Live-Work Property with Paved
New
For Sale
$575,000
1502 Broadway Street, Idaho Falls, ID 83403
Commercial Sale, Idaho Falls, ID
Property Size1,568 SF
Price / SF$366.71
Days on Market2
Property Features for 1502 Broadway Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
General Zoning: If Limited Busines, Specific Zoning: Idaho Falls-C1-Limited Busines
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Basement
Basement
Unfinished
Lot features
High Traffic, Interstate Exit/ Access
Directions
Located on the corner of West Broadway and Saturn Ave.
Standard status
Active
APN
RPA5080001001O
Size
1,568 SF
Taxes and HOA fees
Tax Year
2019
Tax Description
Lot 1 Blk 1 Morgan's
Tax Annual Amount
3100
Legal Description
Lot 1 Blk 1 Morgan's
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
dedicated reception area
living area
full kitchen
bathroom
two bedrooms
unfinished basement
paved private lot
Building Details
Year built
1949
Floors in Building
1
Building materials
Wood Siding
Listing Agency:
Venture One Properties
(208) 542-7979
Listed By:
Shane Murphy · License #DB24210
(208) 521-4564
Added: Sep 29
Last Checked: Sep 30 at 8:06PM
MLS# 2189552
Copyright © 2026 Snake River Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1949, this 1,568-square-foot live-work property has a main-level reception area, living space, full kitchen, bathroom, and two bedrooms. The bedrooms can serve as private offices, and an unfinished basement provides storage. Public water and sewer serve the property; the exterior has wood siding.
A paved private lot surrounds the building at West Broadway Street and Skyline Drive. The property is currently used for used auto sales and sits near downtown Idaho Falls.
A paved private lot surrounds the building at West Broadway Street and Skyline Drive. The property is currently used for used auto sales and sits near downtown Idaho Falls.
Key Highlights
- 1,568‑square‑foot building constructed in 1949
- Main floor includes reception area, living space, full kitchen, bathroom, and two bedrooms
- Unfinished basement provides storage
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
$16,991
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
2.95%
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%
$339,820
$339.8K
Cap Rate 7%
$242,729
$242.7K
Cap Rate 9%
$188,789
$188.8K
Market Conditions
NOI Build-Up for 1,568 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
$26.3K $16.80/SF
− Vacancy
−$3.7K −$2.35/SF
EGI
$22.7K $14.45/SF
− OpEx
−$5.7K −$3.61/SF
NOI
$17.0K $10.84/SF
Area
Bonneville County, ID
Vacancy
14.00%
Lease Rate
$16.80 /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%
$339,820
Cap Rate 7%
$242,729
Cap Rate 9%
$188,789
Alternative Uses
Best Use
Office B
$242.7K
$212.4K – $283.2K
NOI $16,991 @ 7.0% cap · market cap 2.95%
Second Best
Retail
$203.3K
$177.9K – $237.1K
NOI $14,228 @ 7.0% cap · market cap 2.47%
Theoretical Best
Office A
$346.4K
$303.1K – $404.2K
NOI $24,250 @ 7.0% cap · market cap 4.22%
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
518
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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?
Live-work space - The main floor combines reception space, residential rooms, a kitchen, and a bathroom, with additional storage below.
Where is this live-work space located?
The property is located at 1502 Broadway Street Idaho Falls, ID.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 1,568‑square‑foot building constructed in 1949; Main floor includes reception area, living space, full kitchen, bathroom, and two bedrooms; Unfinished basement provides storage
