For Sale
$618,500

348 Garfield StIdaho Falls, ID 83401

Prime Office/Flex Space, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 3,195 square foot office and flex space property located at 348 Garfield Street in Idaho Falls, Idaho, 83401. The property, built in 1999 and renovated in 2014 ($130,000 in improvements), boasts a 6.19% cap rate and a strong net operating income of $38,340. The asking price is $618,500, translating to $211.58 per square foot. The property features two buildings: a 945 square foot front building and a 2,250 square foot rear building, both currently fully occupied under a triple net (NNN) lease with a regional service provider since 1986. This long-term tenant operates daily business from the location and has offices throughout the Pacific Northwest, ensuring stable income. The lease term is five years. The property's strategic location offers easy access to downtown Idaho Falls and Highway 20, surrounded by a thriving mix of residential, retail, and professional office spaces. This presents a rare chance to acquire a well-maintained, income-producing commercial property in a desirable Idaho Falls location. The property is classified as Office, Industrial, with subtypes of Executive Office and Flex.

Highlights

  • Office/flex space in Idaho Falls, ID.
  • Fully occupied by a long-term regional tenant since 1986.
  • Regional service provider tenant with Pacific Northwest offices.
  • Stable net operating income.
  • Desirable location near downtown Idaho Falls and Highway 20.
  • Convenient access to residential, retail, and professional areas.

Property Details for 348 Garfield St

Property type
Office properties, Industrial properties
Square Feet
3,195 SF
Year Built/Renovated
1999/2014

Location Insight

City
Idaho Falls
County
Bonneville
State
Idaho
Latitude
43.5002886
Longitude
-112.0270756
348 Garfield St, Idaho Falls, Idaho

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348 Garfield St
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