Versatile Office Property in
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1740 North Milwaukee Street, Boise, ID 83704
Office property suitable for single or multi-tenant occupancy.
Property Size3,120 SF
Price / SF$279.17
Days on Market182
Property Features for 1740 North Milwaukee Street
General Information
Standard status
Active
Size
3,120 SF
Class
B
Property subtype
Office
Zoning
R-2
Investment Type
Owner/User
Building Details
Year Built
2006
Tenancy
Multi
Listing Agency:
TOK Commercial
(208) 890-2209
Listed By:
Michael Ballantyne · License #ID DB18541
Source:
Crexi
Added: Feb 24
Changed: Aug 16
Last Checked: Aug 23 at 8:12PM
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.
The property at 1740 North Milwaukee Street is a versatile office space suitable for either single-tenant or multi-tenant occupancy. This location in Boise offers excellent visibility and is well-suited for a medical office, dental practice, therapy center, or related healthcare services. The property benefits from its location along a primary retail and services corridor, supported by nearby residential and retail areas. Strong consumer traffic contributes to a built-in customer base and employee conveniences. The property size is 3120 square feet.
Key Highlights
- Strategic Boise location with excellent visibility.
- Versatile office property suited for single‑tenant or multi‑tenant occupancy.
- Ideal for medical office, dental practice, therapy center, or related healthcare services.
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
$42,260
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
4.85%
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%
$845,200
$845.2K
Cap Rate 7%
$603,714
$603.7K
Cap Rate 9%
$469,556
$469.6K
Market Conditions
NOI Build-Up for 3,120 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
$65.5K $21.00/SF
− Vacancy
−$9.2K −$2.94/SF
EGI
$56.3K $18.06/SF
− OpEx
−$14.1K −$4.52/SF
NOI
$42.3K $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%
$845,200
Cap Rate 7%
$603,714
Cap Rate 9%
$469,556
Alternative Uses
Best Use
Office B
$603.7K
$528.3K – $704.3K
NOI $42,260 @ 7.0% cap · market cap 4.85%
Second Best
Healthcare Medical
$564.0K
$493.5K – $658.0K
NOI $39,480 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$861.7K
$754.0K – $1.01M
NOI $60,316 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
941
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 83704, ID
42,430
Population
17,776
Households
2.4
Avg Household Size
37
Median Age
32%
College-Educated
92%
High-School Grad
8.8 sq mi
ZIP Area
4,822
Density / Sq Mi
$70,806
Median Household Income
$37,201
Median Earnings
$1,363
Median Rent
$354,400
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?
Medical Office Space - Office property suitable for single or multi-tenant occupancy.
Where is this medical office space located?
The property is located at 1740 North Milwaukee Street Boise, ID.
What is the asking price?
The asking price for this property is $871,000.
What are key features of this property?
This property features: Strategic Boise location with excellent visibility.; Versatile office property suited for single‑tenant or multi‑tenant occupancy.; Ideal for medical office, dental practice, therapy center, or related healthcare services.
