275 5Th AvePocatello, ID 83201

Property Details for 275 5Th Ave

Year built

1970

Lot size

2.07 AC

Property type

Office properties

Property subtype

Other office properties

APN

RPPOC186400

APU

RPPOC186400

Description

This exceptional investment opportunity presents a portfolio of three fully leased Class B executive office buildings totaling 60,044 net rentable square feet situated on approximately 2.9 acres of land. The portfolio comprises three distinct locations: 275 S 5th Ave and 202 W. Alameda Road in Pocatello, Idaho, and 1031 & 1041 E. Main Street in Burley, Idaho. Each property enjoys high visibility and proximity to major retail corridors. The buildings, constructed in 1952 and renovated in 2021, are currently 100% occupied by Lookout Credit Union under a new 15-year lease commencing at closing, including two five-year renewal options with a 2% annual rent increase. The lease generates a substantial net operating income (NOI) of $1,200,880, resulting in an attractive 8.24% capitalization rate. The properties are zoned CG (Commercial General) by the City of Pocatello and C2 by the City of Burley. Individual lot sizes range from 14,985 to 90,169 square feet, and building sizes range from 3,137 to 53,749 square feet. This portfolio offers a rare opportunity to acquire a stable, diversified investment with a strong, established tenant and a compelling cap rate. The asking price for this exceptional investment is $14,560,000.

• CAP approach

  CAP return

  Valuation

  6%

  $19,193,124

  6.5%

  $17,716,730

  7%

  $16,451,249

• Comparable approach

  Method

  Valuation

  Relative Method

  $18,739,470

  Geo Method

  $18,739,470

• Alternative Use

  Use

  Valuation

  Residential

  $21,968,744

  Hospitality

  $20,123,252

  Educational

  $16,742,309

  Medical

  $17,318,102

  Retail

  $26,043,592

Location Insight

City

Pocatello

County

Bannock

State

Idaho

Latitude

42.8651

Longitude

-112.443

CBSA code

38540

CBSA name

POCATELLO, ID METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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