107 Main St Payette, ID 83661-2521
- Turn key restaurants
- 4,620 SF
- 0.20 lot acres
Apr 24, 2023
Current Use by Public Records
- BB’s Cruise-In Cafè / Family Restaurant
Property Details for 107 Main St
- Year built
- 1920
- Lot size
- 0.20 lot acres
- Property size
- 4,620 SF
- Property type
- 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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Payette
- County
- Payette
- State
- Idaho
- Longitude
- -116.936
- Latitude
- 44.0762
- CBSA code
- 36620
- CBSA name
- ONTARIO, OR-ID MICROPOLITAN STATISTICAL AREA
