215 Main St Ririe, ID 83443
- Investment properties
- 0.26 lot acres
Current Use by Public Records
- Investment properties
Property Details for 215 Main St
- Year built
- 1935
- Lot size
- 0.26 lot acres
- Property type
- Investment properties
Description
This exceptional commercial property at 215 Main Street, Ririe, Idaho, presents a lucrative investment opportunity with a projected 10% cap rate. The 0.26-acre site houses the Ririe Pavilion, a thriving multi-tenant building currently occupied by Hometown Physical Therapy, South Fork Restaurant, Ririe Salon, and Fit For All Gym. Adding to the income potential are three residential apartments, generating consistent rental income. Significant upside potential exists with two large, currently unrented bays at the rear of the building, ideally suited for a mechanic shop or similar business. The property's versatility is further enhanced by the inclusion of two vacant lots (Lots 29 and 30 of Block 4, Old Ririe Townsite), offering future development or expansion possibilities. The existing tenants provide a stable income stream, contributing to the property's strong financial performance and attractive return on investment. This is a rare opportunity to acquire a well-established, multi-use commercial property in a growing Idaho community, offering both immediate income and long-term growth potential. The asking price is $650,000.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Ririe
- County
- Jefferson County
- State
- Idaho
- Longitude
- -111.774
- Latitude
- 43.6286
