Flex Warehouse for
For Sale
$499,900
1378 S Grizzly Avenue, Idaho Falls, ID 83402
Warehouse/flex space with on-site parking, offered for sale in Idaho Falls.
Property Size2,466 SF
Price / SF$202.72
Days on Market77
Property Features for 1378 S Grizzly Avenue
General Information
Standard status
Active
Size
2,466 SF
Taxes and HOA fees
Annual Taxes
$2,891
Listing Agency:
Century 21 High Desert
(208) 589-8621
Listed By:
Kevin Taggart · License #SP35555
(208) 589-8621
Source:
Exprealty
Added: Jun 9
Changed: Aug 23
Last Checked: Aug 24 at 10:40AM
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 Century 21 High Desert
Investment Insights
Based on property information with market context.
This flex warehouse property is offered for sale at 1378 Grizzly Avenue in Idaho Falls, Idaho. The sellers have established the location and are moving up into a bigger space, creating an opportunity for the next user to take over the site. The offering includes a warehouse/flex configuration and on-site parking.
The property size is 2,466 square feet, and the list price is $499,900. While the remarks emphasize the quality of the building and parking, potential buyers should review the space directly to confirm layout and condition for their specific operational needs.
The property size is 2,466 square feet, and the list price is $499,900. While the remarks emphasize the quality of the building and parking, potential buyers should review the space directly to confirm layout and condition for their specific operational needs.
Key Highlights
- Warehouse/flex space for sale in Idaho Falls
- Built in 1978
- On‑site parking available
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
$15,205
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
3.04%
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%
$304,100
$304.1K
Cap Rate 7%
$217,214
$217.2K
Cap Rate 9%
$168,944
$168.9K
Market Conditions
NOI Build-Up for 2,466 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
$25.2K $10.20/SF
− Vacancy
−$1.8K −$0.71/SF
EGI
$23.4K $9.49/SF
− OpEx
−$8.2K −$3.32/SF
NOI
$15.2K $6.17/SF
Area
Bonneville County, ID
Vacancy
7.00%
Lease Rate
$10.20 /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%
$304,100
Cap Rate 7%
$217,214
Cap Rate 9%
$168,944
Alternative Uses
Best Use
Flex RnD
$217.2K
$190.1K – $253.4K
NOI $15,205 @ 7.0% cap · market cap 3.04%
Second Best
Industrial
$145.0K
$126.9K – $169.2K
NOI $10,150 @ 7.0% cap · market cap 2.03%
Theoretical Best
Office A
$544.8K
$476.7K – $635.6K
NOI $38,138 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
111
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 83402, ID
28,452
Population
11,983
Households
2.4
Avg Household Size
34
Median Age
31%
College-Educated
92%
High-School Grad
171.0 sq mi
ZIP Area
166
Density / Sq Mi
$72,064
Median Household Income
$35,593
Median Earnings
$904
Median Rent
$301,400
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 - Warehouse/flex space with on-site parking, offered for sale in Idaho Falls.
Where is this flex space located?
The property is located at 1378 S Grizzly Avenue Idaho Falls, ID.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Warehouse/flex space for sale in Idaho Falls; Built in 1978; On‑site parking available
