121 Honeysuckle St Bellevue, ID 83313

Property Details for 121 Honeysuckle St

Lot size

0.29 lot acres

Property size

5,596 SF

Property type

Commercial real estate

APN

RPB04090030100

APU

RPB04090030100

Description

This exceptional mixed-use property at 121 Honeysuckle Street, Bellevue, ID 83313, presents a compelling investment opportunity. The 5,596 square foot building, situated on a 0.29-acre lot within the Honeysuckle Business Park, boasts a desirable blend of industrial, office, and residential space. Constructed in 1998 and extensively renovated in 2022, the property includes a first-floor owner's shop/warehouse, a net-leased first-floor office space, and two newly constructed, three-bedroom, two-bathroom apartments on the second floor. The building currently enjoys 100% occupancy with four tenants, generating a substantial net operating income (NOI) of $112,200, resulting in a 6.00% capitalization rate. The asking price is $1,870,000, translating to $334.17 per square foot. The property features 15 parking spaces and is zoned for light industrial use. Leases are NNN, commencing January 1, 2023, with lease options available. The current owner is willing to vacate the shop space or consider a lease-back arrangement. Conceptual plans exist for a potential 1,161 square foot light industrial addition. This fee-simple ownership offers significant upside potential for both investors and owner-users seeking rental income. The property's recent renovations include a new sprinkler system. This is a stabilized investment with a strong tenant base and significant potential for future growth.

Location Insight

City

Bellevue

County

Blaine

State

Idaho

Longitude

-114.254

Latitude

43.4521

CBSA code

25200

CBSA name

HAILEY, ID MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments