Big Box Flex Space with
For Sale
Contact for pricing
Pending
1306 E Homedale Rd, Caldwell, ID 83607
Former gymnastics studio offers wide-open layout, his/her restrooms, and a designed future mezzanine.
Property Size10,300 SF
Days on Market153
Property Features for 1306 E Homedale Rd
General Information
Standard status
Pending
Size
10,300 SF
Property subtype
Industrial, Mixed Use, Special Purpose
Zoning
commercial
Amenities
His/hers restrooms
Listing Agency:
Michener Investments LLP
Listed By:
Keith Cochran · License #co49182
(208) 336-3202
Source:
Crexi
Added: Apr 7
Changed: Aug 8
Last Checked: Jul 24 at 6:42PM
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 Michener Investments LLP
Investment Insights
Based on property information with market context.
This big box flex space is soon to be a former gymnastics studio and features a wide-open interior layout. The building includes his/her restrooms and was built with a future-designed mezzanine concept. The space is available for sale and is expected to be ready for occupancy within months.
Located at 1306 E Homedale Rd in Caldwell, ID, the property is suited for a variety of re-tenanting and reconfiguration plans given its open presentation and mezzanine-ready design.
With approximately 10,300 square feet, the primary value is the clear, flexible footprint paired with the ability to incorporate a future mezzanine arrangement as designed during construction. The owner indicates motivation for a quick sale.
Located at 1306 E Homedale Rd in Caldwell, ID, the property is suited for a variety of re-tenanting and reconfiguration plans given its open presentation and mezzanine-ready design.
With approximately 10,300 square feet, the primary value is the clear, flexible footprint paired with the ability to incorporate a future mezzanine arrangement as designed during construction. The owner indicates motivation for a quick sale.
Key Highlights
- Former gymnastics studio with a wide‑open layout for flexible use
- His‑and‑her restrooms included
- Built with a designed future mezzanine
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
$102,916
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
4.04%
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%
$2,058,320
$2.1M
Cap Rate 7%
$1,470,229
$1.5M
Cap Rate 9%
$1,143,511
$1.1M
Market Conditions
NOI Build-Up for 10,300 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
$173.0K $16.80/SF
− Vacancy
−$14.7K −$1.43/SF
EGI
$158.3K $15.37/SF
− OpEx
−$55.4K −$5.38/SF
NOI
$102.9K $9.99/SF
Area
Canyon County, ID
Vacancy
8.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
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%
$2,058,320
Cap Rate 7%
$1,470,229
Cap Rate 9%
$1,143,511
Alternative Uses
Best Use
Flex RnD
$1.47M
$1.29M – $1.72M
NOI $102,916 @ 7.0% cap · market cap 4.04%
Second Best
Industrial
$1.25M
$1.10M – $1.46M
NOI $87,666 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$2.74M
$2.40M – $3.20M
NOI $192,040 @ 7.0% cap · market cap 7.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
84
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 83607, ID
36,024
Population
11,858
Households
3
Avg Household Size
35
Median Age
23%
College-Educated
87%
High-School Grad
230.0 sq mi
ZIP Area
157
Density / Sq Mi
$80,170
Median Household Income
$40,259
Median Earnings
$1,404
Median Rent
$385,100
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Former gymnastics studio offers wide-open layout, his/her restrooms, and a designed future mezzanine.
Where is this flex space located?
The property is located at 1306 E Homedale Rd Caldwell, ID.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: Former gymnastics studio with a wide‑open layout for flexible use; His‑and‑her restrooms included; Built with a designed future mezzanine
