Class A Office
For Sale
$3,970,000
1387 S Eagle Flight Way, Boise, ID 83709
14,434 SF Class A office building in Boise MSA.
Property Size14,434 SF
Price / SF$275.05
Days on Market165
Property Features for 1387 S Eagle Flight Way
General Information
Standard status
Active
Size
14,434 SF
Property subtype
Office
Building Details
Building Size
14,434 SF
Year Built
2001
Listing Agency:
TOK Commercial
(208) 947-0816
Listed By:
Peter Oliver, SIOR, CCIM · License #SP44833
Source:
Tokcommercial
Added: Mar 6
Changed: Aug 8
Last Checked: Aug 8 at 6:18AM
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 TOK Commercial
Investment Insights
Based on property information with market context.
This 14,434 SF Class A office building is located in the Boise MSA and offers convenient access to major thoroughfares. The property features ample on-site parking and a central location. It is move-in ready and located in Blackeagle Center. The location provides easy access to I-84, the I-184 Connector, and downtown Boise. The property is close to restaurants and other professional services. The area is suited for investors and tenants seeking a strategic location in a growing business community. Excess land offers the opportunity to deliver new, modern office space.
Key Highlights
- Central location with easy access to I‑84, the I‑184 Connector, and downtown Boise.
- Move‑in ready Class A office space.
- Abundant on‑site parking.
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
$195,509
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
4.92%
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%
$3,910,180
$3.9M
Cap Rate 7%
$2,792,986
$2.8M
Cap Rate 9%
$2,172,322
$2.2M
Market Conditions
NOI Build-Up for 14,434 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
$303.1K $21.00/SF
− Vacancy
−$42.4K −$2.94/SF
EGI
$260.7K $18.06/SF
− OpEx
−$65.2K −$4.52/SF
NOI
$195.5K $13.54/SF
Area
Ada County, ID
Vacancy
14.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$3,910,180
Cap Rate 7%
$2,792,986
Cap Rate 9%
$2,172,322
Alternative Uses
Best Use
Office B
$2.79M
$2.44M – $3.26M
NOI $195,509 @ 7.0% cap · market cap 4.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.99M
$3.49M – $4.65M
NOI $279,038 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
806
Businesses Nearby
Explore this area
Business Placement
Demographics for 83709, ID
59,461
Population
22,262
Households
2.7
Avg Household Size
38
Median Age
37%
College-Educated
96%
High-School Grad
33.7 sq mi
ZIP Area
1,764
Density / Sq Mi
$88,893
Median Household Income
$48,981
Median Earnings
$1,743
Median Rent
$440,700
Median Home Value
Market
Vacancy Rate% for Office in Boise, ID
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 14,434 SF Class A office building in Boise MSA.
Where is this office building located?
The property is located at 1387 S Eagle Flight Way Boise, ID.
What is the asking price?
The asking price for this property is $3,970,000.
What are key features of this property?
This property features: Central location with easy access to I‑84, the I‑184 Connector, and downtown Boise.; Move‑in ready Class A office space.; Abundant on‑site parking.
