Flex Property with Office and
For Sale
$2,790,000
1463 Commerce Way, Idaho Falls, ID 83401
Three-building commercial asset combines administrative space with shop facilities.
Property Size23,916 SF
Lot Size1.87 Acres
Price / SF$116.66
Days on Market84
Property Features for 1463 Commerce Way
General Information
Standard status
Active
Size
23,916 SF
Lot size
1.87 Acres
Occupancy
70%
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Warehouse Space
12,034 SF
Office Build-Out
11,792 SF
Building Details
Year Built
1996
Buildings
3
Listing Agency:
Venture One Properties
Listed By:
Shane Murphy · License #DB24210
(208) 542-7979
Source:
Noplacelikeidaho
Added: Jul 24
Changed: Oct 9
Last Checked: Oct 7 at 2:16PM
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 Venture One Properties
Investment Insights
Based on property information with market context.
Built in 1996, the property comprises three maintained buildings totaling 23,916 square feet on 1.869 acres. The improvements include an 11,792-square-foot, two-story office building with 30 offices and conference areas, along with 12,034 square feet of shop and warehouse space. The configuration supports light industrial and service-oriented operations.
Approximately 70% of the property is leased, with lease arrangements that allow relatively short extension or termination decisions. This provides existing occupancy while retaining flexibility for an owner-user to occupy some or all of the improvements. The site is located at 1463 Commerce Way in Idaho Falls, with access to Highway 20, Highway 26, and I-15.
Approximately 70% of the property is leased, with lease arrangements that allow relatively short extension or termination decisions. This provides existing occupancy while retaining flexibility for an owner-user to occupy some or all of the improvements. The site is located at 1463 Commerce Way in Idaho Falls, with access to Highway 20, Highway 26, and I-15.
Key Highlights
- 23,916 SF across three buildings on 1.869 acres
- 11,792 SF two‑story office building with 30 offices and conference areas
- 12,034 SF of shop and warehouse space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$147,464
Cap Rate
5.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,949,280
$2.9M
Cap Rate 7%
$2,106,629
$2.1M
Cap Rate 9%
$1,638,489
$1.6M
Market Conditions
NOI Build-Up for 23,916 SF
Gross rent
$243.9K $10.20/SF
− Vacancy
−$17.1K −$0.71/SF
EGI
$226.9K $9.49/SF
− OpEx
−$79.4K −$3.32/SF
NOI
$147.5K $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 Rate 5%
$2,949,280
Cap Rate 7%
$2,106,629
Cap Rate 9%
$1,638,489
Alternative Uses
Best Use
Office B
$3.70M
$3.24M – $4.32M
NOI $259,154 @ 7.0% cap · market cap 9.29%
Second Best
Flex RnD
$2.11M
$1.84M – $2.46M
NOI $147,464 @ 7.0% cap · market cap 5.29%
Theoretical Best
Office A
$5.28M
$4.62M – $6.16M
NOI $369,875 @ 7.0% cap · market cap 13.26%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
70%
Occupancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
143
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 83401, ID
47,114
Population
16,026
Households
2.9
Avg Household Size
31
Median Age
30%
College-Educated
90%
High-School Grad
197.3 sq mi
ZIP Area
239
Density / Sq Mi
$75,870
Median Household Income
$35,293
Median Earnings
$1,132
Median Rent
$307,700
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?
Flex space - Three-building commercial asset combines administrative space with shop facilities.
Where is this flex space located?
The property is located at 1463 Commerce Way Idaho Falls, ID.
What is the asking price?
The asking price for this property is $2,790,000.
What are key features of this property?
This property features: 23,916 SF across three buildings on 1.869 acres; 11,792 SF two‑story office building with 30 offices and conference areas; 12,034 SF of shop and warehouse space
