Restored Victorian Office
For Sale
$898,888
1517 W Jefferson, Boise, ID 83702
Professional practice layout with private offices, client waiting areas, conference space, and an ADA-accessible main-level entry.
Property Size1,992 SF
Price / SF$451.25
Days on Market8
Property Features for 1517 W Jefferson
General Information
Standard status
Active
Size
1,992 SF
Total Parking Spaces
5
Property subtype
Commercial
Zoning
MX-5
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
covered front porch
mature landscaping
fenced yard
flagstone back patio
ADA-accessible ramp
conference room
kitchenette
Lot Features: Standard Lot 6000-9999 SF, Lawn Sprinklers, On City Bus Route, Lot Size Acres: 0.14, Lot Size Area: 0.14, Lot Size Dimensions: 121x51, Lot Size Square Feet: 6098.4, Lot Size Units: Acres
Fencing: Partial
Tax Annual Amount: 5301, Tax Legal Description: LOT 8 BLK 121 B C O T
Flooring: Wood
Cooling: Central Air, Cooling YN: t
Heating: Forced Air, Natural Gas, Heating YN: t
Business Type: Professional/Office, Lease Amount: 4375, Listing Id: 98996194, Listing Service: Full Service, Listing Terms: Cash, Conventional, List Price: 898888, Mls Status: Active, Standard Status: Active
Parking Features: 1 - 5 Spaces, Parking Total: 5
Above Grade Finished Area Units: Square Feet, Below Grade Finished Area Units: Square Feet, Building Area Total: 1992, Building Area Units: Square Feet, Construction Materials: Frame, Wood Siding, Living Area: 1992, Living Area Units: Square Feet, Stories: 2, Year Built: 1905
Insurance Expense: 1202, Operating Expense Includes: Utilities, Other Expense: 10762
City: Boise, Coordinates: -116.21055907, 43.62227575, Country: US, County Or Parish: Ada, Cross Street: W Jefferson St betw 15th & 16th, Directions: From State St & 16th St, S on 16th St, E on Jefferson to property (on the right), Latitude: 43.62227575, Longitude: -116.21055907, Postal Code: 83702, State Or Province: ID, Street Dir Prefix: W, Street Name: Jefferson, Street Number: 1517, Street Number Numeric: 1517, Unparsed Address: 1517 W Jefferson, Boise ID 83702
Farm Land Area Units: Square Feet, Leasable Area: 1544, Leasable Area Units: Square Feet, Parcel Number: R1013008066, Possible Use: Office Suitable(Office Building), Property Type: Commercial Sale, Road Surface Type: Paved
Electric: 110 Volt, Utilities: Sewer Connected
Water Source: City Service
Accessibility Features: Handicap Access
Exterior Features: Paved Outside Area
Building Details
Year Built
1905
Buildings
1
Construction
Victorian
Tenancy
Single
Owner Occupied
No
Listing Agency:
Keller Williams Realty Boise
(208) 327-2127
Listed By:
Jill Giese · License #SP32434
(208) 327-2127
Source:
Thgboise
Added: Aug 3
Changed: Aug 9
Last Checked: Aug 9 at 4:42AM
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 Keller Williams Realty Boise
Investment Insights
Based on property information with market context.
Built in 1905 and restored for continued professional use, this 1,992-square-foot office building combines historic character with a practical client-facing layout. The interior includes five private offices, a reception area, two waiting areas, a large conference room, kitchenette, two restrooms, and substantial storage. An ADA-accessible ramp provides entry to the main level and conference room. Original architectural elements, large windows, a covered front porch, mature landscaping, a fenced yard, and a flagstone patio contribute to the property’s physical appeal.
The building is located at 1517 W Jefferson in Boise’s North End, near downtown, Hyde Park, Albertsons, and I-184. Five off-street parking spaces sit behind the property with alley access. The property is zoned MX-5 and is currently 100%-occupied under month-to-month tenant leases, with tenants willing to remain.
The building is located at 1517 W Jefferson in Boise’s North End, near downtown, Hyde Park, Albertsons, and I-184. Five off-street parking spaces sit behind the property with alley access. The property is zoned MX-5 and is currently 100%-occupied under month-to-month tenant leases, with tenants willing to remain.
Key Highlights
- Restored 1905 office building with 1,992 square feet
- Five private offices, reception, two waiting areas, and a large conference room
- Currently 100%-occupied with month‑to‑month tenant leases
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
$26,982
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
3.00%
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%
$539,640
$539.6K
Cap Rate 7%
$385,457
$385.5K
Cap Rate 9%
$299,800
$299.8K
Market Conditions
NOI Build-Up for 1,992 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
$41.8K $21.00/SF
− Vacancy
−$5.9K −$2.94/SF
EGI
$36.0K $18.06/SF
− OpEx
−$9.0K −$4.52/SF
NOI
$27.0K $13.54/SF
Area
Ada County, ID
Vacancy
14.00%
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%
$539,640
Cap Rate 7%
$385,457
Cap Rate 9%
$299,800
Alternative Uses
Best Use
Office B
$385.5K
$337.3K – $449.7K
NOI $26,982 @ 7.0% cap · market cap 3.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$550.1K
$481.4K – $641.8K
NOI $38,509 @ 7.0% cap · market cap 4.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,917
Businesses Nearby
Explore this area
Business Placement
Demographics for 83702, ID
23,951
Population
12,771
Households
1.9
Avg Household Size
40
Median Age
61%
College-Educated
97%
High-School Grad
31.4 sq mi
ZIP Area
763
Density / Sq Mi
$82,586
Median Household Income
$48,200
Median Earnings
$1,175
Median Rent
$708,000
Median Home Value
Market
Vacancy Rate% for Office in Boise, ID
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Professional practice layout with private offices, client waiting areas, conference space, and an ADA-accessible main-level entry.
Where is this office building located?
The property is located at 1517 W Jefferson Boise, ID.
What is the asking price?
The asking price for this property is $898,888.
What are key features of this property?
This property features: Restored 1905 office building with 1,992 square feet; Five private offices, reception, two waiting areas, and a large conference room; Currently 100%-occupied with month‑to‑month tenant leases
