Multi-Building Auto Shop
For Sale
$1,699,900
591 E Iona Rd, Idaho Falls, ID 83401
Established automotive facility with multiple service buildings, equipment, office space, and an on-site residence.
Property Size9,126 SF
Price / SF$186.27
Days on Market145
Property Features for 591 E Iona Rd
General Information
Standard status
Active
Size
9,126 SF
Additional Details
Highway Access
Yes
Service Bays
7
Taxes and HOA fees
Annual Taxes
$5,564
Building Details
Buildings
3
Listing Agency:
Eagle Point Realty, LLC
(208) 390-6071
Listed By:
Randy Batton
(208) 390-6071
Source:
Exprealty
Added: Mar 19
Changed: Aug 9
Last Checked: Aug 9 at 6:59AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Eagle Point Realty, LLC
Investment Insights
Based on property information with market context.
This auto shop property at 591 E Iona Rd in Idaho Falls includes three separate buildings supporting automotive operations and related occupancy. The primary 5,200-square-foot structure is configured as a mechanic shop with 7 bays, 3 automobile lifts, a storage mezzanine, wash room, washer and dryer, and a shop air compressor. A second 1,800-square-foot building provides office space and 2 additional bays. The property also includes a 1,526-square-foot house that is currently rented.
The site is positioned alongside the former KJ's truck stop, just off Interstate 20. All buildings are currently in use, with additional shop bays still being completed. The combination of service areas, office space, storage, and residential accommodation provides a flexible setup for an operating automotive business or multiple occupants.
The site is positioned alongside the former KJ's truck stop, just off Interstate 20. All buildings are currently in use, with additional shop bays still being completed. The combination of service areas, office space, storage, and residential accommodation provides a flexible setup for an operating automotive business or multiple occupants.
Key Highlights
- 5,200‑square‑foot main mechanic shop with 7 bays and 3 automobile lifts
- 1,800‑square‑foot secondary building with office space and 2 bays
- 1,526‑square‑foot house included on the property
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
$98,889
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
5.82%
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%
$1,977,780
$2.0M
Cap Rate 7%
$1,412,700
$1.4M
Cap Rate 9%
$1,098,767
$1.1M
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
$153.3K $16.80/SF
− Vacancy
−$21.5K −$2.35/SF
EGI
$131.9K $14.45/SF
− OpEx
−$33.0K −$3.61/SF
NOI
$98.9K $10.84/SF
Area
Bonneville County, ID
Vacancy
14.00%
Lease Rate
$16.80 /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%
$1,977,780
Cap Rate 7%
$1,412,700
Cap Rate 9%
$1,098,767
Alternative Uses
Best Use
Office B
$1.41M
$1.24M – $1.65M
NOI $98,889 @ 7.0% cap · market cap 5.82%
Second Best
Retail
$1.18M
$1.04M – $1.38M
NOI $82,806 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$2.02M
$1.76M – $2.35M
NOI $141,139 @ 7.0% cap · market cap 8.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Service bays
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
155
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Similar Off Market Nearby
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- Young Mazda Idaho Falls Service Center — 2250 N Holmes Ave Suite A, Idaho Falls, ID 83401
- Grease Monkey — 2255 N Holmes Ave, Idaho Falls, ID 83401
Frequently Asked Questions
What type of property is this?
Auto shop - Established automotive facility with multiple service buildings, equipment, office space, and an on-site residence.
Where is this auto shop located?
The property is located at 591 E Iona Rd Idaho Falls, ID.
What is the asking price?
The asking price for this property is $1,699,900.
What are key features of this property?
This property features: 5,200‑square‑foot main mechanic shop with 7 bays and 3 automobile lifts; 1,800‑square‑foot secondary building with office space and 2 bays; 1,526‑square‑foot house included on the property
