Conditioned Self-Storage
New
For Sale
$86,000
1183 E Exchange Street A22, Boise, ID 83716
A mini-split HVAC system and 110V outlet support conditioned storage for belongings, boats, or small RVs.
Property Size480 SF
Price / SF$179.17
Days on Market2
Property Features for 1183 E Exchange Street A22
General Information
Standard status
Active
Size
480 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Gross Income
$4,608
Voltage
110 V
Building Details
Year Built
2023
Listing Agency:
KW Commercial
Listed By:
Gregory Davis · License #SP32434
(208) 672-9000
Source:
Truenorthrealestategroupllc
Added: Sep 26
Last Checked: Sep 26 at 7:54AM
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 KW Commercial
Investment Insights
Based on property information with market context.
This 480-square-foot self-storage condo measures 12 feet by 40 feet and was built in 2023. A mini-split HVAC system provides conditioned storage, and an additional 110V outlet can power a trickle charger or another small device. The space can accommodate belongings, a boat, or a small RV.
The unit is currently leased on a month-to-month basis. Access is available from I-84 and Gowen Road.
The unit is currently leased on a month-to-month basis. Access is available from I-84 and Gowen Road.
Key Highlights
- 480‑square‑foot storage condo with 12‑foot‑by‑40‑foot dimensions
- Mini‑split HVAC system for conditioned storage
- Additional 110V outlet for a trickle charger or small device
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
$5,129
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
5.96%
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%
$102,580
$102.6K
Cap Rate 7%
$73,271
$73.3K
Cap Rate 9%
$56,989
$57.0K
Market Conditions
NOI Build-Up for 480 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
$6.6K $13.80/SF
− Vacancy
−$590 −$1.23/SF
EGI
$6.0K $12.57/SF
− OpEx
−$905 −$1.89/SF
NOI
$5.1K $10.69/SF
Area
Ada County, ID
Vacancy
8.90%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
15.00%
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%
$102,580
Cap Rate 7%
$73,271
Cap Rate 9%
$56,989
Alternative Uses
Best Use
Warehouse
$73.3K
$64.1K – $85.5K
NOI $5,129 @ 7.0% cap · market cap 5.96%
Second Best
Self Storage
$65.0K
$56.9K – $75.8K
NOI $4,548 @ 7.0% cap · market cap 5.29%
Theoretical Best
Office A
$132.6K
$116.0K – $154.7K
NOI $9,279 @ 7.0% cap · market cap 10.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
196
Businesses Nearby
Explore this area
Business Placement
Demographics for 83716, ID
21,583
Population
9,032
Households
2.4
Avg Household Size
40
Median Age
58%
College-Educated
97%
High-School Grad
1,039.1 sq mi
ZIP Area
21
Density / Sq Mi
$125,827
Median Household Income
$65,551
Median Earnings
$1,949
Median Rent
$573,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Boise, ID
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - A mini-split HVAC system and 110V outlet support conditioned storage for belongings, boats, or small RVs.
Where is this self storage facility located?
The property is located at 1183 E Exchange Street A22 Boise, ID.
What is the asking price?
The asking price for this property is $86,000.
What are key features of this property?
This property features: 480‑square‑foot storage condo with 12‑foot‑by‑40‑foot dimensions; Mini‑split HVAC system for conditioned storage; Additional 110V outlet for a trickle charger or small device
