Class A Multi-Tenant Industrial
For Sale
$11,632,345
12347 W Executive Dr, Boise, ID 83713
Newly constructed, institutional-quality industrial property with a meaningful office component and 100% leased in-place income.
Property Size32,200 SF
Days on Market81
Property Features for 12347 W Executive Dr
General Information
Standard status
Active
Size
32,200 SF
Class
Class A
Property subtype
Industrial
Occupancy
100%
Net Operating Income
$639,779
Building Details
Building Size
32,200 SF
Year Built
2024
Tenancy
Multi
Listing Agency:
(208) 947-0850
Listed By:
Devin Pierce, SIOR
Source:
Tokcommercial
Added: Jun 2
Changed: Aug 14
Last Checked: Aug 21 at 5:38AM
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 Devin Pierce, SIOR
Investment Insights
Based on property information with market context.
This Class A multi-tenant industrial investment property was newly constructed using institutional-quality concrete tilt construction and modern industrial design throughout. The building is configured to include an approximately 20.4% office ratio, creating space that supports the demand for elevated office environments within an industrial and flex setting. With premium office functionality and build-out, the asset is positioned to serve today’s tenant expectations while maintaining a high-quality standard for an investor profile seeking stabilized performance.
The property is located in one of the Treasure Valley’s most desirable industrial corridors. It is 100% leased to four financially sound tenants, providing stable in-place income tied to an established, multi-tenant structure. This combination of institutional construction and fully leased occupancy is intended to offer long-term investment appeal in a highly sought-after market context.
For buyers and investors, the property’s Class A presentation, modern design, and dedicated office component within the industrial framework make it well-suited to tenants looking for functional warehouse space paired with higher-standard office space. The fact that it is already fully occupied by multiple tenants may appeal to those seeking a stabilized industrial investment with a strong focus on quality and tenant fit.
The property is located in one of the Treasure Valley’s most desirable industrial corridors. It is 100% leased to four financially sound tenants, providing stable in-place income tied to an established, multi-tenant structure. This combination of institutional construction and fully leased occupancy is intended to offer long-term investment appeal in a highly sought-after market context.
For buyers and investors, the property’s Class A presentation, modern design, and dedicated office component within the industrial framework make it well-suited to tenants looking for functional warehouse space paired with higher-standard office space. The fact that it is already fully occupied by multiple tenants may appeal to those seeking a stabilized industrial investment with a strong focus on quality and tenant fit.
Key Highlights
- 2024‑built Class A multi‑tenant industrial property with approximately 20.4% office ratio
- Institutional‑quality concrete tilt construction
- 100% leased to four tenants, providing in‑place leased income
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
$344,090
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
2.96%
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%
$6,881,800
$6.9M
Cap Rate 7%
$4,915,571
$4.9M
Cap Rate 9%
$3,823,222
$3.8M
Market Conditions
NOI Build-Up for 32,200 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
$444.4K $13.80/SF
− Vacancy
−$39.5K −$1.23/SF
EGI
$404.8K $12.57/SF
− OpEx
−$60.7K −$1.89/SF
NOI
$344.1K $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%
$6,881,800
Cap Rate 7%
$4,915,571
Cap Rate 9%
$3,823,222
Alternative Uses
Best Use
Warehouse
$4.92M
$4.30M – $5.73M
NOI $344,090 @ 7.0% cap · market cap 2.96%
Second Best
Flex RnD
$4.60M
$4.02M – $5.36M
NOI $321,736 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$8.89M
$7.78M – $10.37M
NOI $622,490 @ 7.0% cap · market cap 5.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
377
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 83713, ID
30,056
Population
12,019
Households
2.5
Avg Household Size
38
Median Age
42%
College-Educated
96%
High-School Grad
6.6 sq mi
ZIP Area
4,554
Density / Sq Mi
$86,419
Median Household Income
$45,276
Median Earnings
$1,716
Median Rent
$421,600
Median Home Value
Market
Vacancy Rate% for Industrial in Boise, ID
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Meals to go — 3499 E Fairview Ave, Meridian, ID 83642
Frequently Asked Questions
What type of property is this?
Flex space - Newly constructed, institutional-quality industrial property with a meaningful office component and 100% leased in-place income.
Where is this flex space located?
The property is located at 12347 W Executive Dr Boise, ID.
What is the asking price?
The asking price for this property is $11,632,345.
What are key features of this property?
This property features: 2024‑built Class A multi‑tenant industrial property with approximately 20.4% office ratio; Institutional‑quality concrete tilt construction; 100% leased to four tenants, providing in‑place leased income
