Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    420-460 N Spruce Ave, Unit A-H Ketchum, ID 83340

    View on Map
    Sponsored
    For Sale
    $7,250,000

    COMMERCIAL - Ketchum, ID

    Property size:
    5,928 SF
    Lot size:
    0.27 Acres
    Days on Market:
    3
    Last Refresh:
    Mar 22 at 4:06 am

    Property Features for 420-460 N Spruce Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    K/CC
    Rooms
    Bathroom 2, Bedroom 8, Bedroom 6, Bathroom 8, Bathroom 1, Bedroom 4, Bathroom 4, Basement, Bedroom 5, Bedroom 7, Bedroom 2, Bedroom 1, Bedroom 3, Bathroom 6, Bathroom 5, Bathroom 7, Bathroom 3
    Bedrooms
    8
    Bathrooms
    8
    APN
    RPK09450000000
    Size
    5,928 SF
    Lot size
    0.27 Acres

    Building Details

    Year built
    1976
    Building materials
    2 Story, Wood Frame
    Roof type
    Shake

    We can help!

    Listing Contact
    Shane Carden
    Shane Carden

    Keller Williams Sun Valley Southern Idaho

    Listing agent Shane Carden

    Listing date Mar 20, 2026

    MLS# 26-334202

    Copyright © 2026 Sun Valley Board of Realtors. 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

    Ketchum Condo Complex Opportunity

    This is a rare opportunity to own a condo complex comprised of two buildings with a total of eight condo units, situated on 0.27 acres in Ketchum, Idaho. The complex features four 1-bedroom, 1-bathroom first-floor units, along with four 1-bedroom plus loft, 1-bathroom second-floor units. Each unit includes wood-burning fireplaces and two patios, with the front patios offering views of Bald Mountain. On-site amenities include a coined washer/dryer room and a total of 18 parking spots. All condos are currently rented on 1-year leases. The property is ideally located on the north side of Ketchum, across the street from the Ketchum Library, and is approximately 1.5 miles from both Dollar Mountain and Bald Mountain. The total square footage of the condos is 5928, not including the washer/dryer room.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Ketchum
    County
    Blaine
    State
    Idaho
    Longitude
    -114.361334
    Latitude
    43.684322

    Nearby Similar for Sale

    • $995,000
      2,686 SF

      Ketchum Office Space Opportunity

      First-class office space with Baldy views and parking.
      120 N 2 Ave, Ketchum, ID 83340
      View Details
    • $2,495,000
      4,828 SF

      Ketchum Core Office Building

      Large office building in Ketchum with parking and storage.
      171 W 6 St, Ketchum, ID 83340
      View Details
    • New
      $2,395,000
      1,400 SF

      Downtown Ketchum Multi-Use Parcel

      Multi-use parcel with development opportunity in Ketchum, Idaho.
      431 N Walnut Ave, Ketchum, ID 83340
      View Details
    • $625,000
      865 SF

      Ketchum Core Office Space

      Bright corner office in central Ketchum location.
      360 N Ave East, Ketchum, ID 83340
      View Details
    • $1,994,000
      3,621 SF

      Ketchum Commercial Flex Space Available

      Updated flex space with office, break room, and mountain views.
      471 E 10 St, Ketchum, ID 83340
      View Details
    • $2,995,000
      3,782 SF

      Ketchum Mixed-Use Investment Opportunity

      Two-story building and warehouse in Ketchum's Frenchman's Place.
      380 E 9 St E, Ketchum, ID 83340
      View Details
    • $1,985,000
      2,016 SF

      Ketchum Class A Office Condo

      Class A office condominium in the heart of Ketchum, Idaho.
      360 N Ave EAST, Ketchum, ID 83340
      View Details
    • $2,190,000
      2,248 SF

      Ketchum Mixed-Use Retail Space

      Mixed-use retail space in downtown Ketchum with two tenants.
      331 Leadville Ave, Ketchum, ID 83340
      View Details
    • $279,000
      437 SF

      Professional Office Space in Ketchum

      Small, well-maintained office space with parking in the 120 Building.
      120 N 2 Ave, Ketchum, ID 83340
      View Details
    • $850,000
      946 SF

      Ketchum Light Industrial Warehouse Space

      Light industrial warehouse space for sale in Ketchum, Idaho.
      231 Northwood Way, Ketchum, ID 83340
      View Details
    • $1,650,000
      678 SF

      Ketchum Office Suite For Sale

      In-town office suite with mountain views and private deck.
      491 N Main St, Ketchum, ID 83340
      View Details
    • $1,795,000
      700 SF

      Ketchum Office Suite For Sale

      In-town office suite with mountain views and private deck.
      491 N Main St, Ketchum, ID 83340
      View Details

    FAQs

    What type of property is this?
    Apartment building - Condo complex with 8 units in Ketchum, Idaho.
    Where is this apartment building located?
    The property is located at 420-460 N Spruce Ave, Unit A-H Ketchum, ID.
    What is the asking price?
    The asking price for this property is $7,250,000.
    What are key features of this property?
    This property features: - Rare opportunity to own an entire 8-unit condo complex in Ketchum.; - Prime location on the North side of Ketchum, across from the library and close to Dollar and Bald Mountains.; - All units are currently rented with 1-year leases, providing immediate income.
    (208) 309-8112
    Request Owner's contact information
    420-460 N Spruce Ave, Unit A-H Ketchum, ID 83340
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    420-460 N Spruce Ave, Unit A-H
    Ketchum, ID 83340
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    420-460 N Spruce Ave, Unit A-H Ketchum, ID 83340
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Shane Carden
    Shane Carden
    Real Estate License ID: 45475
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!