Office and Warehouse Flex
For Sale
Contact for pricing
Pending
15223 N Government Way, Hayden, ID 83835
A 2017-built office and warehouse flex site with multiple roll-up doors, fiber internet, and secured fenced storage.
Property Size19,040 SF
Lot Size5.91 Acres
Days on Market71
Property Features for 15223 N Government Way
General Information
Standard status
Pending
Size
19,040 SF
Lot size
5.91 Acres
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Amenities
high-speed fiber optic internet
security alarm system
13 private offices
conference room
breakroom
dual HVAC climate-controlled spaces
gas heaters
built-in pressure washer
Building Details
Year Built
2017
Listing Agency:
Coldwell Banker Commercial
(208) 765-2222
Listed By:
Rob Kannapien · License #26107
(208) 704-3832
Source:
Moodyscre
Added: Jul 2
Changed: Sep 3
Last Checked: Sep 9 at 11:32AM
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 for-sale flex property includes a 7,040 SF office building and a 12,000 SF warehouse, both constructed in 2017. The office features 13 private offices, a conference room, breakroom, and dual HVAC climate-controlled spaces, along with high-speed fiber optic internet, a security alarm system, and single-phase 200-amp electrical service. The warehouse is built with steel and 8-inch-thick exterior walls with insulation, and includes six 14x14-foot roll-up doors, gas heaters, a built-in pressure washer, and single-phase 400-amp electrical service.
The property sits on Government Way with 890 feet of frontage along Highway 95. The north side of the lot is fully fenced and secured, with gravel storage provided on-site.
The overall site configuration is designed to support office and industrial operations together, offering modern construction, functional loading with roll-up doors, and dedicated secured exterior storage space.
The property sits on Government Way with 890 feet of frontage along Highway 95. The north side of the lot is fully fenced and secured, with gravel storage provided on-site.
The overall site configuration is designed to support office and industrial operations together, offering modern construction, functional loading with roll-up doors, and dedicated secured exterior storage space.
Key Highlights
- 5.91‑acre Hayden, Idaho parcel with 890 ft of frontage along Highway 95 on Government Way
- 2017‑built 7,040 SF office with 13 private offices, conference room, breakroom, and dual HVAC climate‑controlled spaces
- Office includes high‑speed fiber optic internet, security alarm system, and single‑phase 200‑amp electrical service
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
$138,082
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
3.07%
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%
$2,761,640
$2.8M
Cap Rate 7%
$1,972,600
$2.0M
Cap Rate 9%
$1,534,244
$1.5M
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
$171.4K $9.00/SF
− Vacancy
−$8.9K −$0.47/SF
EGI
$162.4K $8.53/SF
− OpEx
−$24.4K −$1.28/SF
NOI
$138.1K $7.25/SF
Area
Kootenai County, ID
Vacancy
5.20%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$2,761,640
Cap Rate 7%
$1,972,600
Cap Rate 9%
$1,534,244
Alternative Uses
Best Use
Warehouse
$1.97M
$1.73M – $2.30M
NOI $138,082 @ 7.0% cap · market cap 3.07%
Second Best
Industrial
$1.62M
$1.42M – $1.90M
NOI $113,714 @ 7.0% cap · market cap 2.53%
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
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Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 83835, ID
23,157
Population
10,110
Households
2.3
Avg Household Size
46
Median Age
33%
College-Educated
95%
High-School Grad
99.4 sq mi
ZIP Area
233
Density / Sq Mi
$86,014
Median Household Income
$43,925
Median Earnings
$1,688
Median Rent
$502,400
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 Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - A 2017-built office and warehouse flex site with multiple roll-up doors, fiber internet, and secured fenced storage.
Where is this flex space 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: 5.91‑acre Hayden, Idaho parcel with 890 ft of frontage along Highway 95 on Government Way; 2017‑built 7,040 SF office with 13 private offices, conference room, breakroom, and dual HVAC climate‑controlled spaces; Office includes high‑speed fiber optic internet, security alarm system, and single‑phase 200‑amp electrical service
