1115 Northgate Mile Idaho Falls, ID 83401
- Drive through restaurants
- 2,388 SF
- 0.59 lot acres
Current Use by Public Records
- Carl's Jr. / Hamburger Restaurant / Fast Food Restaurant
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.
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
- Idaho Falls
- County
- Bonneville
- State
- Idaho
- Longitude
- -112.023
- Latitude
- 43.5072
- CBSA code
- 26820
- CBSA name
- IDAHO FALLS, ID METROPOLITAN STATISTICAL AREA
