Restored Victorian Office
For Sale
$898,888
1517 W Jefferson, Boise, ID 83702
Commercial Sale, Boise, ID
Property Size1,992 SF
Lot Size0.14 Acres
Price / SF$451.25
Days on Market42
Property Features for 1517 W Jefferson
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
City of Boise-MX-5
Parking
5
Exterior features
Paved Outside Area
Accessibility
Accessible Approach with Ramp
Lot features
Standard Lot 6000-9999 S F, Lawn Sprinklers, On City Bus Route
Directions
From State St & 16th St, S on 16th St, E on Jefferson to property (on the right)
Standard status
Active
APN
R1013008066
Size
1,992 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Description
LOT 8 BLK 121 B C O T
Tax Annual Amount
5301
Legal Description
LOT 8 BLK 121 B C O T
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Amenities
covered front porch
mature landscaping
fenced yard
flagstone back patio
ADA-accessible ramp
kitchenette
Building Details
Year built
1905
Floors in Building
2
Flooring type
Wood
Building materials
Frame, Wood Siding
Roof type
Composition
Listing Agency:
Keller Williams Realty Boise
(208) 672-9000
Listed By:
Jill Giese · License #SP32228
(208) 327-2127
Added: Aug 3
Changed: Sep 13
Last Checked: Sep 13 at 4:06PM
MLS# 98996194
Copyright © 2026 Intermountain Multiple Listing Service. 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 1905, this restored frame office property combines original architectural character with a practical professional layout. The 1,992-square-foot building includes five private offices, a reception area, two waiting areas, a conference room, kitchenette, two restrooms, and substantial storage. Wood flooring, large windows, wood siding, natural-gas forced-air heat, and central air support the interior environment. An accessible ramp serves the primary entry and conference room.
Exterior features include a covered front porch, mature landscaping, a fenced yard, and a flagstone rear patio. Five off-street parking spaces sit behind the building with alley access. The property is currently fully occupied by Jefferson Street Counseling & Consulting, which has operated there since 2003; leases are month-to-month, and the tenants are willing to remain. MX-5 zoning applies.
Exterior features include a covered front porch, mature landscaping, a fenced yard, and a flagstone rear patio. Five off-street parking spaces sit behind the building with alley access. The property is currently fully occupied by Jefferson Street Counseling & Consulting, which has operated there since 2003; leases are month-to-month, and the tenants are willing to remain. MX-5 zoning applies.
Key Highlights
- 1,992‑square‑foot office building constructed in 1905
- Five private offices plus reception, two waiting areas, conference room, kitchenette, two restrooms, and storage
- Currently 100%-occupied by Jefferson Street Counseling & Consulting, operating at the property since 2003
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
Healthcare Medical
$360.1K
$315.1K – $420.1K
NOI $25,207 @ 7.0% cap · market cap 2.80%
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
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Open 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Boise, ID
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Historic professional office setting with private rooms, client areas, original details, and 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: 1,992‑square‑foot office building constructed in 1905; Five private offices plus reception, two waiting areas, conference room, kitchenette, two restrooms, and storage; Currently 100%-occupied by Jefferson Street Counseling & Consulting, operating at the property since 2003
