Seven-Bay Auto
For Sale
$1,675,000
591 E Iona Road, Idaho Falls, ID 83401
Commercial Sale, Idaho Falls, ID
Property Size9,126 SF
Lot Size1.51 Acres
Price / SF$183.54
Days on Market86
Property Features for 591 E Iona Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
General Zoning: Commercial, Specific Zoning: Bonneville-C2-General Commerci
Parking features
Off Street, Parking Lot
Accessibility
Accessible Approach with Ramp
Lot features
High Traffic, Interstate Exit/ Access, Established Lawn, Many Trees, Sprinkler Manual
Directions
GPS Address
Standard status
Active
APN
PP1AUTOELS01
Size
9,126 SF
Lot size
1.51 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
1.12 A NW1/4 NW 1/4 SEC 8, T 2N, R38
Tax Annual Amount
5564
Legal Description
1.12 A NW1/4 NW 1/4 SEC 8, T 2N, R38
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Well, Public
Amenities
Storage Mezzanine
Wash Room
Building Details
Year built
1989
Building materials
Frame, Stucco
Roof type
Metal
Listing Agency:
Eagle Point Realty, LLC
(208) 356-5777
Listed By:
Randy Batton
(208) 390-6071
Added: Jul 7
Changed: Sep 13
Last Checked: Sep 30 at 9:06PM
MLS# 2184862
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.
This automotive property includes three buildings totaling 9,126 square feet on 1.51 acres. The primary 5,200-square-foot shop is configured with 7 service bays, 3 automobile lifts, a storage mezzanine, wash room, washer and dryer, and a shop air compressor. A separate 1,800-square-foot office and shop building provides 2 additional bays. The property also includes a 1,526-square-foot house that is currently rented. Some additional shop bays are still being completed, while the buildings are in active use.
Located at 591 E Iona Road in Idaho Falls, the property sits near the former KJ's truck stop and just off Interstate 20. Improvements date to 1989 and include frame and stucco construction, a metal roof, natural gas forced-air heat, public water, well water, public sewer, a parking lot, off-street parking, and an accessible approach with ramp.
Located at 591 E Iona Road in Idaho Falls, the property sits near the former KJ's truck stop and just off Interstate 20. Improvements date to 1989 and include frame and stucco construction, a metal roof, natural gas forced-air heat, public water, well water, public sewer, a parking lot, off-street parking, and an accessible approach with ramp.
Key Highlights
- 1.51‑acre automotive property with 9,126 square feet across three buildings
- Primary shop offers 5,200 square feet, 7 bays, and 3 automobile lifts
- Separate 1,800‑square‑foot office and shop building with 2 bays
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
$82,806
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
4.94%
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%
$1,656,120
$1.7M
Cap Rate 7%
$1,182,943
$1.2M
Cap Rate 9%
$920,067
$920.1K
Market Conditions
NOI Build-Up for 9,126 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
$120.5K $13.20/SF
− Vacancy
−$2.2K −$0.24/SF
EGI
$118.3K $12.96/SF
− OpEx
−$35.5K −$3.89/SF
NOI
$82.8K $9.07/SF
Area
Bonneville County, ID
Vacancy
1.80%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,656,120
Cap Rate 7%
$1,182,943
Cap Rate 9%
$920,067
Alternative Uses
Best Use
Retail
$1.18M
$1.04M – $1.38M
NOI $82,806 @ 7.0% cap · market cap 4.94%
Second Best
Flex RnD
$803.9K
$703.4K – $937.8K
NOI $56,270 @ 7.0% cap · market cap 3.36%
Theoretical Best
Office A
$2.02M
$1.76M – $2.35M
NOI $141,139 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
9
Service bays
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
70
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 83401, ID
47,114
Population
16,026
Households
2.9
Avg Household Size
31
Median Age
30%
College-Educated
90%
High-School Grad
197.3 sq mi
ZIP Area
239
Density / Sq Mi
$75,870
Median Household Income
$35,293
Median Earnings
$1,132
Median Rent
$307,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Auto shop - Multi-building automotive property with service bays, lifts, office space, and a separate residential unit on an industrial-sized parcel.
Where is this auto shop located?
The property is located at 591 E Iona Road Idaho Falls, ID.
What is the asking price?
The asking price for this property is $1,675,000.
What are key features of this property?
This property features: 1.51‑acre automotive property with 9,126 square feet across three buildings; Primary shop offers 5,200 square feet, 7 bays, and 3 automobile lifts; Separate 1,800‑square‑foot office and shop building with 2 bays
