SINGLE TENANT, NNN INVESTMENT OPPORTUNITY | Located at one of the busiest intersections in Idaho Falls!
TOK Commercial is pleased to exclusively offer the fully leased, freestanding Red Robin restaurant property located at 2450 E. 17th Street in Idaho Falls, for sale. This offering consists of the leasehold interest in the freestanding restaurant, which sits on the outparcel at the Grand Teton Regional Mall (ground not included in sale).
This is a highly valued, absolute NNN leased, corporate guaranteed investment opportunity. The location of the commercial real estate property (2450 E. 17th Street) is positioned prominently with frontage on one of the most frequented intersections of the market — Hitt Road & 17th Street, Idaho Falls' main retail corridor. The property sits on an outparcel to Grand Teton Mall, Idaho Falls’ largest shopping center, surrounded by some of the area’s largest retailers. The property features close proximity to major drivers of the local economy such as the College of Eastern Idaho, Mountainview Hospital, and busy office parks.
This investment offering presents a tremendous opportunity for an investor or 1031exchange buyer to achieve healthy returns with no management involvement. With some of the lowest rents across Red Robin locations nationwide, the offering ensures a stable 11-year tenancy. Red Robin International, Inc. is responsible for all ground lease payments. The current ground lease payment is $114,950/yr. The ground lease expires on 5/31/2023. There are (3), 5-year options to renew the ground lease, with a 10% annual increase to the ground lease rent.
Offering Price: $2,500,000.00
CAP Rate: 8.0%
Net Operating Income: $200,004.00
Current Occupancy: 100%
To learn more about the investment opportunity, please reference the property's website or contact Brent Wilson (208) 656.2270 or John Stevens (208) 947.0814.