348 Garfield StIdaho Falls, ID 83401

Property Details for 348 Garfield St

Year built

1959

Lot size

0.21 AC

Property size (Sq ft)

2,250 SF

Property type

Office properties

Property subtype

Office buildings

APN

RPA0420020009A

APU

RPA0420020009A

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $402,380

  6.5%

  $371,427

  7%

  $344,897

• Comparable approach

  Method

  Valuation

  Relative Method

  $479,722

  Geo Method

  $479,722

• Alternative Use

  Use

  Valuation

  Residential

  $460,570

  Hospitality

  $421,880

  Educational

  $350,999

  Medical

  $363,070

  Retail

  $545,998

Location Insight

City

Idaho Falls

County

Bonneville

State

Idaho

Latitude

43.5002

Longitude

-112.027

CBSA code

26820

CBSA name

IDAHO FALLS, ID METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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