585 N 2Nd E Rexburg, ID 83440

Property Details for 585 N 2Nd E

Lot size

1.14 lot acres

Property size

13,440 SF

Property type

Commercial real estate

APN

RPR4ETA0010080

APU

RPR4ETA0010080

Description

This exceptional investment opportunity presents a fee-simple ownership of a Denny's restaurant in Rexburg, Idaho. The 4,410 square foot building, constructed in 2023, sits on a 1.14-acre lot with 75 parking spaces and boasts a prime location at a signalized intersection on a major retail thoroughfare, N 2nd E. The property benefits from excellent visibility and strong tenant synergy, situated near other national retailers including a large shopping center with Albertson's and Harbor Freight, and within a 1.5-mile radius of a Walmart Supercenter. The current lease, an absolute NNN with zero landlord responsibilities, runs for 20 years, commencing May 1, 2023, and includes two 10-year renewal options. The lease features 10% rental increases every 10 years, ensuring consistent NOI growth. The property's current NOI is $120,000, yielding a 5.75% cap rate at an asking price of $2,087,000. The 5-mile trade area boasts a population exceeding 50,700 with an average household income of $76,283, providing a strong demographic base. The property is zoned CBC (Community Business Center) and has an APN of RPR4ETA0010080. This is a management-free investment with significant long-term growth potential. The current occupancy is 100%.

Location Insight

City

Rexburg

County

Madison

State

Idaho

Longitude

-111.779

Latitude

43.8381

CBSA code

39940

CBSA name

REXBURG, ID MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments