4554 West Chinden Boulevard, Boise, ID for sale

Investment Overview

Lee & Associates is pleased to present 4554 W Chinden Blvd which is a fully leased, four-tenant retail building on one of Garden City’s main commercial corridors. The ±11,515 SF single-story building sits on ±0.689 acres, with continuous storefront glass and pylon signage facing daily traffic on Chinden Blvd. The tenant mix is built on service and specialty retail that customers make a trip for. Continental Battery Co. (Battery Systems) anchors the building in about 5,472 SF and has been at this location since 2007. Its current term runs through 2030. Wylie Records, Ultimate Tint Shop, and Exotic Vape round out the building, giving an investor four separate income streams instead of a single-tenant bet. Offered at $1,910,000 ($166/SF), the property produces an in-place NOI of approximately $130,600, a 6.84% cap rate, rising to about $133,500 (6.99%) in 2027 from contractual rent increases. In-place rents average about $13.07/SF on a base-rent basis, low for Chinden Blvd frontage. Several leases come up for renewal over the next few years, giving a new owner room to bring rents to market. Most of the leases pass expenses through to tenants with annual increases built in.

Investment Highlights

• Offered at $1,910,000 – 6.84% in-place cap rate, 6.99% on 2027 NOI
• Located in a new Opportunity Zone (OZ 2.0, effective January 1, 2027)
• 100% leased to 4 tenants with staggered terms
• Anchor tenant at this location since 2007, with a term through 2030
• Below-market average rents of $13.07/SF base, room to raise rents at renewal
• Additional upside through reconciling NNN’s and converting anchor tenant to full NNN upon renewal
• Pylon signage and storefront glass along Chinden Blvd (US-20/26)
• ±0.689 acres with flexible C-1 zoning in Garden City