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    788 S Broadway Street Blackfoot, ID 83221

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    Claim this Listing
    For Sale
    $9,800,000

    COMMERCIAL - Blackfoot, ID

    Property size:
    38,800 SF
    Lot size:
    4.28 Acres
    Price / SF:
    $252/SF
    Added:
    Jun 25, 2025
    Days on Market:
    316
    Last Refresh:
    May 6 at 6:06 am

    Property Features for 788 S Broadway Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Size
    38,800 SF
    Lot size
    4.28 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    Exhibit A
    Tax Annual Amount
    15000

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Electric (Heating)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2023
    Building materials
    Block, Brick, Hardboard/Composition, Vinyl Siding
    Roof type
    Metal

    We can help!

    Listing Contact
    Legacy Ranch Properties

    Listing agent Legacy Ranch Properties

    Listing office Keller Williams Realty East Idaho 3525 Merlin Drive, Idaho Falls, ID

    Listing date Jun 25, 2025

    MLS# 2177735

    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.

    Overview

    Multi-Income Investment Opportunity

    Slate Mountain Mobile Home Park is a stabilized, multi-income investment property located in Blackfoot, Idaho. Situated at 788 S Broadway, this 4.28-acre property includes 38 manufactured homes (2023 models), 40 self-storage units, 3 updated apartments, a leased laundromat, and a commercial building with two long-term tenants, one of which is the Humane Society. The property is professionally managed via AppFolio and features paved roads, fiber internet, city utilities, and separate metering. The community-focused layout includes dedicated parking and central green space. The property is designed to enhance tenant satisfaction and reduce wear. The property has a projected NOI of $582,249 by 2027. The property delivers a 6% stabilized cap rate. The property is ideal for 1031 buyers, private investors, or real estate funds seeking scalable, recession-resilient income in an emerging Idaho submarket.
    Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Blackfoot
    County
    Bingham
    State
    Idaho
    Longitude
    -112.351913
    Latitude
    43.183891

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    FAQs

    What type of property is this?
    Mobile home & RV park - Turnkey asset with multiple income streams in Blackfoot, Idaho.
    Where is this mobile home & rv park located?
    The property is located at 788 S Broadway Street Blackfoot, ID.
    What is the asking price?
    The asking price for this property is $9,800,000.
    What are key features of this property?
    This property features: Fully stabilized, turnkey mobile home park with diverse income streams.; Projected NOI of $582,249 by 2027, delivering a 6% stabilized cap rate.; $3.4M in first‑year accelerated depreciation unlocks an estimated $1.2M in tax deductions.
    (208) 529-8888
    We can help!
    Listing Contact
    Legacy Ranch Properties
    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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