Mixed-Use Property with Retail
New
For Sale
$2,500,000
6121 & 6211 Cleveland Blvd, Caldwell, ID 83607
C-3-zoned commercial property combines retail space with an existing office use and access from two roadways.
Property Size9,390 SF
Price / SF$266.24
Days on Market2
Property Features for 6121 & 6211 Cleveland Blvd
General Information
Standard status
Active
Size
9,390 SF
Building Details
Year Built
1962
Listing Agency:
Homes of Idaho
Listed By:
Haley Kristovich · License #SP50048
(208) 608-4666
Source:
Noplacelikeidaho
Added: Sep 15
Last Checked: Sep 15 at 2:18PM
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 Homes of Idaho
Investment Insights
Based on property information with market context.
This mixed-use property spans more than 3 acres and includes existing retail space along with a residential-style structure currently used as an office. The property was built in 1962 and carries C-3 service commercial zoning, supporting its existing commercial configuration.
Access and exposure extend along Cleveland Boulevard and Laster Lane, with more than 270 feet of Boulevard frontage plus an additional 200 feet of frontage and access on Laster Lane. The site includes two addresses and provides a combination of retail, office, and land components within one commercial holding.
Access and exposure extend along Cleveland Boulevard and Laster Lane, with more than 270 feet of Boulevard frontage plus an additional 200 feet of frontage and access on Laster Lane. The site includes two addresses and provides a combination of retail, office, and land components within one commercial holding.
Key Highlights
- More than 3 acres across two addressed properties
- C‑3 service commercial zoning
- Existing retail space and office use
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
$130,145
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
5.21%
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%
$2,602,900
$2.6M
Cap Rate 7%
$1,859,214
$1.9M
Cap Rate 9%
$1,446,056
$1.4M
Market Conditions
NOI Build-Up for 9,390 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
$197.2K $21.00/SF
− Vacancy
−$23.7K −$2.52/SF
EGI
$173.5K $18.48/SF
− OpEx
−$43.4K −$4.62/SF
NOI
$130.1K $13.86/SF
Area
Canyon County, ID
Vacancy
12.00%
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%
$2,602,900
Cap Rate 7%
$1,859,214
Cap Rate 9%
$1,446,056
Alternative Uses
Best Use
Office B
$1.86M
$1.63M – $2.17M
NOI $130,145 @ 7.0% cap · market cap 5.21%
Second Best
Retail
$1.68M
$1.47M – $1.96M
NOI $117,770 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$2.50M
$2.19M – $2.92M
NOI $175,073 @ 7.0% cap · market cap 7.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
307
Businesses Nearby
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
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - C-3-zoned commercial property combines retail space with an existing office use and access from two roadways.
Where is this mixed-use property located?
The property is located at 6121 & 6211 Cleveland Blvd Caldwell, ID.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: More than 3 acres across two addressed properties; C‑3 service commercial zoning; Existing retail space and office use
