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Bank

Columbia Bank Building

113 Main Ave W, Twin Falls, ID 83301

Listing Price: $4,340,000

Cap Rate
6.25%
Tenant Name
Columbia Bank | Nasdaq: COLB
Years Remaining On Lease
4.7
Guarantor
Corporate Guarantee
Rentable SF
19,856
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$13.67

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.

Investment Highlights

  • NNN Lease | Minimal Landlord Responsibilities
  • Rent Bumps Every Other Year | CPI Adjustments
  • "Main & Main" Corner Location in Downtown Twin Falls
  • Corporate-Backed Lease – Columbia Bank |Nasdaq: COLB

Exclusively Listed By

Broker of Record

  • Adam Lewis

    Vice President/Regional Manager

    (303) 328-2000

    License(s) ID: DB54599

    Idaho

Bank

Columbia Bank Building

Listing Price: $4,340,000

Cap Rate
6.25%
Tenant Name
Columbia Bank | Nasdaq: COLB
Years Remaining On Lease
4.7
Guarantor
Corporate Guarantee
Rentable SF
19,856
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$13.67

Investment Highlights

  • NNN Lease | Minimal Landlord Responsibilities
  • Rent Bumps Every Other Year | CPI Adjustments
  • "Main & Main" Corner Location in Downtown Twin Falls
  • Corporate-Backed Lease – Columbia Bank |Nasdaq: COLB

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.

Exclusively Listed By

Broker of Record

  • Adam Lewis

    Vice President/Regional Manager

    (303) 328-2000

    License(s): ID: DB54599

    Idaho

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