prairie 41 crossing property subject - cdabroker.com€¦ · prairie crossing nec highway 41 &...
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NEC Highway 41 & Prairie AvenuePost Falls, Idaho 83854
For more information:
Jim Koon, Managing Broker(208) 665-6475 or (208) 640-9470
[email protected] WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE
INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS,
CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR
WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR
PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE
PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.t
Black Commercial, Inc
105 N. 1st Street, Suite 300
Coeur d’Alene, Idaho 83814
www.cdabroker.com
Overview:Prairie Crossing is located at the Northeast quadrant of State Highway 41 and Prairie Avenue and is positioned to serve an overall
Greater Prairie Trade Area (GPTA) population of over 80,000 with growth projected to continue at over 4% per year. In the following
Population Growth Analysis section, Kootenai Metropolitan Planning Organization (KMPO) estimates that population in the State
Highway 41 corridor alone will increase to 43,500 in 2020 and more than double that number by 2035.
Prairie Crossing is the single most important site available today in North Idaho and is strategically positioned to be the dominant
destination Commercial Retail Center/ Mixed Use Development in the GPTA. There are a few high quality anchored shopping
center/mixed use projects operating in the greater Coeur d’Alene market, but none directly serving the growth areas of the GPTA, which
includes the cities of Post Falls, Hauser, Rathdrum, and Spirit Lake, plus Northwest Coeur d’Alene and West Hayden.
The intersection of State Highway 41 and Prairie Avenue is the undisputed transportation corridor center of the GPTA and planning and
Tenant acquisition for a major anchored Community Shopping Center project can begin this year. The approximate 49 acre site is zoned
CCS permitting a broad spectrum of Retail and Mixed Use development, including high density residential. All utilities have recently been
extended by the City of Post Falls and are available at the site. All dedication for roadways and signalization upgrades have been
accomplished and the new Land Owner will have no further cost for offsite improvements.
This outstanding property is offered at a Developer Price of $6,298,654 ($2.95 per square foot)
Steve Ridenour (208) 660-5010
49 Acres
Institutional Grade
Retail/Mixed Use
Development Land
Post Falls, ID
Subject
Property
Prairie Crossing
Prairie Avenue
Hig
hw
ay 4
1 Prairie
Crossing
Prairie Crossing
NEC Highway 41 & Prairie AvenuePost Falls, Idaho 83854
Jim Koon, Managing Broker(208) 665-6475 or (208) 640-9470
NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE
INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS,
CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR
WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR
PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE
PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.t
Black Commercial, Inc
105 N. 1st Street, Suite 300
Coeur d’Alene, Idaho 83814
www.cdabroker.com
Property Features:
• Epicenter of the fastest growth area in North Idaho
• Population currently over 80,000 and projected to grow by 4% per year.
• State Highway 41 to expand to 140’ of ROW with 2 northbound and 2 southbound lanes divided by
landscaped median
• Other than Interstate 90, Prairie Avenue is the largest east/west corridor linking North Idaho to the
Spokane Valley
• Trade Area includes the Cities of Post Falls, Hauser, Rathdrum, and Spirit Lake, plus Northwest
Coeur d’Alene and West Hayden.
Steve Ridenour (208) 660-5010
49 Acres
Institutional Grade
Retail/Mixed Use
Development Land
Post Falls, ID
Greater Prairie
Trade Area
SH
41
Prairie Crossing
NEC Highway 41 & Prairie AvenuePost Falls, Idaho 83854
Jim Koon, Managing Broker(208) 665-6475 or (208) 640-9470
NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE
INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS,
CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR
WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR
PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE
PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.t
Black Commercial, Inc
105 N. 1st Street, Suite 300
Coeur d’Alene, Idaho 83814
www.cdabroker.com
Steve Ridenour (208) 660-5010
49 Acres
Institutional Grade
Retail/Mixed Use
Development Land
Post Falls, ID
Subject Property
Prairie Avenue
Hig
hw
ay 4
1
Interstate 90
Spokane River
Rathdrum and Spirit Lake
POPULATION
Jim Koon, Managing Broker(208) 665-6475 or (208) 640-9470
NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE
INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS,
CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR
WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR
PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE
PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.t
Black Commercial, Inc
105 N. 1st Street, Suite 300
Coeur d’Alene, Idaho 83814
www.cdabroker.com
Population Growth Analysis:Historic Reference & Future Projections provided by Kootenai Metropolitan Planning Organization (KMPO)
Population growth within Kootenai County has continued to change over the last ten years and can be referenced through the USCensus Bureau decennial data. The overall growth of all the urban area cities together grew a total of 18.61% from 2000 to 2010 with each jurisdiction growing at different rates. During the past ten years there has been an average annual growth rate of 4.801% in the City of Post Falls, 3.549% in the City of Rathdrum and 2.40% within the County itself. The update reflects the average annual growth rate based on the US Census Bureau decennial data over the last ten years (2000 to 2010). Within Kootenai County, the total percent change in jurisdictional growth from the year 2000 to 2010 is shown in Figure 6. Population data obtained through the US Census Bureau, decennially (every ten years), in between years the MPO estimates the population growth based on the annual percentage of growth that has occurred and is projected into the future, compounded annually, until the next decennial census is completed. Anticipated population growth for the Kootenai County and the cities within the SH 41corridor are shown in Table 1.
Steve Ridenour (208) 660-5010
49 Acres
Institutional Grade
Retail/Mixed Use
Development Land
Post Falls, ID
Prairie Crossing
NEC Highway 41 & Prairie AvenuePost Falls, Idaho 83854
Jim Koon, Managing Broker(208) 665-6475 or (208) 640-9470
NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE
INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS,
CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR
WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR
PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE
PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.t
Black Commercial, Inc
105 N. 1st Street, Suite 300
Coeur d’Alene, Idaho 83814
www.cdabroker.com
Steve Ridenour (208) 660-5010
HIGHWAY
IMPROVEMENTS
&
TRAFFIC
Jim Koon, Managing Broker(208) 665-6475 or (208) 640-9470
NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE
INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS,
CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR
WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR
PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE
PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.t
Black Commercial, Inc
105 N. 1st Street, Suite 300
Coeur d’Alene, Idaho 83814
www.cdabroker.com
Description of State Highway 41 Improvements:Provided by Kootenai Metropolitan Planning Organization (KMPO)
Planned Roadway Projects State Highway 41 is currently a two to four lane roadway with generally 100 foot right-of-way (ROW) between Seltice Way and Poleline Avenue. North of Poleline Avenue, the highway reduces to two lanes with varying ROW to the City of Rathdrum. Currently there are left turn lanes provided at; Mullan Avenue, 16th Avenue, Poleline Avenue, Market Loop/Early Dawn, Prairie Avenue, Hayden Avenue, Wyoming Avenue, Nagel Lane, Boekel Road, Montana Street, McCartney/Wright Streets, Vernon Street, Vera Street, Main Street and the junction of SH41/53. The plan proposes to improve State Highway 41 to a divided highway with four lanes from Seltice Way to Boekel Road, with a 100 to 140 foot right-of-way. The newly constructed section from Mullan to Prairie Avenue would have two - 12 foot wide lanes, two - 14 foot lanes, two foot curb and gutter, 11 foot swales on both sides of the roadway, a 12 foot bicycle/pedestrian pathway on the right side of the SH 41 roadway, with a 16 foot median restriction that will only allow left turns at principal roadways and the future selected ½ mile signal access locations (16th, Bluegrass/Hope). This section is scheduled for construction in 2019. The newly constructed divided roadway section from Prairie Avenue to Boekel Road would have four - 12 foot wide lanes, an 11 foot swale on both sides of the roadway, a 12 foot bicycle/pedestrian pathway on the right side of the SH 41 roadway, with a 16 foot median restriction that will only allow left turns at principal roadways and the future selected ½ mile signal access locations (Harvest Avenue and Ok Corral). The section from Prairie Avenue. to Boekel Road will be a divided highway. This section is divided into two sections for construction; Prairie Avenue to Lancaster Avenue and the section; Lancaster Avenue to Boekel Road. Both sections are scheduled for construction in 2021. Future Improvements to SH 41, from Boekel Road to SH 53 is planned to have three - 14 foot wide lanes (with a center two way left turn lane) exclusive left turn lanes at the intersections, 11 foot swales on both sides of the roadway, two foot curb and gutter, and a 12 foot bicycle/pedestrian pathway on both sides of the SH 41 roadway. No turn restrictions are planned at this time for this segment of the roadway. This section is not included in the current upcoming construction scope and will be addressed by ITD, at a later date, sometime after 2021.
Steve Ridenour (208) 660-5010
49 Acres
Institutional Grade
Retail/Mixed Use
Development Land
Post Falls, ID
Model YearTotal Vehicle Miles Traveled
(Throughout Corridor)Vehicle Hours Traveled Tour (Current total travel time in loaded network)
PM Pk Hr Modeled Volume (Along corridor bothways)
2010 BASE 8,158.06 miles 192 hr 35 min 22 s 54,885
2014 BUILD 8,699.46 miles 208 hr 32 min 12 s 57,126
2020 BUILD 10,300.30 miles 264 hr 09 min 12 s 66,718
2035 NO-BUILD 11,932.45 miles 401 hr 41 min 03 s 81,848
2035 BUILD 14,795.58 miles 342 hr 11 min 40 s 84,465
Summary of Vehicle Miles of Travel and Evening
Peak Hour Volumes Along State Highway 41
Prairie Crossing
NEC Highway 41 & Prairie AvenuePost Falls, Idaho 83854
PLANNING
&
ENGINEERING
For more information:
Jim Koon, Managing Broker(208) 665-6475 or (208) 640-9470
NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE
INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS,
CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR
WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR
PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE
PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.t
Black Commercial, Inc
105 N. 1st Street, Suite 300
Coeur d’Alene, Idaho 83814
www.cdabroker.com
Steve Ridenour (208) 660-5010
49 Acres
Institutional Grade
Retail/Mixed Use
Development Land
Post Falls, ID
Prairie Crossing
NEC Highway 41 & Prairie AvenuePost Falls, Idaho 83854
49.0162 Ac
Jim Koon, Managing Broker(208) 665-6475 or (208) 640-9470
NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE
INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS,
CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR
WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR
PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE
PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.t
Black Commercial, Inc
105 N. 1st Street, Suite 300
Coeur d’Alene, Idaho 83814
www.cdabroker.com
Steve Ridenour (208) 660-5010
Jim Koon, Managing Broker(208) 665-6475 or (208) 640-9470
NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE
INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS,
CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR
WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR
PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE
PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.t
Black Commercial, Inc
105 N. 1st Street, Suite 300
Coeur d’Alene, Idaho 83814
www.cdabroker.com
Steve Ridenour (208) 660-5010
49.0162 Ac
Subject Property