Homestead Square | 1301 E 17th St
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Homestead Square 1301 E 17th St
9,500 SF 91% Leased Office Building Idaho Falls, ID 83404 £1,578,000 (£166/SF) 6.50% Net Initial Yield
Investment Highlights
- 95% leased with immediate cash flow
Executive Summary
BUILDING IS 95% LEASED OUT TO A 1 HEALTHCARE ORGANIZATION ON A 5 YEAR LEASE AT $162,000 PER YEAR. WITH EXPENSES, THAT IS NEARLY A 6.5% CAP RATE WITH THAT 1 TENANT ALONE. THERE IS A SECOND TENANT PAYING MONTH TO MONTH AN ADDITIONAL $1,500 PER MONTH, INCREASING THAT CAP RATE; THIS SPACE COULD BE VACATED FOR THE BUYER TO OWNER OCCUPY, IT IS A VERY NICE EXECUTIVE SUITE. GREAT INVESTMENT PROPERTY!!!! THIS PROPERTY IS AGENT OWNED, THERE IS AN ADJACENT PROPERTY THAT MIGHT BE AVAILABLE AS WELL.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£127,818
|
£13.45
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£127,818
|
£13.45
|
| Taxes |
£6,071
|
£0.64
|
| Operating Expenses |
£18,729
|
£1.97
|
| Total Expenses |
£24,801
|
£2.61
|
| Net Operating Income |
£103,017
|
£10.84
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £127,818 |
| Annual Per SF | £13.45 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £127,818 |
| Annual Per SF | £13.45 |
| Taxes | |
|---|---|
| Annual | £6,071 |
| Annual Per SF | £0.64 |
| Operating Expenses | |
|---|---|
| Annual | £18,729 |
| Annual Per SF | £1.97 |
| Total Expenses | |
|---|---|
| Annual | £24,801 |
| Annual Per SF | £2.61 |
| Net Operating Income | |
|---|---|
| Annual | £103,017 |
| Annual Per SF | £10.84 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
9,500 SF
Building Class
B
Year Built
1980
Price
£1,578,000
Price Per SF
£166
Net Initial Yield
6.50%
NOI
£102,570
Percent Leased
91%
Tenancy
Multiple
Number of Floors
2
Typical Floor Size
4,750 SF
Building FAR
0.40
Land Acres
0.55 AC
Zoning
R-3A
Parking
80 Spaces (3.76 Spaces per 1,000 SF Leased)
Amenities
- Atrium
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PROPERTY TAXES
| Parcel Number | RPA1010001001O | Total Assessment | £448,404 |
| Land Assessment | £113,162 | Annual Taxes | £6,071 (£0.64/sf) |
| Improvements Assessment | £335,243 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
RPA1010001001O
Land Assessment
£113,162
Improvements Assessment
£335,243
Total Assessment
£448,404
Annual Taxes
£6,071 (£0.64/sf)
Tax Year
2024
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Homestead Square | 1301 E 17th St
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