2265 Teton PlzIdaho Falls, ID 83404

Property Details for 2265 Teton Plz

Year built

1993

Lot size

0.59 AC

Property size (Sq ft)

5,810 SF

Property type

Office properties

Property subtype

Office buildings

APN

RPA3053101005B

APU

RPA3053101005B

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,039,034

  6.5%

  $959,108

  7%

  $890,600

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,238,750

  Geo Method

  $1,238,750

• Alternative Use

  Use

  Valuation

  Residential

  $1,189,294

  Hospitality

  $1,089,387

  Educational

  $906,357

  Medical

  $937,528

  Retail

  $1,409,889

Location Insight

City

Idaho Falls

County

Bonneville

State

Idaho

Latitude

43.4776

Longitude

-111.989

CBSA code

26820

CBSA name

IDAHO FALLS, ID METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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