107 Main StPayette, ID 83661

Property Details for 107 Main St

Year built

1920

Lot size

0.20 AC

Property size (Sq ft)

4,620 SF

Property type

Retail properties

Property subtype

Turn key restaurants

APN

P1270005019A

APU

P1270005019A

Description

This exceptional investment opportunity presents two adjacent, fully occupied retail buildings located at 107 & 109 N Main Street in Payette, Idaho. The properties, totaling 9,483 square feet on a 0.332-acre lot, are currently leased under Net Lease (NNN) agreements. Building 107, a restaurant, has a remaining lease term of two years, while building 109, a family recreation/entertainment venue, boasts a lease extending through 2029. Both properties benefit from a 100% occupancy rate, generating a strong net operating income (NOI) of $101,075, resulting in a compelling 10.11% cap rate. The buildings, constructed in 1920, underwent significant renovations in 2024, with approximately $190,000 invested in improvements to 109 N Main Street. The properties are zoned C-1 and offer a combined price of $1,000,000, translating to a land value of $69.08 per square foot. While offered as a package, individual building purchases may be considered. This presents a rare opportunity to acquire a high-performing, multi-tenant retail portfolio in a desirable location with significant upside potential. The properties are classified as Class B and feature a total of two units across two single-story buildings. The occupancy date for the recently renovated building is November 15, 2024. The properties are identified by APN numbers P1270005019A and P1270005018A.

• CAP approach

  CAP return

  Valuation

  6%

  $1,383,862

  6.5%

  $1,277,411

  7%

  $1,186,168

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,482,276

  Geo Method

  $2,482,276

• Alternative Use

  Use

  Valuation

  Residential

  $1,077,544

  Hospitality

  $987,025

  Educational

  $821,193

  Medical

  $849,435

  Retail

  $1,277,411

Location Insight

City

Payette

County

Payette

State

Idaho

Latitude

44.0762

Longitude

-116.936

CBSA code

36620

CBSA name

ONTARIO, OR-ID MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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