Multi-Tenant Retail Building For
For Sale
Contact for pricing
11801 N 23rd Ave., Boise, ID 83714
Two-tenant retail building in north Boise foothills community.
Property Size5,912 SF
Price / SF$380.58
Days on Market383
Property Features for 11801 N 23rd Ave.
General Information
Standard status
Active
Size
5,912 SF
Class
A
Property subtype
Mixed Use, Retail, Special Purpose
Zoning
PC
Building Details
Year Built
2021
Buildings
1
Stories
1
Listing Agency:
Lee & Associates - Boise
Listed By:
Matt Mahoney · License #ID 31358
(208) 340-9780
Source:
Crexi
Added: Sep 19, 2025
Changed: Sep 21
Last Checked: Oct 5 at 7:22PM
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 multi-tenant retail building, totaling 5,912 square feet, is located in the north Boise foothills community. The property features two tenant spaces. One space is occupied by Hidden Springs Animal Hospital, a veterinary practice. The second unit is a vacant, fully built-out restaurant space that is ready for immediate occupancy. The property serves the surrounding population of Hidden Springs, Cartwright Ranch, Avimor, and North Boise.
Key Highlights
- Multi‑tenant retail building in the growing north Boise foothills community.
- Features a stabilized tenant: Hidden Springs Animal Hospital.
- Includes a vacant, fully built‑out restaurant space ready for immediate occupancy.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,933
Cap Rate
3.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,498,660
$1.5M
Cap Rate 7%
$1,070,471
$1.1M
Cap Rate 9%
$832,589
$832.6K
Market Conditions
NOI Build-Up for 5,912 SF
Gross rent
$112.1K $18.96/SF
− Vacancy
−$5.0K −$0.85/SF
EGI
$107.0K $18.11/SF
− OpEx
−$32.1K −$5.43/SF
NOI
$74.9K $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 Rate 5%
$1,498,660
Cap Rate 7%
$1,070,471
Cap Rate 9%
$832,589
Alternative Uses
Best Use
Retail
$1.07M
$936.7K – $1.25M
NOI $74,933 @ 7.0% cap · market cap 3.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.63M
$1.43M – $1.90M
NOI $114,291 @ 7.0% cap · market cap 5.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
410
Businesses Nearby
16k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Chevron
Shops & Services
12,902 visits/mo
0.5 miles
Jacksons
Shops & Services
3,591 visits/mo
0.5 miles
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 Retail in Boise, ID
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Two-tenant retail building in north Boise foothills community.
Where is this retail space located?
The property is located at 11801 N 23rd Ave. Boise, ID.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Multi‑tenant retail building in the growing north Boise foothills community.; Features a stabilized tenant: **Hidden Springs Animal Hospital**.; Includes a vacant, **fully built‑out restaurant space ready for immediate occupancy**.
