Nampa Apartments - 100%
For Sale
$3,265,000
16090 North Merchant Way, Nampa, ID 83687
Apartment building in Nampa, Idaho, currently 100% leased.
Property Size12,241 SF
Price / SF$266.73
Days on Market177
Property Features for 16090 North Merchant Way
General Information
Standard status
Active
Size
12,241 SF
Property subtype
Residential Income / Apartment
Net Operating Income
$169,938
Taxes and HOA fees
Annual Taxes
$21,616
Amenities
Central Air, All Units
Forced Air, Natural Gas, Yes
Unit 1 Separate Meter, Unit 2 Separate Meter
Laminate
Disposal (All Units), Stove/Range (All Units), Refrigerator (All Units), Washer/Dryer (All Units)
4
Washer/Dryer Hookups (All Units)
Yes
3
Composition
Frame, Wood Siding
Building Details
Year Built
2021
Listing Agency:
KW Commercial
(208) 412-4771
Listed By:
Tricia Callies · License #AB18477
(208) 412-4771
Source:
Compass
Added: Mar 8
Changed: Aug 31
Last Checked: Aug 30 at 11:35PM
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 KW Commercial
Investment Insights
Based on property information with market context.
This apartment building, located in Nampa, Idaho, is currently 100% leased. The property encompasses a total size of 12241 square feet. It is classified as an apartment building, multifamily property, and residential income property.
Key Highlights
- 100% Leased
- Built in 2021
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
$120,628
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
3.69%
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%
$2,412,560
$2.4M
Cap Rate 7%
$1,723,257
$1.7M
Cap Rate 9%
$1,340,311
$1.3M
Market Conditions
NOI Build-Up for 12,241 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
$232.1K $18.96/SF
− Vacancy
−$12.8K −$1.04/SF
EGI
$219.3K $17.92/SF
− OpEx
−$98.7K −$8.06/SF
NOI
$120.6K $9.85/SF
Area
Nampa, ID
Vacancy
5.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
45.00%
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%
$2,412,560
Cap Rate 7%
$1,723,257
Cap Rate 9%
$1,340,311
Alternative Uses
Best Use
Apartment 5plus
$1.72M
$1.51M – $2.01M
NOI $120,628 @ 7.0% cap · market cap 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.10M
$2.71M – $3.61M
NOI $216,754 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
66
Businesses Nearby
Explore this area
Business Placement
Demographics for 83687, ID
37,254
Population
14,484
Households
2.6
Avg Household Size
33
Median Age
27%
College-Educated
91%
High-School Grad
49.4 sq mi
ZIP Area
754
Density / Sq Mi
$72,294
Median Household Income
$40,328
Median Earnings
$1,416
Median Rent
$369,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Apartment building in Nampa, Idaho, currently 100% leased.
Where is this apartment building located?
The property is located at 16090 North Merchant Way Nampa, ID.
What is the asking price?
The asking price for this property is $3,265,000.
What are key features of this property?
This property features: 100% Leased; Built in 2021
