119 Main StEmmett, ID 83617

Property Details for 119 Main St

Year built

1915

Lot size

0.16 AC

Property size (Sq ft)

11,952 SF

Property type

Retail properties

Property subtype

Retail space

APN

RPE3210003001CA

APU

RPE3210003001CA

Description

This exceptional commercial real estate opportunity presents two buildings totaling 9,164 square feet at 119 & 123 W Main St, Emmett, ID 83617. The property, built in 1914 and extensively renovated in 2020, boasts a fee simple ownership and a desirable commercial zoning. Currently 100% occupied with ten tenants under a gross lease, the property generates a net operating income (NOI) of $5,320 with a 0.41% cap rate. The asking price is $1,300,000. Building 119 W Main features a ground floor corner deli with a newly updated commercial kitchen, office space, and a second-floor condo with hardwood floors, updated electrical and plumbing, and a charming enclosed porch. Building 123 W Main houses five professional offices and an art studio, all under lease. Both buildings offer updated amenities, including new bathrooms and updated electrical and plumbing. The property includes eight parking spaces and is situated next to Bowman Park, providing excellent visibility and access. The current lease term is one year, with no rent bumps. This turnkey investment is ideal for a buyer seeking a stable, high-occupancy property in a prime Emmett location. The property features two stories, eight units, and sits on a 7,579 square foot lot. The property is a multi-tenant building with a one-year remaining lease term.

• CAP approach

  CAP return

  Valuation

  6%

  $3,580,070

  6.5%

  $3,304,680

  7%

  $3,068,631

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,421,680

  Geo Method

  $6,421,680

• Alternative Use

  Use

  Valuation

  Residential

  $2,787,621

  Hospitality

  $2,553,446

  Educational

  $2,124,437

  Medical

  $2,197,500

  Retail

  $3,304,680

Location Insight

City

Emmett

County

Gem

State

Idaho

Latitude

43.8752

Longitude

-116.499

CBSA code

14260

CBSA name

BOISE CITY-NAMPA, ID METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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