113% to industry average of 125%-133%
* Offered well below replacement cost
3. Multiple Demand Drivers
* Excellent mix of office, retail, hospitality and transient users
4. Structured Public Parking System
* BMPBOI’s network of six garages—managing nearly one million annual visits—provides scale and brand strength, reinforcing BVGC’s asset value.
5. Revenue Strength & Pricing Dynamics
* Visitor-friendly garage rates with free first hour support usage levels and sustain recurring revenue.
* Meter adjustments create ancillary revenue gains and support broader parking ecosystem viability.
6. Demand Momentum & Strategic Positioning
* Policy shifts—meter zone expansion, uniform rates, extended enforcement—reflect proactive demand management that directly benefits garage operators.
7. Asset Resilience
* Downtown Boise’s limited land and rising parking needs provide defensive investment advantages, with long-term growth in parking usage expected.
* Structure: Mixed-use development with Parking Garage - Multi-level, approx. 828 stalls | Commercial Units - Retail spaces on first floor (separate ownership).
* Ownership of Garage Units:
-- BVGC Parcel B (Interest for Sale): 578 stalls (approx. 69.9% share).
-- CCDC (Agency): 250 stalls (approx. 30.1% share).
-- Capital City Development Corporation (CCDC) is Boise’s urban renewal agency, established in 1965 to catalyze downtown economic development and infrastructure investment through public–private partnerships across multiple urban renewal districts.
1. High Utilization in Core Market
* Strong garage occupancy in key downtown sub-areas supports stable and growing utilization, creating a solid foundation for revenue continuity.
2. Upside Potential
* In place monthly rents of $125 is the lowest of the downtown garages which average $159/ month
* Ability increase monthly permit oversell from current 113% to industry average of 125%-133%
* Offered well below replacement cost
3. Multiple Demand Drivers
* Excellent mix of office, retail, hospitality and transient users
4. Structured Public Parking System
* BMPBOI’s network of six garages—managing nearly one million annual visits—provides scale and brand strength, reinforcing BVGC’s asset value.
5. Revenue Strength & Pricing Dynamics
* Visitor-friendly garage rates with free first hour support usage levels and sustain recurring revenue.
* Meter adjustments create ancillary revenue gains and support broader parking ecosystem viability.
6. Demand Momentum & Strategic Positioning
* Policy shifts—meter zone expansion, uniform rates, extended enforcement—reflect proactive demand management that directly benefits garage operators.
7. Asset Resilience
* Downtown Boise’s limited land and rising parking needs provide defensive investment advantages, with long-term growth in parking usage expected.
Faits sur la propriété
| Prix | 17 589 784 $ CAD | Taille du lot | 1,72 AC |
| Prix par pi² | 71,80 $ CAD | Taille du bâtiment | 244 990 pi² |
| Type de vente | Investissement | Nombre d’étages | 4 |
| Taux de capitalisation | 6,15% | Année de construction | 2017 |
| Type de propriété | Spécialité | Ratio de stationnement | 3,38/1 000 pi² |
| Sous-type de propriété | Parc de stationnement couvert | Numéro de lot | R0066200010 |
| Classe d’immeuble | B | ||
| Zonage | ZC-259 | ||
| Prix | 17 589 784 $ CAD |
| Prix par pi² | 71,80 $ CAD |
| Type de vente | Investissement |
| Taux de capitalisation | 6,15% |
| Type de propriété | Spécialité |
| Sous-type de propriété | Parc de stationnement couvert |
| Classe d’immeuble | B |
| Taille du lot | 1,72 AC |
| Taille du bâtiment | 244 990 pi² |
| Nombre d’étages | 4 |
| Année de construction | 2017 |
| Ratio de stationnement | 3,38/1 000 pi² |
| Zonage | ZC-259 |
| Numéro de lot | R0066200010 |
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