Multi-Suite Medical Office
For Sale
$1,690,000
1540 Elk Creek Dr, Idaho Falls, ID 83404
Versatile office property with reception areas, private rooms, procedure space, storage, and parking in a medical and business complex.
Property Size5,887 SF
Price / SF$287.07
Days on Market62
Property Features for 1540 Elk Creek Dr
General Information
Standard status
Active
Size
5,887 SF
Additional Details
Office Units
2
Building Details
Year Built
2004
Buildings
1
Tenancy
Multi
Listing Agency:
Keller Williams Realty East Idaho
Listed By:
Ryan Webster · License #30269
(208) 529-8888
Source:
Griderpeterson
Added: Aug 15
Changed: Oct 14
Last Checked: Oct 7 at 1:04PM
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 Keller Williams Realty East Idaho
Investment Insights
Based on property information with market context.
Located at 1540 Elk Creek Dr in Idaho Falls, this 5,887-square-foot medical office property was built in 2004 and includes two suites with distinct layouts. Suite 200 features an open reception and waiting area, built-in reception and workstations, a second waiting area or office, up to 9 additional offices or patient rooms, a former surgical room with wash area, and 3 restrooms. Its lower level adds a gathering room, supply and storage areas, laundry, a locker-equipped changing room, and another restroom.
Suite 100 includes reception and administrative areas, up to 6 offices, 2 restrooms, a procedure room, and additional waiting space. The property offers on-site parking and access within a busy medical and business complex. Suite 100 and Suite 200 are currently leased.
Suite 100 includes reception and administrative areas, up to 6 offices, 2 restrooms, a procedure room, and additional waiting space. The property offers on-site parking and access within a busy medical and business complex. Suite 100 and Suite 200 are currently leased.
Key Highlights
- 5,887‑square‑foot medical office property at 1540 Elk Creek Dr, Idaho Falls, ID 83404
- Built in 2004 with two separately configured suites
- Suite 200 includes up to 9 offices or patient rooms and a former surgical room with wash area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,355
Cap Rate
4.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,387,100
$1.4M
Cap Rate 7%
$990,786
$990.8K
Cap Rate 9%
$770,611
$770.6K
Market Conditions
NOI Build-Up for 5,887 SF
Gross rent
$123.6K $21.00/SF
− Vacancy
−$8.0K −$1.37/SF
EGI
$115.6K $19.64/SF
− OpEx
−$46.2K −$7.85/SF
NOI
$69.4K $11.78/SF
Area
Bonneville County, ID
Vacancy
6.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,387,100
Cap Rate 7%
$990,786
Cap Rate 9%
$770,611
Alternative Uses
Best Use
Healthcare Medical
$990.8K
$866.9K – $1.16M
NOI $69,355 @ 7.0% cap · market cap 4.10%
Second Best
Office B
$911.3K
$797.4K – $1.06M
NOI $63,792 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,046 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
598
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 83404, ID
25,491
Population
9,606
Households
2.7
Avg Household Size
37
Median Age
35%
College-Educated
92%
High-School Grad
25.0 sq mi
ZIP Area
1,020
Density / Sq Mi
$79,211
Median Household Income
$36,802
Median Earnings
$1,013
Median Rent
$355,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Medical Office Space - Versatile office property with reception areas, private rooms, procedure space, storage, and parking in a medical and business complex.
Where is this medical office space located?
The property is located at 1540 Elk Creek Dr Idaho Falls, ID.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: 5,887‑square‑foot medical office property at 1540 Elk Creek Dr, Idaho Falls, ID 83404; Built in 2004 with two separately configured suites; Suite 200 includes up to 9 offices or patient rooms and a former surgical room with wash area
