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    The Largest CRE Database in the US with Over 1 Million Listings

    1540 Elk Creek Dr, Unit 1 Idaho Falls, ID 83404

    Sponsored
    For Lease
    Contact for pricing

    COMMERCIAL - Idaho Falls, ID

    Type:Office
    Property size:
    1,837 SF
    Days on Market:
    144
    Last Refresh:
    Feb 7 at 4:06 pm

    Property Features for 1540 Elk Creek Dr

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2
    Bathrooms
    2
    Parking features
    Parking Lot
    Accessibility
    Accessible Approach with Ramp
    Size
    1,837 SF

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2004
    Floors in Building
    1

    We can help!

    Listing Contact
    Ryan Webster
    Ryan Webster

    Keller Williams Realty East Idaho (208) 529-8888

    Listing agent Ryan Webster (208) 221-0995

    Listing date Sep 17, 2025

    MLS# 2179630

    Copyright © 2026 Snake River Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Idaho Falls Commercial Space For Rent

    Located in Kensington Professional Park, this commercial space in Idaho Falls, ID, offers 1,837 square feet suitable for a medical office or general business. The building is situated within a busy medical and business complex, providing easy access and ample parking. The main floor features an open waiting room, a custom built-in reception desk, and a custom work area. It also includes three individual offices or patient rooms, two large rooms previously used as surgical rooms, and two restrooms. This office space provides a blend of location, exposure, and amenities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dr. Jed Erickson Physician Idaho Foot and Ankle ... Medical Clinic Dr. Kylin Kovac, ... Physician Dr. Aaron Allred, ... Physician Dr. Bruce Tolman Physician

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Countryside Veterinary Hospital: Shoemaker Kathy DVM, Countryside Veterinary Hospital

    Location Insight

    • Map
    • Local Demand
    City
    Idaho Falls
    County
    Bonneville
    State
    Idaho
    Longitude
    -112.0036182
    Latitude
    43.4650319

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    FAQs

    What type of property is this?
    Medical office - Located in Kensington Professional Park, suitable for medical or business.
    Where is this medical office located?
    The property is located at 1540 Elk Creek Dr, Unit 1 Idaho Falls, ID.
    What are key features of this property?
    This property features: - Prime location in Kensington Professional Park, a busy medical and business complex.; - Ideal for medical or general business office use.; - Spacious layout with open waiting room, custom reception desk, and custom work area.
    (208) 529-8888
    Request Owner's contact information
    1540 Elk Creek Dr, Unit 1 Idaho Falls, ID 83404
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    Idaho Falls, ID 83404
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1540 Elk Creek Dr, Unit 1 Idaho Falls, ID 83404
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    We can help!
    Listing Contact
    Ryan Webster
    Ryan Webster
    Real Estate License ID: SP30269
    (208) 529-8888
    Learn more
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