Multi-Tenant Retail Building For
11801 N 23rd Ave. Boise, ID 83714
For Sale
Contact for pricing
Two-tenant retail building in north Boise foothills community.
Property Size5,912 SF
Price / SF$380.58
Days on Market310
Property Features for 11801 N 23rd Ave.
General Information
- Standard status
- Active
- Size
- 5,912 SF
- Property subtype
- Mixed Use, Retail, Special Purpose
Building Details
- Year Built
- 2021
Listing Agency:
Lee & Associates - Boise
(208) 340-9780
Listed By:
Matt Mahoney · License #ID 31358
Source:
Crexi
Added: Sep 19, 2025
Changed: Jul 10
Last Checked: Jul 24 at 12:34PM
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 For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $112.1k | $18.96 |
| − Vacancy | −$5.0k | −$0.85 |
| EGI | $107.0k | $18.11 |
| − OpEx | −$32.1k | −$5.43 |
| NOI | $74.9k | $12.67 |
5,912 SF · lease $18.96/SF/yr · vacancy 4.50% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Isalis
(Bike/Boat/Book/etc) Store
Party City
Party Supply Store
Skunk Funk
Big Box & Wholesale Store
Carl's Trading Co
Hat Shop
Bushka's Kitchen LLC
(Bike/Boat/Book/etc) Store
FAQs
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**.
