585 2NdRexburg, ID 83440

Property Details for 585 2Nd

Lot size

1.14 AC

Property size (Sq ft)

13,440 SF

Property type

Commercial real estate

APN

RPR4ETA0010080

APU

RPR4ETA0010080

Description

This exceptional investment opportunity presents a fee-simple ownership of a Denny's restaurant in Rexburg, Idaho. The 4,410 square foot building, constructed in 2023, sits on a 1.14-acre lot with 75 parking spaces and boasts a prime location at a signalized intersection on a major retail thoroughfare, N 2nd E. The property benefits from excellent visibility and strong tenant synergy, situated near other national retailers including a large shopping center with Albertson's and Harbor Freight, and within a 1.5-mile radius of a Walmart Supercenter. The current lease, an absolute NNN with zero landlord responsibilities, runs for 20 years, commencing May 1, 2023, and includes two 10-year renewal options. The lease features 10% rental increases every 10 years, ensuring consistent NOI growth. The property's current NOI is $120,000, yielding a 5.75% cap rate at an asking price of $2,087,000. The 5-mile trade area boasts a population exceeding 50,700 with an average household income of $76,283, providing a strong demographic base. The property is zoned CBC (Community Business Center) and has an APN of RPR4ETA0010080. This is a management-free investment with significant long-term growth potential. The current occupancy is 100%.

• Alternative Use

  Use

  Valuation

  Residential

  $2,751,138

  Hospitality

  $2,520,028

  Educational

  $2,096,633

  Medical

  $2,168,740

  Retail

  $3,261,430

Location Insight

City

Rexburg

County

Madison

State

Idaho

Latitude

43.8381

Longitude

-111.779

CBSA code

39940

CBSA name

REXBURG, ID MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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