Property Details for 1115 Northgate Mile

Year built

2012

Lot size

0.59 lot acres

Property size

2,388 SF

Property type

Drive through restaurants

APN

RPA5740001001O

APU

RPA5740001001O

Description

This exceptional investment opportunity presents a 2,400-square-foot Hardee's/Carl's Jr. restaurant located at 1115 Northgate Mile in Idaho Falls, Idaho (83401). Built in 2013, this Class B, single-tenant property sits on a 0.6-acre lot with 22 parking spaces and benefits from a prominent location in a high-traffic retail corridor. The property boasts a 100% occupancy rate with a franchisee tenant under a NNN lease expiring April 30, 2032, offering a remaining lease term of 7.4 years. The lease includes 10% rent bumps every five years. The current NOI is $144,000, resulting in a 5.00% cap rate and a price per square foot of $1,200. The asking price is $2,880,000. The property is situated on a hard corner with high visibility, near the intersection of Yellowstone Highway (over 13,000 vehicles per day) and Holmes Avenue (over 14,000 vehicles per day). Its convenient location is less than five miles from the Idaho Falls Regional Airport and is surrounded by other major retailers, including Fred Meyer, Wendy's, McDonald's, and Starbucks. The property is offered debt-free, allowing buyers to maximize their yield. The permitted zoning is C. This is a rare opportunity to acquire a well-established, high-performing QSR investment in a thriving Idaho Falls market.

Location Insight

City

Idaho Falls

County

Bonneville

State

Idaho

Longitude

-112.023

Latitude

43.5072

CBSA code

26820

CBSA name

IDAHO FALLS, ID METROPOLITAN STATISTICAL AREA

Property Tax & Assessments