Hayden Flex/Industrial/Office
For Sale
Contact for pricing
15223 N Government Way, Hayden, ID
Versatile 5.91-acre property with modern office and warehouse buildings.
Property Size19,040 SF
Lot Size5.91 Acres
Price / SF$236.34
Days on Market262
Property Features for 15223 N Government Way
General Information
Standard status
Active
Size
19,040 SF
Lot size
5.91 Acres
Property subtype
INDUSTRIAL
Properties For Sale
at 15223 N Government Way Contact us- Size
- 19,040 SF
- Type
- INDUSTRIAL
- Lease Type
- NNN
- Availability
- AVAILABLE
Industrial/Flex Site
Located on Government Way with 890 feet of prime frontage along Highway 95, this...
show more
Contact us
Listing Agency:
Coldwell Banker Commercial
(208) 704-3832
Listed By:
Rob Kannapien · License #SP26107
(208) 704-3832
Source:
Moodyscre
Added: Nov 23, 2025
Changed: Aug 8
Last Checked: Aug 8 at 12:04PM
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 Coldwell Banker Commercial
Investment Insights
Based on property information with market context.
This 5.91-acre parcel is located on Government Way in Hayden, Idaho, featuring 890 feet of frontage along Highway 95. The property includes a 7,040 square foot office building and a 12,000 square foot warehouse, both constructed in 2017. The office building features 2x6 stick frame construction, steel siding, and a steel roof. Interior amenities include high-speed fiber optic internet, a security alarm system, 13 private offices, a conference room, a breakroom, dual HVAC climate-controlled spaces, and single-phase 200-amp electrical service. The warehouse is constructed with steel and 8-inch-thick exterior walls, and includes R-30 insulation, R-21 fiberglass insulation, six 14x14-foot roll-up doors, gas heaters, a built-in pressure washer, and single-phase 400-amp electrical service. The north side of the lot is fully fenced and secured, offering gravel storage. The site is suitable for flex, industrial, or office use, combining modern construction with functionality.
Key Highlights
- Prime location on Government Way with 890 feet of frontage on Highway 95 in Hayden, Idaho.
- Includes a 7,040 SF office building and a 12,000 SF warehouse, both built in 2017.
- High‑end office amenities:** high‑speed fiber optic internet, security system, 13 private offices, conference room, and dual HVAC.
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
$206,232
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
4.58%
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%
$4,124,640
$4.1M
Cap Rate 7%
$2,946,171
$2.9M
Cap Rate 9%
$2,291,467
$2.3M
Market Conditions
NOI Build-Up for 19,040 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
$331.3K $17.40/SF
− Vacancy
−$56.3K −$2.96/SF
EGI
$275.0K $14.44/SF
− OpEx
−$68.7K −$3.61/SF
NOI
$206.2K $10.83/SF
Area
Kootenai County, ID
Vacancy
17.00%
Lease Rate
$17.40 /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%
$4,124,640
Cap Rate 7%
$2,946,171
Cap Rate 9%
$2,291,467
Alternative Uses
Best Use
Office B
$2.95M
$2.58M – $3.44M
NOI $206,232 @ 7.0% cap · market cap 4.58%
Second Best
Warehouse
$1.97M
$1.73M – $2.30M
NOI $138,082 @ 7.0% cap · market cap 3.07%
Theoretical Best
Office A
$4.13M
$3.61M – $4.82M
NOI $289,119 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Store-It — 14855 N Government Wy, Hayden, ID 83835
- Highway 95 Storage — 14650 N Vernon J Baker Blvd, Rathdrum, ID 83858
Frequently Asked Questions
What type of property is this?
Warehouse - Versatile 5.91-acre property with modern office and warehouse buildings.
Where is this warehouse located?
The property is located at 15223 N Government Way Hayden, ID.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Prime location on Government Way with **890 feet of frontage on Highway 95** in Hayden, Idaho.; Includes a **7,040 SF office building and a 12,000 SF warehouse**, both built in 2017.; High‑end office amenities:** high‑speed fiber optic internet, security system, 13 private offices, conference room, and dual HVAC.
