Bank-Anchored NNN Investment

Investment Overview

Located in the heart of Downtown Nampa, 1217 2nd St S presents a rare opportunity to acquire a bank-anchored, multi-tenant investment offering stable in-place income with multiple avenues for long-term value creation. Priced at $4,240,000, the property generates $241,047 in current NOI and is located within a Census Tract recommended by the Governor of Idaho for Opportunity Zone 2.0 designation. The property includes 13,043 square feet of above-grade space, plus a 4,000-square-foot basement. The above-grade space was substantially remodeled in 2024 and is anchored by First Federal Bank, alongside Pub & Putt and Solovey Kitchen. Significant capital investment by First Federal Bank and Solovey Kitchen demonstrates meaningful tenant commitment to the asset, while the diversified tenant mix provides multiple income streams. All three tenants operate under NNN lease structures with contractual annual rent increases ranging from 2.5% to 3.5%, providing built-in income growth with limited landlord responsibilities. Additional upside may be available through First Federal Bank’s below-market rent and the approximately 4,000 SF basement, which may provide an opportunity for future lease-up or additional income. The property’s private on-site parking—a rare amenity in the downtown core—further elevates its appeal and accessibility. The DH zoning supports a vibrant mix of retail, office, and residential uses, with city-backed incentives available for future façade or tenant improvements. As part of the expanding Boise Valley metro, projected to surpass 1 million residents by 2050, this asset benefits from strong regional fundamentals, low vacancy rates, and robust economic growth driven by major employers such as Micron, HP, and Amazon. Combining creditworthy tenants, a revitalized downtown setting, and stable income performance, 1217 N 2nd St S stands as a secure and strategic investment in one of Idaho’s fastest-growing urban districts.

Investment Highlights

• Rare Downtown Nampa Retail Investment Opportunity: Unique opportunity to acquire a fully leased retail asset in the heart of Downtown Nampa, offering stable in-place income, long-term value creation potential and a location within a Census Tract recommended by the Governor of Idaho for Opportunity Zone 2.0 designation.
• Bank-Anchored, Fully Leased Multi-Tenant Asset: 100% leased multi-tenant property anchored by First Federal Bank, providing dependable income and strong tenant stability.
• Significant Tenant Investment & Commitment: Major capital investment by First Federal Bank and Solovey Kitchen demonstrates strong tenant commitment to the property and supports long-term occupancy.
• Contractual Rent Growth: NNN leases feature annual rent increases ranging from 2.5% to 3.5%, providing consistent contractual income growth with limited landlord responsibilities.
• Additional NOI & Value-Add Upside: Potential upside through below-market rent from the bank anchor and approximately 4,000 SF of currently vacant basement space that may provide an opportunity for additional income.
• Recently Remodeled: Property underwent substantial remodeling in 2024, providing updated improvements and reducing near-term capital requirements.
• Rare Dedicated Downtown Parking: Private on-site parking provides a significant competitive advantage and highly desirable amenity within the Downtown Nampa core.