Listed by CP Partners
$4,751,000
Buckle and Bath & Body Works
Details
Property Type Retail
Sub Type Retail pad
Square Footage 8,577
Cap Rate 6.4%
NOI $304,059
Occupancy 100%
Tenancy Multi
Brand/Tenant Buckle, Bath & Body Works
Lease Type NNN
Lease Term 10
Rent Bumps Yes
Price per SqFt $554
Year Built 2026
Acreage 0.970
Investment Type Net Lease
Ground Lease No
Target Anchored Power Center Pad
Marketing description
A new construction pad to ground up Target anchored power center. The old mall was demolished to make way for a new Target, and both Buckle and Bath & Body Works relocated after 25+ year operating histories at the mall to this new construction pad, at relatively low pad rents. The center is now over 95% occupied and ranked in the top 12% of shopping centers nationwide in terms of annual visitors – 3.1M (per Placer.ai).
Investment highlights
- Both tenants signed new 10-year lease extensions after relocating from the old mall building, Pine Ridge Mall
- New construction Target and strip buildings
- Corporate signed leases for each tenant
- Replaceable rents of $33/SF and $39/SF
- Pine Ridge Mall - 660,000+ SF of leasable area currently at 95% occupancy
- Ranked in the top 12% of shopping centers nationwide in terms of annual visitors – 3.1M (per Placer.ai)
- Other major national tenants driving traffic to the center include Hobby Lobby, C-A-L Ranch Stores, Planet Fitness, and AMC Theatres
- Explosive growth submarket – estimated population increases of 14-16% within a 3, 5, and 7-mile radius over the next 5 years
- Seamless access to major highways like I-86 and US-91 and close in proximity to the Pocatello Regional Airport
- Other national tenant driving traffic to the direct trade area include Walmart, Lowe’s, Dick’s Sporting Goods, Home Depot, Old Navy, Ross, and TJ Maxx
Listing Contacts
Listed by CP Partners
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$304,059.00
$25,338.25/mo
Valuation Metrics
0
DSCR
6.4%
Cap Rate
6.4%
ROI
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