Restaurant with Active Liquor
For Sale
$1,750,000
298 D Street, Idaho Falls, ID 83402
COMMERCIAL - Idaho Falls, ID
Property Size9,400 SF
Lot Size0.45 Acres
Price / SF$186.17
Days on Market196
Property Features for 298 D Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
General Zoning: If Commercial, Specific Zoning: Idaho Falls-Gc1-General Commer
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Basement, Bathroom 2
Parking features
Parking Lot
Security features
Security System
Basement
Unfinished
Accessibility
Accessible Approach with Ramp
Subdivision
Railroad Addition-Bon
Lot features
High Traffic, Corner Lot
Directions
Use GPS for 298 D St. Idaho Falls, ID 83402
Standard status
Active
APN
198000900A
Size
9,400 SF
Lot size
0.45 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOT S 7-9, BLOCK 9, RAILROAD NW1/4, SEC 19, T 2N, R 38
Tax Annual Amount
6191
Legal Description
LOT S 7-9, BLOCK 9, RAILROAD NW1/4, SEC 19, T 2N, R 38
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1948
Floors in Building
2
Building materials
Brick
Roof type
Tar/Gravel
Listing Agency:
Mountain Life Realty, dba MLR
(208) 982-0309
Listed By:
Kristen Andelin · License #56532
(208) 982-0309
Added: Feb 6
Changed: Aug 4
Last Checked: Aug 21 at 6:06PM
MLS# 2180544
Copyright © 2026 Snake River Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Restaurant with an active liquor license and a fully equipped kitchen, designed for immediate operation with ample dining space. The property also includes additional square footage for expansion and an upstairs apartment that is ready to be renovated for tenant income or on-site living.
Built in 1948 with brick construction, the building is heated with natural gas and cooled with central air. Roof is tar/gravel, and the property is served by public water and public sewer. On-site parking is provided in a parking lot, with an accessible approach via ramp.
Located at 298 D Street in Idaho Falls (Bonneville County), this downtown restaurant opportunity includes the core restaurant improvements needed to operate, with room to add a production component such as a brewery or distillery as part of the expansion concept referenced in the remarks.
Built in 1948 with brick construction, the building is heated with natural gas and cooled with central air. Roof is tar/gravel, and the property is served by public water and public sewer. On-site parking is provided in a parking lot, with an accessible approach via ramp.
Located at 298 D Street in Idaho Falls (Bonneville County), this downtown restaurant opportunity includes the core restaurant improvements needed to operate, with room to add a production component such as a brewery or distillery as part of the expansion concept referenced in the remarks.
Key Highlights
- Active liquor license included
- Fully equipped kitchen and ample dining space
- 9400 SF restaurant building plus additional space for expansion
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$111,355
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.36%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,227,100
$2.2M
Cap Rate 7%
$1,590,786
$1.6M
Cap Rate 9%
$1,237,278
$1.2M
Market Conditions
NOI Build-Up for 9,400 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$152.3K $16.20/SF
− Vacancy
−$3.8K −$0.41/SF
EGI
$148.5K $15.79/SF
− OpEx
−$37.1K −$3.95/SF
NOI
$111.4K $11.85/SF
Area
Bonneville County, ID
Vacancy
2.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,227,100
Cap Rate 7%
$1,590,786
Cap Rate 9%
$1,237,278
Alternative Uses
Best Use
Specialty Retail
$1.59M
$1.39M – $1.86M
NOI $111,355 @ 7.0% cap · market cap 6.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.08M
$1.82M – $2.42M
NOI $145,377 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
1,589
Businesses Nearby
61k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 53%
Shops & Services 27%
Hotels & Casinos 20%
Applebee's
Dining
15,633 visits/mo
0.5 miles
Chili's Grill & Bar
Dining
12,485 visits/mo
0.4 miles
KeyBank
Shops & Services
9,101 visits/mo
0.4 miles
Residence Inn Idaho Falls
Hotels & Casinos
5,499 visits/mo
0.5 miles
Hilton Garden Inn Idaho Falls
Hotels & Casinos
5,063 visits/mo
0.5 miles
Demographics for 83402, ID
28,452
Population
11,983
Households
2.4
Avg Household Size
34
Median Age
31%
College-Educated
92%
High-School Grad
171.0 sq mi
ZIP Area
166
Density / Sq Mi
$72,064
Median Household Income
$35,593
Median Earnings
$904
Median Rent
$301,400
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant with an active liquor license, fully equipped kitchen, central air, and accessible ramp entry for immediate operation.
Where is this conventional restaurant located?
The property is located at 298 D Street Idaho Falls, ID.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Active liquor license included; Fully equipped kitchen and ample dining space; 9400 SF restaurant building plus additional space for expansion
