357 Constitution WayIdaho Falls, ID 83402

Property Details for 357 Constitution Way

Year built

1904

Lot size

0.19 AC

Property size (Sq ft)

25,200 SF

Property type

Office buildings

APN

RPA1080018011A

APU

RPA1080018011A

Description

This exceptional Class A office and retail property, Constitution Plaza, located at 357 Constitution Way in Idaho Falls, ID 83402, offers 16,648 square feet of versatile space. The building, an award-winning example of historic preservation and urban redevelopment (City of Idaho Falls, 2014), boasts abundant parking, including both surfaced and secure subterranean lots. The property sits on a 0.45-acre lot in the heart of the growing downtown submarket, ensuring high visibility. Completely remodeled in 2013, the interior features high ceilings, exposed brick, a large break area, and a professional kitchen. The space is easily divisible, with a minimum leasable area of 8,324 square feet. The property is zoned for downtown use and is currently vacant, offering a unique opportunity for lease or sale. Prepared redevelopment concepts exist for an adjacent lot, presenting significant expansion potential. This NNN lease property is perfect for a variety of businesses seeking a prominent location in a thriving downtown area. The property's combination of historic charm and modern amenities makes it an ideal investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $5,107,540

  6.5%

  $4,714,650

  7%

  $4,377,890

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,372,890

  Geo Method

  $5,372,890

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $9,474,970

  Retail / Commercial

  $4,820,950

  Mixed-Use / Specialty

  $4,774,010

  Hospitality / Lodging

  $3,463,790

  Institutional / Educational

  $4,952,410

  Residential Income

  $5,794,320

  Multifamily

  $7,114,370

  Automotive / Energy

  $4,244,920

  Parking / Income-Based Land

  $1,494,270

  Restaurant / Food Service

  $2,419,490

  Healthcare / Senior Housing

  $4,926,170

Location Insight

City

Idaho Falls

County

Bonneville

State

Idaho

Latitude

43.4939

Longitude

-112.039

CBSA code

26820

CBSA name

IDAHO FALLS, ID METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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