Two-Story Medical-Ready Office
For Sale
$1,220,000
1665 Hill Rd, Boise, ID 83702
Flexible two-story office with private offices, cubicles, and ADA access, previously configured for orthodontic care.
Property Size2,732 SF
Price / SF$446.56
Days on Market84
Property Features for 1665 Hill Rd
General Information
Standard status
Active
Size
2,732 SF
Property subtype
Commercial
Building Details
Stories
2
Listing Agency:
TOK Commercial
(208) 947-0834
Listed By:
Mike Ballantyne
Source:
Clearwaterproperties
Added: Jun 2
Changed: Aug 23
Last Checked: Aug 23 at 7:19AM
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 TOK Commercial
Investment Insights
Based on property information with market context.
This two-story professional office property is designed to support a range of office and medical users, with a flexible layout that includes private offices and cubicle areas. The building was previously operated as an orthodontic office, and it also features lower-level living quarters that may provide opportunities for office conversion depending on a user’s requirements. An ADA accessible ramp is in place, supporting accessibility for patients, employees, and visitors.
Located in Boise’s highly desirable North End, the property is positioned for both visibility and practical daily access. Its configuration is geared toward health-oriented and professional service operations that benefit from a central, easy-to-serve setting.
For buyers or operators seeking a move-in ready foundation for healthcare or professional services, the existing medical office setup provides a straightforward starting point. The combination of multi-room office space, accessible entry, and adaptable lower-level area makes it well-suited for medical users as well as administrative and service-focused organizations looking for a flexible, two-story footprint.
Located in Boise’s highly desirable North End, the property is positioned for both visibility and practical daily access. Its configuration is geared toward health-oriented and professional service operations that benefit from a central, easy-to-serve setting.
For buyers or operators seeking a move-in ready foundation for healthcare or professional services, the existing medical office setup provides a straightforward starting point. The combination of multi-room office space, accessible entry, and adaptable lower-level area makes it well-suited for medical users as well as administrative and service-focused organizations looking for a flexible, two-story footprint.
Key Highlights
- Two‑story professional office building designed for office and medical users
- Previously configured as an orthodontic (medical) office, suited for healthcare or professional services
- Flexible layout with private offices and cubicle areas
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
$37,005
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
3.03%
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%
$740,100
$740.1K
Cap Rate 7%
$528,643
$528.6K
Cap Rate 9%
$411,167
$411.2K
Market Conditions
NOI Build-Up for 2,732 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
$57.4K $21.00/SF
− Vacancy
−$8.0K −$2.94/SF
EGI
$49.3K $18.06/SF
− OpEx
−$12.3K −$4.52/SF
NOI
$37.0K $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%
$740,100
Cap Rate 7%
$528,643
Cap Rate 9%
$411,167
Alternative Uses
Best Use
Office B
$528.6K
$462.6K – $616.8K
NOI $37,005 @ 7.0% cap · market cap 3.03%
Second Best
Healthcare Medical
$493.9K
$432.1K – $576.2K
NOI $34,571 @ 7.0% cap · market cap 2.83%
Theoretical Best
Office A
$754.5K
$660.2K – $880.3K
NOI $52,815 @ 7.0% cap · market cap 4.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
267
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
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 - Flexible two-story office with private offices, cubicles, and ADA access, previously configured for orthodontic care.
Where is this office building located?
The property is located at 1665 Hill Rd Boise, ID.
What is the asking price?
The asking price for this property is $1,220,000.
What are key features of this property?
This property features: Two‑story professional office building designed for office and medical users; Previously configured as an orthodontic (medical) office, suited for healthcare or professional services; Flexible layout with private offices and cubicle areas
