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OFFERED BY:Jim Koon, Managing Broker(208) 665-6475 or (208) 640-9470
OFFERING MEMORANDUM
750 CANFIELD AVENUE
COEURD’ALENE, ID 83815
750 Canfield AvenueCoeur d’Alene, ID 83815
NNN Leased7.8% CAP100%
LEASED $4,200,000
Lake Coeur d’Alene
PRICE REDUCED
OFFERED BY:Jim Koon, Managing Broker(208) 665-6475 or (208) 640-9470
NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS,
OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR
PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.
Tenant ProfileSunshine Minting, Inc.
750 Canfield AvenueCoeur d’Alene, Idaho
Company Profile Founded in 1979 and with centuries of cumulative experience, SMI is a full service minting facility that is well known to help redefine global standards and respected in the industry as a leader. Since its inception, SMI has continued to grow and thrive in the minting industry with a proven track record for quality and innovation that have helped to re-define the global standard.
In-house capabilities include:
• Dedicated Account Representative • Live customer service• Art & Design development• Tool & Die shop• Assay laboratory & Quality Assurance• Melting & continuous casting• Extruding• Precious metal alloying (some limitations apply)• Rolling• Annealing• Blanking & Coining• Colorizing• Gold plating• Edge Lettering and serial numbering
LocationsCoeur d’Alene, Idaho - Corporate Headquarters and the SMI flagship operation.Las Vegas, Nevada – New location commissioned 2013China - Putuo District, Shanghai 普陀區 commissioned 2011
OFFERED BY:Jim Koon, Managing Broker(208) 665-6475 or (208) 640-9470
NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS,
OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR
PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.
Building Floor Pan750 Canfield AvenueCoeur d’Alene, Idaho
OFFERED BY:Jim Koon, Managing Broker(208) 665-6475 or (208) 640-9470
The Offering
NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS,
OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR
PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.
OFFERING OVERVIEW PROPERTY OVERVIEW
Summary Summary
Offering Price: $4,200,000.00 Property Type: Industrial / Flex
Price Per Square Foot: $126.38 Building Size: 36,000 square feet
Capitalization Rate: 7.8% Parcel Size: 5 Acres
Net Operating Income: $325,871 Construction Date: May, 2000
Construction Type: Tilt Up Concrete
Power: 3000 Amps, 480, 3 Phase, 4 wire
Parcel #: C82720010020
Zoning: C-17
Loading Doors: One 12 X 14 Ground Level Door
One Dock High Door
Yard Space: Security Fenced Yard Space
Highlights* 100% occupied
* Excellent location just off Hwy 95 in Coeur d'Alene
* Prominent street signage for great visibility
* Ample parking for tenant employees and clientele
* New roof installed 2016
*High security building
Narrative
750 Canfield Avenue was built for Sunshine Minting Company, a full service
minting facility. Primarily designed for a manufacturing operation. The
building contains executive offices, cafeteria, vault and lab. A new roof was
installed in 2016. The Concrete Tilt up building is situated on a 5 acre park
like setting. In central Coeur d’Alene location near high profile corporations
and federal government tenants.
OFFERED BY:Jim Koon, Managing Broker(208) 665-6475 or (208) 640-9470
Financial Summary
NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS,
OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR
PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.
Investment Summary Cash Flow and Return Projection
Offering Price: $4,200,000 Actual 1st Year Operating Income: $352,051
Capitalization Rate: 7.8% less Debt Service (4.75% APR - 25 Years) ($215,504)
less Management/Reserve ($8,578)
Actual 1st Year Operating Income: $352,051 Net Cash Flow $127,969
Less 5% Vacancy ($17,602) Cash on Cash Return (Year 1) 10.5%
Management/Reserve ($8,578)
1st Year Net Operating Income $325,871 Principle Down Payment (Year 1) $67,332
Total Return (Year 1) $195,300
Overall Return (Year 1) 18.6%
New Proposed Debt Leasing StatusTotal Acquisition Price $4,200,000 Currently Occupied: 100%
less Equity Required $1,050,000 Current Tenant: Sunshine Minting, Inc.
New Proposed Debt (75% LTV) $3,150,000 Lease Type: NNN
Interest Rate 4.75% Lease Escalations: Annual CPI
Loan Term Amortized 25 Years Renewal Options: No
Maturity Date 10 Years Lease Expires: May 31, 2021
Annual 1st Year Principle & Interest $215,504
OFFERED BY:Jim Koon, Managing Broker(208) 665-6475 or (208) 640-9470
NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS,
OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR
PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.
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Highway 95
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Subject Property
Federal
Courthouse
Hecla Mining
Idaho State
Police
Coeur d’Alene, IdahoCoeur d’Alene has clean air, little pollution and no humidity. The summers here are magnificent. If you're a winter sports enthusiast you can choose from three ski areas close enough to get in a run before or after work. We've got a downtown chock-full of unique restaurants, shops, and shop owners who know their customers by name.
Our stable economy, low crime rate, and the 6th lowest cost of living in the U.S. attract many looking for a new place to call home, or relocate their business to a location that offers them and their employees an amazing lifestyle in the heart of paradise. Coeur d'Alene attracts visitors from around the world. Once here, many opt to make Coeur d’Alene their permanent home or invest in a vacation home.
The tourism industry employs over 10,000 people in northern Idaho, accounting for 6.8 percent of the region’s payroll in 2010. Tourism is projected to add 1,560 more jobs in northern Idaho by 2020, with the larges increase in amusements, gambling and increase recreation. Arts, entertainment and recreation, coupled with accommodations and food services should add 10,000 jobs statewide during the same period.
Kootenai County is served by Frontier’s advanced digital network with cutting-edge switching technology and fiber deployment which has attracted customer service call centers to the area, such as U.S. Bank, Alliance Data Systems and Center Partners. Coeur d'Alene is the perfect mesh of small-town vibe and big-city atmosphere. There's lots to do to keep you entertained whatever the season. We've got the great outdoors and the second largest lake west of the Rockies. Within 20 minutes or less you can be in the national forest enjoying hiking, biking, fishing, hunting, canoeing, kayaking, bird-watching, skiing, snowshoeing or snowmobiling.
Demographics 1 Mile 3 Miles 5 Miles
POPULATION
2015 Population 4,208 56,829 77,965
HOUSEHOLDS
2015 Households 1,672 22,447 31,256
2015 Median HH Income $46,725 $46,493 $46,950
2015 Per Capita Income $22,209 $23,720 $24,644
2015 Average HH Income $54,447 $59,019 $60,415
DEMOGRAPHICSNovember 2014 November 2013
Civilian Labor Force 73,286 70,900
Total Employment 70,117 66,100
Unemployed 3,170 66,100
Unemployment Rate 6.4% 6.5%
Idaho Unemployment 5.6% 5.7%
U.S. Unemployment 6.7% 6.7%
Major Employers Kootenai Health 1,823Coeur d’Alene Tribal Casino 800Coeur d’Alene School District 1,300 Hagadone Corp. 1,850 North Idaho College 1,000 State of Idaho 940 Kootenai County Government 743
Labor Force
OFFERED BY:Jim Koon, Managing Broker(208) 665-6475 or (208) 640-9470
NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS,
OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR
PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.
OFFERED BY:Jim Koon, Managing Broker(208) 665-6475 or (208) 640-9470
NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS,
OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR
PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.
Subject Property
OFFERED BY:Jim Koon, Managing Broker(208) 665-6475 or (208) 640-9470
NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS,
OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR
PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.
Subject Property
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