805 Broadway StIdaho Falls, ID 83402

Property Details for 805 Broadway St

Year built

2013

Lot size

0.80 AC

Property size (Sq ft)

3,147 SF

Property type

Drive through restaurants

APN

RPA5670001001O

APU

RPA5670001001O

Description

This exceptional investment opportunity presents a 3,200 square foot Carl's Jr./Hardee's franchise located at 805 W Broadway St, Idaho Falls, ID 83402. The property, built in 2013, sits on a 0.8-acre lot with 38 parking spaces and benefits from a hard corner location with high visibility. The single-tenant building is classified as Class B and features a drive-thru. The current lease, with Snow Star, LP (a franchisee with over 69 locations), is a Net Lease (NNN) agreement with a remaining term of 6.8 years, commencing March 21, 2021, and expiring September 25, 2031. The lease includes four five-year options, extending the potential lease term to September 2033. Rent increases are structured at 10% every five years. The property boasts a 5.00% cap rate, a $144,000 annual Net Operating Income (NOI), and an asking price of $2,880,000 ($900 per square foot). The property is situated in a high-traffic area with over 23,500 vehicles per day on Broadway Street and over 15,000 on Utah Avenue. It's less than two miles from the Idaho Falls Regional Airport and surrounded by numerous national retailers including Walmart, Panda Express, Wendy's, and Olive Garden. The property is offered debt-free, allowing buyers to maximize their yield with their own financing. The permitted zoning is C.

• CAP approach

  CAP return

  Valuation

  6%

  $652,216

  6.5%

  $602,045

  7%

  $559,042

• Comparable approach

  Method

  Valuation

  Relative Method

  $697,811

  Geo Method

  $697,811

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,183,240

  Mixed-Use / Specialty

  $596,183

  Hospitality / Lodging

  $432,562

  Office

  $588,770

  Institutional / Educational

  $618,462

  Residential Income

  $723,600

  Multifamily

  $888,449

  Automotive / Energy

  $530,110

  Parking / Income-Based Land

  $186,606

  Restaurant / Food Service

  $302,148

  Healthcare / Senior Housing

  $615,185

Location Insight

City

Idaho Falls

County

Bonneville

State

Idaho

Latitude

43.4942

Longitude

-112.049

CBSA code

26820

CBSA name

IDAHO FALLS, ID METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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