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    21863 Thorsten Ave lot 200 Unit 203 Or 204 Or 205 Middleton, ID 83644

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    Claim this Listing
    For Lease
    $450,000 SF/Yr $1,125,000,000/Mo (calc)

    COMMERCIAL - Middleton, ID

    Property size:
    30,000 SF
    Added:
    Oct 11, 2024
    Days on Market:
    571
    Last Refresh:
    May 4 at 8:06 am

    Property Features for 21863 Thorsten Ave lot 200 Unit 203 Or 204 Or 205

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Property condition
    Under Construction
    Exterior features
    Paved Outside Area
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    R3407521100/R3407521200
    Size
    30,000 SF

    Taxes and HOA fees

    Tax Description
    See Docs Tab

    Utilities

    Utilities
    Propane
    Heating system
    Natural Gas

    Building Details

    Year built
    2024
    Floors in Building
    2
    Number of units
    3
    Flooring type
    Concrete
    Building materials
    Steel Siding, Metal Siding
    Roof type
    Metal

    We can help!

    Listing Contact
    Todd Mccauley
    Todd Mccauley

    Listing agent Todd Mccauley License #SP33498

    Listing office CENTURY 21 Eagle Rock 9171 W State Street, Eagle, ID

    Listing date Oct 11, 2024

    MLS# 98926578

    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.

    Overview

    Middleton Commercial Flex Space Available

    Middleton Commons offers restaurant, retail, office, industrial, and flex spaces located off Middleton Road in Middleton, Idaho. There are three units available, each offering 3,750 square feet. The buildings feature modern fronts, landscaping, and curb appeal. The units have ceiling heights of nearly 26 feet, allowing for a potential second floor. Ample parking is available, and each unit includes at least one grade-level high garage door in the back. The location provides visibility with over 10,000 traffic counts. The property is build-to-suit.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Map

    City
    Middleton
    County
    Canyon
    State
    Idaho
    Longitude
    -116.615262
    Latitude
    43.6896025

    Nearby Similar for Lease

    • $450,000 SF/Yr

      Middleton Commercial Restaurant/Retail/Office/Industrial & Flex Space

      New commercial condo units available for lease in Middleton, ID.
      21917 Thorsten Ave lot: 100, Individual Units 101-108, Middleton, ID 83644
      View Details
    • Contact for pricing

      New Retail and Office Spaces

      Multi-tenant spaces for lease in Middleton, Idaho.
      10481 Highway 44, Middleton, ID 83644
      View Details
    • Contact for pricing

      New Commercial Flex/Office Development

      New 33-unit flex and office space for rent.
      Hartley Ln, Middleton, ID 83644
      View Details

    FAQs

    What type of property is this?
    Flex space - New flex, retail, and office spaces in Middleton, Idaho.
    Where is this flex space located?
    The property is located at 21863 Thorsten Ave lot 200 Unit 203 Or 204 Or 205 Middleton, ID.
    What is the lease rate?
    The lease rate is $450,000.
    What are key features of this property?
    This property features: Prime location off Middleton Road with high visibility (10,000+ traffic count).; Flexible space: Restaurant/Retail/Office/Industrial/Flex with build‑to‑suit options.; High ceilings (nearly 26 feet) allowing for a potential second floor.
    (208) 866-4879
    We can help!
    Listing Contact
    Todd Mccauley
    Todd Mccauley
    Real Estate License ID: SP33498
    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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    21863 Thorsten Ave lot: 200, Unit 203 Or 204 Or 205, Middleton, ID 83644

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