Flex Space with Secured
For Sale
Contact for pricing
112 East 45th Street, Boise, ID 83714
C-2-zoned property combines office space, warehouse/shop area, and a secured yard.
Property Size4,000 SF
Price / SF$337.50
Days on Market64
Property Features for 112 East 45th Street
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Industrial
Zoning
C-2
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Additional Details
Heavy Power
Yes
Amenities
secured yard
Building Details
Year Built
1990
Buildings
1
Listing Agency:
Lee & Associates - Boise
(208) 343-2300
Listed By:
Trey Thomas · License #SP51767
Source:
Crexi
Added: Jun 29
Changed: Aug 29
Last Checked: Aug 29 at 7:30PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lee & Associates - Boise
Investment Insights
Based on property information with market context.
This flex-space property includes a well-maintained commercial building with dedicated office space and a warehouse/shop area. The building contains approximately 4,000 square feet and was constructed in 1990, providing a practical combination of administrative and operational space.
The site occupies a corner lot and includes a secured yard. Multiple utility upgrades and industrial-grade power capabilities support a range of commercial operations. C-2 zoning adds a defined commercial land-use designation to the property.
The site occupies a corner lot and includes a secured yard. Multiple utility upgrades and industrial-grade power capabilities support a range of commercial operations. C-2 zoning adds a defined commercial land-use designation to the property.
Key Highlights
- Approximately 4,000‑square‑foot flex‑space building
- Dedicated office space plus warehouse/shop area
- Secured yard on a corner lot
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
$54,180
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
4.01%
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%
$1,083,600
$1.1M
Cap Rate 7%
$774,000
$774.0K
Cap Rate 9%
$602,000
$602.0K
Market Conditions
NOI Build-Up for 4,000 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
$84.0K $21.00/SF
− Vacancy
−$11.8K −$2.94/SF
EGI
$72.2K $18.06/SF
− OpEx
−$18.1K −$4.52/SF
NOI
$54.2K $13.54/SF
Area
Ada County, ID
Vacancy
14.00%
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%
$1,083,600
Cap Rate 7%
$774,000
Cap Rate 9%
$602,000
Alternative Uses
Best Use
Office B
$774.0K
$677.3K – $903.0K
NOI $54,180 @ 7.0% cap · market cap 4.01%
Second Best
Warehouse
$610.6K
$534.3K – $712.4K
NOI $42,744 @ 7.0% cap · market cap 3.17%
Theoretical Best
Office A
$1.10M
$966.6K – $1.29M
NOI $77,328 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Heavy power
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
784
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 83714, ID
26,181
Population
11,672
Households
2.2
Avg Household Size
43
Median Age
45%
College-Educated
94%
High-School Grad
54.2 sq mi
ZIP Area
483
Density / Sq Mi
$86,114
Median Household Income
$43,867
Median Earnings
$1,384
Median Rent
$468,100
Median Home Value
Market
Vacancy Rate% for Office in Boise, ID
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - C-2-zoned property combines office space, warehouse/shop area, and a secured yard.
Where is this flex space located?
The property is located at 112 East 45th Street Boise, ID.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Approximately 4,000‑square‑foot flex‑space building; Dedicated office space plus warehouse/shop area; Secured yard on a corner lot
