Automotive Shop with Office
New
For Sale
$382,000
114 Montana, Homedale, ID 83628
A remodeled house offers potential office space alongside a versatile automotive shop.
Property Size1,500 SF
Price / SF$254.67
Days on Market5
Property Features for 114 Montana
General Information
Standard status
Active
Size
1,500 SF
Additional Details
Clear Height
16 ft
Amenities
car lift
16 ft ceilings
Building Details
Buildings
2
Listing Agency:
Idaho Real Estate Company
Listed By:
Kathy Deal · License #33554
(208) 465-9000
Source:
Refinedrealtynw
Added: Sep 22
Changed: Sep 24
Last Checked: Sep 24 at 12:47PM
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 Idaho Real Estate Company
Investment Insights
Based on property information with market context.
The property includes a 50-by-30-foot automotive shop with 16-foot ceilings and a setup suitable for a car lift. The shop can accommodate automotive work, including car restoration, and provides a flexible commercial workspace.
A separate four-bedroom house is fully remodeled and may be converted into office space. Located at 114 W Montana in Homedale, Idaho, the property combines shop functionality with an adaptable building for administrative or support use.
A separate four-bedroom house is fully remodeled and may be converted into office space. Located at 114 W Montana in Homedale, Idaho, the property combines shop functionality with an adaptable building for administrative or support use.
Key Highlights
- 50‑by‑30‑foot automotive shop
- 16‑foot ceilings with setup for a car lift
- Separate four‑bedroom house is fully remodeled
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
$17,955
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
4.70%
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%
$359,100
$359.1K
Cap Rate 7%
$256,500
$256.5K
Cap Rate 9%
$199,500
$199.5K
Market Conditions
NOI Build-Up for 1,500 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
$27.0K $18.00/SF
− Vacancy
−$1.4K −$0.90/SF
EGI
$25.7K $17.10/SF
− OpEx
−$7.7K −$5.13/SF
NOI
$18.0K $11.97/SF
Area
Owyhee County, ID
Vacancy
5.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$359,100
Cap Rate 7%
$256,500
Cap Rate 9%
$199,500
Alternative Uses
Best Use
Retail
$256.5K
$224.4K – $299.3K
NOI $17,955 @ 7.0% cap · market cap 4.70%
Second Best
Flex RnD
$214.1K
$187.4K – $249.8K
NOI $14,988 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$379.4K
$332.0K – $442.7K
NOI $26,561 @ 7.0% cap · market cap 6.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
16 ft
Clear height
Location Intelligence
Trade Area within ½ mile
243
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 83628, ID
4,996
Population
1,704
Households
2.9
Avg Household Size
37
Median Age
14%
College-Educated
85%
High-School Grad
63.1 sq mi
ZIP Area
79
Density / Sq Mi
$62,063
Median Household Income
$28,534
Median Earnings
$943
Median Rent
$233,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
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- ACDelco — Homedale, ID 83628
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Frequently Asked Questions
What type of property is this?
Auto shop - A remodeled house offers potential office space alongside a versatile automotive shop.
Where is this auto shop located?
The property is located at 114 Montana Homedale, ID.
What is the asking price?
The asking price for this property is $382,000.
What are key features of this property?
This property features: 50‑by‑30‑foot automotive shop; 16‑foot ceilings with setup for a car lift; Separate four‑bedroom house is fully remodeled
