1902 S. 10th Ave.
Office | 6.75% CAP | 4,544 SqFt
Marketing description
Single-tenant medical office building comprising 4,544 SF located in Caldwell, Idaho. 100% occupied by Keplr Vision, one of the largest optometry management organizations in the United States, operating under a fully executed Triple Net lease.
Introducing a prime investment opportunity in the Caldwell area: a ±4,544 SF building, perfectly positioned for office or office building development. This property, zoned H-D, offers a versatile canvas for creating a tailored office space to suit diverse business needs. Boasting a strategic location in Caldwell, investors have the advantage of tapping into the area's growing commercial potential. With its generous square footage and favorable zoning, this property is poised to accommodate a wide range of office ventures, making it an ideal asset for forward-thinking investors looking to capitalize on the thriving Caldwell market.
Located in the heart of Caldwell, Idaho, this vibrant area offers a mix of history and modern amenities. The property is within close proximity to the bustling downtown area, providing easy access to local dining, shopping, and cultural attractions. Nearby landmarks include the renowned Indian Creek Plaza, which hosts year-round events and festivals, as well as the vibrant College of Idaho campus. Investors will appreciate the area's strategic location for attracting talent and business opportunities. With its blend of historical charm and contemporary conveniences, the location offers a compelling investment opportunity for land or office development.
Investment highlights
- NNN – Truly Passive Income The landlord's only role is to deposit rent. All building expenses, taxes, insurance, and maintenance fall entirely on the tenant by contract.
- National, PE-Backed Tenant With 300+ locations across 35 states, Keplr Vision is one of the most established optometry platforms in the country. This is not a mom-and-pop operator—it is an institutional tenant with the organizational depth to honor long-term lease obligations.
- Tenant Demonstrated Commitment Keplr Vision exercised their first 5-year renewal option, extending the lease through December 31, 2027 — a clear signal of their commitment to this location. One additional 5-year renewal option remains, providing a potential income runway through 2032.
- Contractual Rent Growth 2.5% annual rent escalations are built into the lease, providing inflation protection and a growing income stream throughout the hold period.
- Medical / Essential Use Tenant Optometry is an essential, non-discretionary healthcare service that cannot be delivered remotely. Patient relationships are sticky, recurring, and location-dependent — making this a fundamentally stable occupancy story.
- High-visibility location on S 10th Ave with strong traffic counts
- Easy access to Downtown Caldwell and I-84
- Surrounded by established retail and residential growth
- Flexible layout for retail, office, or service users
- On-site parking and signage opportunities
- Ideal owner-user or investment opportunity
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