Investment Summary
Price | $2,028,000 |
Cap Rate | 6.00% |
NOI | $121,680 |
Lease Term | 15 years |
Lease Type | Absolute NNN lease with tenant responsible for all taxes, insurance and maintenance including roof, structure and parking lot |
Rental Increases | 10% rental increases every five (5) years |
Year Built | 1995 (Retrofitted in 2023) |
Building Size | 2,704 SF |
Lot Size | 0.779 acres (33,947 SF) |
Status | Available |
Lead Brokers | Vincent Aicale Vice Chairman 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Vice Chairman 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Michael T. Yuras, CCIM Vice Chairman 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Executive Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
NEW 15-YEAR ABSOLUTE NNN LEASE WITH SCHEDULED RENTAL INCREASES
» 15-year absolute NNN lease with a strong guaranty
» Scheduled rental increases with two (2) five (5) year options
» BW Blacksmith Coffee Company is a growing private company with 13 locations in Montana, Georgia, and Florida
HIGH-VISIBILITY RETAIL HUB LOCATION NEAR MAJOR RETAILERS AND INTERSTATE 90
» Conveniently situated along South 20th Street West near the King Avenue signalized intersection, benefiting from a high daily combined traffic volume of 49,646 vehicles
» Well-positioned in a dense retail corridor and surrounded by major establishments such as Costco, Walmart Supercenter, Lowe’s, Home Depot, PetSmart, Best Buy, Ross, Chick-fil-A, Olive Garden, and numerous others
» One mile from Interstate 90 (30,074 AADT), a crucial east-west transcontinental highway connecting Seattle to Boston
» Eight large hotels situated within a one-mile radius with 709 guest rooms, providing a large transient customer base
» Centrally positioned between Montana State University Billings (2,818 students) and City College at Montana State University Billings (4,057 students) and minutes from St. Vincent Healthcare, a 286-bed hospital, and Advanced Care Hospital of Montana (40 beds)
STRATEGIC BUSINESS HUB IN THE LARGEST CITY IN MONTANA WITH A GROWING POPULATION
» Rapidly growing population of 94,280 within a five-mile radius, experiencing an impressive 11% increase since 2010
» Average annual household income of $85,288 within five miles and projected to increase by 15% over the next five years
» Situated in Billings (the largest city in Montana with 117,116 residents), the location provides access to a substantial trade area of over 500,000 people
» Billings serves as a prominent business, transportation, and sales hub, strategically connecting Denver and Calgary, as well as Seattle and Minneapolis
Property Description
» Strategic Location for Seamless Connectivity: Easily accessible location situated along South 20th Street West near the King Avenue signalized intersection, benefiting from a high daily combined traffic volume of 49,646 vehicles. Additionally, the property is located just one mile away from Interstate 90, a crucial east-west transcontinental highway connecting Seattle to Boston, ensuring convenient travel and seamless connectivity for the site
» Strong Retail Presence: Well-positioned in a dense retail corridor surrounded by major establishments like Costco, Walmart Supercenter, Lowe’s, Home Depot, PetSmart, Best Buy, Ross, Chick-fil-A, Olive Garden, and numerous other popular brands allowing the property to capture cross over traffic
» Near Education and Healthcare Hub: Benefits from the central location between Montana State University Billings (2,818 students) and City College at Montana State University Billings (4,057 students), along with easy access to St. Vincent Healthcare, a 286-bed hospital, and Advanced Care Hospital of Montana (40 beds), attracting a diverse and engaged community
» Beneficial Proximity to Hospitality: Poised to leverage a nearby captive customer base with eight large hotels situated within a one-mile radius, with a total of 709 guest rooms, allowing the site to tap into a steady flow of visitors and enhancing foot traffic and sales revenue
» Robust Demographics and Strategic Hub for Business: Rapidly growing population of 94,280 within a five-mile radius, boasting an impressive 11% increase since 2010. Combined with an average annual household income of$85,288 projected to rise by 15% over the next five years, BW Blacksmith and Billings are poised for concurrent growth. Its strategic location in Billings also benefits from being at the center of regional commerce and trade