Investment Overview

Marcus & Millichap has been selected to exclusively market for sale the Columbia Bank Building in Twin Falls, Idaho. The property consists of two separate tax lots, one dedicated to parking and the other housing a three-story, 19,856-square foot, mixed-use structure tenanted by Columbia Bank. The tenant operates under a Master Lease of the entire premises, with their retail-banking business on the ground floor and the upper floors sublet. The lease is triple-net, with landlord responsibilities limited to roof and structure. Rental increases are built into the lease on a biennial basis with the next bumps coming in January of 2024 and 2026, respectively. Rent bumps are uncapped and calculated via Consumer Price Index increases, providing ample rental upside in the near term. The Columbia Bank Building, located at the intersection of Main Avenue and Shoshone Street, is ideally located at the absolute heart of downtown Twin Falls. This is one of the tallest buildings on Main Avenue, and benefits from its corner prominence and high visibility on the downtown’s primary thoroughfare. The location has been further enhanced through recent municipal upgrades to Main Avenue, with the city recently completing a revitalization project improving parking, landscaping, and accessibility.