HVAC-Equipped Storage
New
For Sale
$140,000
1183 Exchange Street, Boise, ID 83716
A vacant storage unit offers conditioned space, RV electrical service, and access to shared clubhouse amenities.
Property Size770 SF
Lot Size6.40 Acres
Price / SF$181.82
Days on Market2
Property Features for 1183 Exchange Street
General Information
Standard status
Active
Size
770 SF
Class
Class A
Lot size
6.40 Acres
Property subtype
Commercial
Occupancy
94%
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Utilities to Site
Yes
Warehouse & Industrial
Voltage
480 V
Three-Phase Power
Yes
Sprinkler System
Yes
Self-Storage Units
734
Additional Details
Asking Price
$9,200,000
Taxes and HOA fees
Annual Taxes
$1,130
Building Details
Year Built
2023
Buildings
3
Stories
1
Construction
concrete
Listing Agency:
KW Commercial
Listed By:
Gregory Davis
Source:
Clearwaterproperties
Added: Sep 26
Last Checked: Sep 26 at 7:36AM
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 vacant self-storage condo measures 14' x 55' and has a mini-split HVAC system. Electrical service includes 30-amp and 50-amp connections. The unit is at 1183 Exchange Street, C10, in Boise, with access from I-84 and Gowen Road.
A clubhouse on the property includes a kitchen and two bathrooms with showers.
A clubhouse on the property includes a kitchen and two bathrooms with showers.
Key Highlights
- 14' x 55' storage condo with mini‑split HVAC
- 30‑amp and 50‑amp electrical service in the unit
- Shared clubhouse with kitchen and two bathrooms with showers
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
$8,228
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
5.88%
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%
$164,560
$164.6K
Cap Rate 7%
$117,543
$117.5K
Cap Rate 9%
$91,422
$91.4K
Market Conditions
NOI Build-Up for 770 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
$10.6K $13.80/SF
− Vacancy
−$946 −$1.23/SF
EGI
$9.7K $12.57/SF
− OpEx
−$1.5K −$1.89/SF
NOI
$8.2K $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%
$164,560
Cap Rate 7%
$117,543
Cap Rate 9%
$91,422
Alternative Uses
Best Use
Warehouse
$117.5K
$102.9K – $137.1K
NOI $8,228 @ 7.0% cap · market cap 5.88%
Second Best
Self Storage
$104.2K
$91.2K – $121.6K
NOI $7,296 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$212.7K
$186.1K – $248.1K
NOI $14,886 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
94%
Occupancy
Yes
Sprinkler system
Yes
Fenced yard
Yes
Highway access
Yes
Utilities to site
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 vacant storage unit offers conditioned space, RV electrical service, and access to shared clubhouse amenities.
Where is this self storage facility located?
The property is located at 1183 Exchange Street Boise, ID.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: 14' x 55' storage condo with mini‑split HVAC; 30‑amp and 50‑amp electrical service in the unit; Shared clubhouse with kitchen and two bathrooms with showers
