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Phone: 916-403-1812

Email: McKenney.Houck@cushwake.com

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Guthrie’s Sale-Leaseback, Meridian, ID

Guthrie’s Sale-Leaseback, Meridian, ID


Investment Summary

Price $4,455,000
Cap Rate 5.50%
NOI $245,000
Lease Term 15 years
Lease Type Absolute NNN sale-leaseback, with tenant responsible for all taxes, insurance, and maintenance, including roof, structure, and parking lot
Rental Increases 7.5% rental increases every five (5) years including options
Year Built 2023
Building Size 2,083 SF
Lot Size 0.97 acres (42,210 SF)
Status Available
Lead Brokers McKenney Houck
Senior Brokerage Coordinator
916.403.1812
mckenney.houck@cushwake.com
ID License #CB59022

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN SALE-LEASEBACK WITH $70M PERSONAL GUARANTEE
» New 15-year absolute NNN sale-leaseback
» Personal Guarantee with ~$70M net worth (stronger guarantee than many corporate tenants)
» Guthrie’s opened its first restaurant in Auburn, AL in 1965 and considers itself to be “pioneers of the fried chicken finger-only restaurants”
» Developer/Seller has signed a 100+ unit area development agreement in ID, NV, AZ, NM, & CO which will create further country-wide brand equity
» New high-quality 2023 construction built to latest Guthrie’s prototype
» Site features a drive-thru for added customer convenience

PROMINENT RETAIL CORRIDOR CENTRALLY LOCATED IN ONE OF THE MOST SOUGHT-AFTER MSA’S IN THE COUNTRY
» Strategically located just off the hard signalized, booming retail intersection of West Chinden Blvd and North Linder Road (combined 35,070 AADT with direct access from North Linder Road)
» Adjacent to a Eagle Island Marketplace, anchored by Fred Meyers and includes major retailers such as Starbucks, McDonald’s, O’Reilly Auto Parts, Taco Bell, and Sherwin-Williams Paint Store
» Across from Orchard Park, a new retail center anchored by WinCo Foods and includes restaurants such as Olive Garden, Chipotle Mexican Grill, and Wendy’s
» Located 1.3 miles from Costco Wholesale

5-MILE POPULATION OF 161K RESIDENTS AND 1-MILE AHHI OF $178K+
» One of the most densely populated and affluent areas in all of Idaho
» 161,629 residents live within five miles of the property – a 60% increase since 2010
» Excellent average annual household income of $178,159 within a one-mile radius of the property
» The site is surrounded by densely populated neighborhoods and communities such as Bellano Creek Subdivision (168 homesites), Silverleaf Subdivision (140 homesites), and Sawtooth Creek Subdivision (98 homesites)
» Close proximity to several well-attended schools including Rocky Mountain High School (1,978 students), Heritage Middle School (1,041 students), and Sawtooth Middle School (923 students)

Property Description

» Strategic Location: Just off the signalized intersection of U.S. Route 20 / U.S. Route 26 / West Chinden Boulevard and North Linder Road (combined 35,070 AADT)
» Quickly Growing Retail Corridor: Adjacent to Eagle Island Marketplace (anchored by Fred Meyers), across from Orchard Park (anchored by WinCo Foods), and surrounded by major national retailers including Starbucks, McDonald’s, Olive Garden, Chipotle, and many more
» Affluent and Densely Populated Area: Within a 1-mile radius of the site the average annual household income is $178,159, while 161,629 residents live within 5 miles of the site
» Beneficial Proximity to Recreational Areas: This Guthrie’s is just down the street from The Club at SpurWing (a country club featuring an 18-hole Championship Golf Course) and Eagle Island State Park (a 545-acre park with facilities including a swimming beach, picnic area, equestrian trails, and a water slide)
» Surrounded by Well-Attended Schools: Across the street from Willow Creek Elementary (567 students) and Challenger School – Meridian (405 students), and located less than three miles from Rocky Mountain High School (1,978 students), Heritage Middle School (1,041 students), and Sawtooth Middle School (923 students)
» Gateway to Boise: Located less than 13 miles from Boise (the capital city of Idaho with a population of 236,634) and Boise State University (home to 26,000+ students)

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