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    Renovated Multi-Level Downtown Building Title is generated by Realmo AI

    202 Main Avenue S, Twin Falls, ID 83301

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    For Lease
    $154,292 SF/Yr $292,601,920/Mo (calc)

    COMMERCIAL - Twin Falls, ID

    Property size:
    22,757 SF
    Lot size:
    0.21 Acres
    Added:
    Mar 25, 2026
    Days on Market:
    51
    Last Refresh:
    May 14 at 6:06 am

    Property Features for 202 Main Avenue S

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    APN
    No Real Property
    Size
    22,757 SF
    Lot size
    0.21 Acres

    Taxes and HOA fees

    Tax Description
    No Real Property

    Utilities

    Heating system
    Hot Water(Heating), Natural Gas
    Cooling system
    Evaporative Cooling, Central Air

    Building Details

    Year built
    1952
    Flooring type
    Concrete, Wood
    Building materials
    Brick, Frame
    Roof type
    Rolled Hot Mop

    We can help!

    Listing Contact
    Sid Lezamiz
    Sid Lezamiz

    Listing agent Sid Lezamiz License #DB16358

    Listing office Lezamiz Real Estate Co. 705 Fillmore St., Twin Falls, ID

    Listing date Mar 25, 2026

    MLS# 98979301

    Copyright © 2026 Intermountain Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime downtown Twin Falls location at 202 Main Avenue South.
    • 23,000 sq. ft. multi‑level brick building offers exceptional space and flexibility.
    • Extensive remodel with brand new HVAC, updated electrical, new plumbing, and ADA compliant restrooms.
    • Freight elevator access for convenient loading and unloading.
    • Suitable for office, retail, creative workspace, or mixed‑use tenants.
    • Owner willing to assist with tenant build‑out and/or potential improvements.

    Overview

    Located in the heart of downtown Twin Falls, this renovated multi-level brick building offers 23,000 sq. ft. of space suitable for a variety of commercial uses. The building has undergone an extensive remodel, featuring new HVAC, updated electrical systems, new plumbing, ADA compliant restrooms, new flooring, and a freshly painted interior. The property includes five restrooms, wide stairways, and an office area with multiple configuration options. Freight elevator access from the alley provides convenient loading and unloading. The property is ideal for office, retail, creative workspace, or mixed-use tenants. The owner is willing to assist with tenant build-out and potential improvements. The building is located at 202 Main Avenue S, Twin Falls, ID 83301, and occupies a lot of 0.21 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Claude Brown's Home ... Carpet & Flooring Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Twin Falls
    County
    Twin Falls
    State
    Idaho
    Longitude
    -114.4689186
    Latitude
    42.5545507

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    FAQs

    What type of property is this?
    Office building - 23,000 sq. ft. renovated building in downtown Twin Falls.
    Where is this office building located?
    The property is located at 202 Main Avenue S Twin Falls, ID.
    What is the lease rate?
    The lease rate is $154,292.
    What are key features of this property?
    This property features: Prime downtown Twin Falls location at 202 Main Avenue South.; **23,000 sq. ft. multi‑level brick building offers exceptional space and flexibility.**; **Extensive remodel with brand new HVAC, updated electrical, new plumbing, and ADA compliant restrooms.**
    (208) 733-5900
    We can help!
    Listing Contact
    Sid Lezamiz
    Sid Lezamiz
    Real Estate License ID: DB16358
    Learn More
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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
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