Flex Space with Fenced
For Sale
$629,900
Pending
1111 3rd Ave No, Nampa, ID 83687
Commercial Sale, Nampa, ID
Property Size2,000 SF
Lot Size0.30 Acres
Days on Market123
Property Features for 1111 3rd Ave No
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Light Industerial
Parking
15
Fencing
Fenced
Lot features
10000 S F - .49 Acre
Directions
South from I-84 Franklin Exit to 3rd Ave No.
Standard status
Pending
APN
R142610100
Size
2,000 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Description
See Exhibit A
Legal Description
See Exhibit A
Utilities
Utilities
Propane
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Building Details
Year built
2007
Floors in Building
2
Flooring type
Concrete
Building materials
Steel Siding, Metal Siding
Roof type
Metal
Listing Agency:
Team Realty
(208) 465-7770
Listed By:
Mary Vis · License #23583
(208) 631-3999
Added: Apr 24
Changed: Aug 24
Last Checked: Aug 24 at 9:06PM
MLS# 98983500
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.
Investment Insights
Based on property information with market context.
This 2,000-square-foot flex property, built in 2007, is configured for independent office and warehouse functions within the same building. Separate entrances, office areas, bathrooms, and shop space support divided occupancy, while the layout also includes a front office and an upstairs loft suitable for storage or workspace. Concrete flooring, a metal roof, forced-air natural gas heat, central air, and steel and metal siding complete the improvements.
The property occupies 0.3 acres at 1111 3rd Ave No in Nampa, Idaho, with convenient access to I-84. A fenced yard and circular truck drive provide exterior circulation and secured yard space. The building includes 14-foot roll-up doors for loading and unloading, and propane is listed among the property utilities.
The property occupies 0.3 acres at 1111 3rd Ave No in Nampa, Idaho, with convenient access to I-84. A fenced yard and circular truck drive provide exterior circulation and secured yard space. The building includes 14-foot roll-up doors for loading and unloading, and propane is listed among the property utilities.
Key Highlights
- 2,000 square feet on a 0.3‑acre parcel
- Built in 2007 with steel and metal siding
- 14‑foot roll‑up doors for loading and unloading
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,830
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.10%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$516,600
$516.6K
Cap Rate 7%
$369,000
$369.0K
Cap Rate 9%
$287,000
$287.0K
Market Conditions
NOI Build-Up for 2,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$42.0K $21.00/SF
− Vacancy
−$7.6K −$3.78/SF
EGI
$34.4K $17.22/SF
− OpEx
−$8.6K −$4.31/SF
NOI
$25.8K $12.92/SF
Area
Nampa, ID
Vacancy
18.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$516,600
Cap Rate 7%
$369,000
Cap Rate 9%
$287,000
Alternative Uses
Best Use
Office B
$369.0K
$322.9K – $430.5K
NOI $25,830 @ 7.0% cap · market cap 4.10%
Second Best
Warehouse
$298.1K
$260.9K – $347.8K
NOI $20,869 @ 7.0% cap · market cap 3.31%
Theoretical Best
Office A
$505.9K
$442.7K – $590.2K
NOI $35,414 @ 7.0% cap · market cap 5.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
286
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 83687, ID
37,254
Population
14,484
Households
2.6
Avg Household Size
33
Median Age
27%
College-Educated
91%
High-School Grad
49.4 sq mi
ZIP Area
754
Density / Sq Mi
$72,294
Median Household Income
$40,328
Median Earnings
$1,416
Median Rent
$369,700
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Flexible steel-sided commercial building with separate access points, loading doors, offices, and warehouse areas.
Where is this flex space located?
The property is located at 1111 3rd Ave No Nampa, ID.
What is the asking price?
The asking price for this property is $629,900.
What are key features of this property?
This property features: 2,000 square feet on a 0.3‑acre parcel; Built in 2007 with steel and metal siding; 14‑foot roll‑up doors for loading and unloading
