805 Broadway St, Idaho Falls, ID 83402-3356

This exceptional investment opportunity presents a 3,200 square foot Carl's Jr./Hardee's franchise located at 805 W Broadway St, Idaho Falls, ID 83402. The property, built in 2013, sits on a 0.8-acre lot with 38 parking spaces and benefits from a hard corner location with high visibility. The single-tenant building is classified as Class B and features a drive-thru. The current lease, with Snow Star, LP (a franchisee with over 69 locations), is a Net Lease (NNN) agreement with a remaining term of 6.8 years, commencing March 21, 2021, and expiring September 25, 2031. The lease includes four five-year options, extending the potential lease term to September 2033. Rent increases are structured at 10% every five years. The property boasts a 5.00% cap rate, a $144,000 annual Net Operating Income (NOI), and an asking price of $2,880,000 ($900 per square foot). The property is situated in a high-traffic area with over 23,500 vehicles per day on Broadway Street and over 15,000 on Utah Avenue. It's less than two miles from the Idaho Falls Regional Airport and surrounded by numerous national retailers including Walmart, Panda Express, Wendy's, and Olive Garden. The property is offered debt-free, allowing buyers to maximize their yield with their own financing. The permitted zoning is C.