Versatile Flex Building on
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11505 W Fairview Ave, Boise, ID 83713
Flex building with retail frontage, loading, and flexible zoning.
Property Size20,050 SF
Price / SF$167.08
Days on Market184
Property Features for 11505 W Fairview Ave
General Information
Standard status
Active
Size
20,050 SF
Class
B
Property subtype
Industrial, Retail
Zoning
MX-3
Investment Type
Owner/User
Building Details
Year Built
1992
Year Renovated
2018
Buildings
1
Stories
2
Listing Agency:
Lee & Associates - Boise
(208) 343-2300
Listed By:
Trey Thomas · License #SP51767
Source:
Crexi
Added: Feb 9
Changed: Aug 7
Last Checked: Aug 12 at 2:16PM
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 building is positioned along a heavily traveled corridor in Boise. The property offers a combination of retail frontage, functional loading, and flexible zoning. It is suited for a range of owner-user or investor strategies. The property features Fairview Avenue exposure with traffic, paired with loading capabilities. The building includes two grade-level doors and one dock-high door, allowing for accommodation of distribution, service, showroom, or hybrid retail/industrial uses. The property size is 20050 square feet.
Key Highlights
- Prominent Fairview Avenue exposure with strong daily traffic counts.
- Flexible zoning ideal for a wide range of owner‑user or investor strategies.
- Rare combination of retail frontage and functional loading.
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
$254,129
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
7.59%
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%
$5,082,580
$5.1M
Cap Rate 7%
$3,630,414
$3.6M
Cap Rate 9%
$2,823,656
$2.8M
Market Conditions
NOI Build-Up for 20,050 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
$380.1K $18.96/SF
− Vacancy
−$17.1K −$0.85/SF
EGI
$363.0K $18.11/SF
− OpEx
−$108.9K −$5.43/SF
NOI
$254.1K $12.67/SF
Area
Ada County, ID
Vacancy
4.50%
Lease Rate
$18.96 /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%
$5,082,580
Cap Rate 7%
$3,630,414
Cap Rate 9%
$2,823,656
Alternative Uses
Best Use
Retail
$3.63M
$3.18M – $4.24M
NOI $254,129 @ 7.0% cap · market cap 7.59%
Second Best
Mixed Use
$3.56M
$3.11M – $4.15M
NOI $249,021 @ 7.0% cap · market cap 7.43%
Theoretical Best
Office A
$5.54M
$4.85M – $6.46M
NOI $387,607 @ 7.0% cap · market cap 11.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
569
Businesses Nearby
Explore this area
Business Placement
Demographics for 83713, ID
30,056
Population
12,019
Households
2.5
Avg Household Size
38
Median Age
42%
College-Educated
96%
High-School Grad
6.6 sq mi
ZIP Area
4,554
Density / Sq Mi
$86,419
Median Household Income
$45,276
Median Earnings
$1,716
Median Rent
$421,600
Median Home Value
Market
Vacancy Rate% for Industrial in Boise, ID
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Flex building with retail frontage, loading, and flexible zoning.
Where is this mixed-use property located?
The property is located at 11505 W Fairview Ave Boise, ID.
What is the asking price?
The asking price for this property is $3,350,000.
What are key features of this property?
This property features: Prominent Fairview Avenue exposure with strong daily traffic counts.; Flexible zoning ideal for a wide range of owner‑user or investor strategies.; Rare combination of retail frontage and functional loading.
