Noodles & Company NNN Property For Sale — Meridian, ID
3103 West Milano Drive, Meridian, ID 83646
An exceptional opportunity to acquire a newly constructed Noodles & Company restaurant in Meridian, Idaho. This property offers stable cash flow through a 20-year absolute triple net ground lease with 2% annual rent increases, backed by a strong corporate guaranty with over 477 locations nationwide. The asset is strategically located on a main corridor at the intersection of N Ten Mile Road & W McMillan Road, a rapidly developing area with strong surrounding retail and community anchors, including a Walmart Supercenter and various schools and schools and residential developments. The tenant commenced rent in May 2024. Investors will benefit from minimal landlord responsibilities and a long-term lease with renewal options, making this a passive and secure investment.
- Address: 3103 West Milano Drive, Meridian, ID 83646
- Asking price $1.69M
- 5.00% cap rate
- NOI $84,660
- 17.7 years remaining
- NNN lease
- Year built: 2024
- Building size: 2,454 SF
- Lot size: 0.52 acres
- Lease expiration: May 14, 2044
- Rent increases: Year 1: $83,000.00; Year 2: $84,660.00; Year 3: $86,353.20; Year 4: $88,080.26; …
- Guarantor: Corporate
Location
This Noodles & Company property is at 3103 West Milano Drive in Meridian, Idaho.
Asset type: QSR