For Sale
$1,250,000

2265 Teton PlzIdaho Falls, ID 83404

High-yield NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a single-story, 5,754 square foot Class B office building situated on a 0.585-acre lot in Idaho Falls, ID. The property, located at 2265 Teton Plaza, boasts a prime location adjacent to Grand Teton Mall and medical offices near a city hospital. Currently occupied by a single tenant under a Net Lease (NNN) agreement expiring April 30, 2027 (2.4 years remaining), offering a stable income stream with a 6.33% cap rate and a NOI of $79,117. The asking price is $1,250,000, translating to $217.24 per square foot. The building, constructed in 1993 and renovated ten years ago, features 16 offices, four handicap-accessible bathrooms, two staff reception areas, waiting rooms, a break room, and a large conference room. Ample parking is provided with 36 spaces. The property is zoned for limited commercial use and offers lease options of 1-3 years, with landlord-provided lease comparables for maximum 3% annual rent increases. The building's layout allows for potential division into two separate tenancies. This property is ideal for a 1031 exchange.

Highlights

  • $1,250,000 asking price for this Net Leased office building.
  • 5,754 square feet on a 0.585-acre lot with 36 parking spaces.
  • Located in Idaho Falls, ID, near Grand Teton Mall and medical offices.
  • Class B, single-story building built in 1993, renovated 10 years ago.
  • NNN lease with a 6.33% cap rate and $79,117 annual NOI.
  • Multi-tenant occupancy with a remaining lease term of 2.4 years (expiring 4/30/2027).

Property Details for 2265 Teton Plz

Property type
Office properties
Square Feet
5,754 SF
Class
B
Year Built/Renovated
1993/10
Buildings
1
Stories
1
Lot Size (sq. ft)
25,483 SF

Location Insight

City
Idaho Falls
County
Bonneville
State
Idaho
Latitude
43.4775771
Longitude
-111.9889847
2265 Teton Plz, Idaho Falls, Idaho

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2265 Teton Plz
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