Single-Tenant Medical Office
For Sale
Contact for pricing
1902 S 10th Ave., Caldwell, ID 83605
Single-tenant medical office building totaling 4,544 SF, 100% occupied under a Triple Net lease.
Property Size4,544 SF
Price / SF$217.43
Days on Market118
Property Features for 1902 S 10th Ave.
General Information
Standard status
Active
Size
4,544 SF
Class
B
Property subtype
Office, Land
Zoning
H-D
Occupancy
100%
Lease Type
NNN
Investment Type
Owner/User
Building Details
Tenancy
Single
Listing Agency:
NAI Select
Listed By:
Ryan Brodien · License #ID 48391
Source:
Crexi
Added: May 12
Changed: Sep 2
Last Checked: Sep 6 at 12:34PM
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 NAI Select
Investment Insights
Based on property information with market context.
This single-tenant medical office building totals 4,544 SF and is 100% occupied by Keplr Vision. The property is operated under a fully executed Triple Net lease.
The building is located in Caldwell, Idaho at 1902 S. 10th Ave., and is described as being within close proximity to the downtown area. Nearby references include Indian Creek Plaza and the College of Idaho campus.
The property is zoned H-D, which supports office or office building development opportunities as presented in the offering materials.
The building is located in Caldwell, Idaho at 1902 S. 10th Ave., and is described as being within close proximity to the downtown area. Nearby references include Indian Creek Plaza and the College of Idaho campus.
The property is zoned H-D, which supports office or office building development opportunities as presented in the offering materials.
Key Highlights
- Single‑tenant medical office building totaling 4,544 SF in Caldwell, Idaho
- 100% occupied by Keplr Vision under a fully executed Triple Net (NNN) lease
- Single‑tenant setup for a medical/office use in a dedicated property configuration
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
$62,980
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
6.37%
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%
$1,259,600
$1.3M
Cap Rate 7%
$899,714
$899.7K
Cap Rate 9%
$699,778
$699.8K
Market Conditions
NOI Build-Up for 4,544 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
$95.4K $21.00/SF
− Vacancy
−$11.5K −$2.52/SF
EGI
$84.0K $18.48/SF
− OpEx
−$21.0K −$4.62/SF
NOI
$63.0K $13.86/SF
Area
Canyon County, ID
Vacancy
12.00%
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%
$1,259,600
Cap Rate 7%
$899,714
Cap Rate 9%
$699,778
Alternative Uses
Best Use
Office B
$899.7K
$787.3K – $1.05M
NOI $62,980 @ 7.0% cap · market cap 6.37%
Second Best
Healthcare Medical
$821.4K
$718.8K – $958.3K
NOI $57,500 @ 7.0% cap · market cap 5.82%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,721 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
772
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 83605, ID
38,561
Population
14,197
Households
2.7
Avg Household Size
32
Median Age
14%
College-Educated
80%
High-School Grad
24.6 sq mi
ZIP Area
1,568
Density / Sq Mi
$60,657
Median Household Income
$31,806
Median Earnings
$973
Median Rent
$300,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Single-tenant medical office building totaling 4,544 SF, 100% occupied under a Triple Net lease.
Where is this medical office space located?
The property is located at 1902 S 10th Ave. Caldwell, ID.
What is the asking price?
The asking price for this property is $988,000.
What are key features of this property?
This property features: Single‑tenant medical office building totaling 4,544 SF in Caldwell, Idaho; 100% occupied by Keplr Vision under a fully executed Triple Net (NNN) lease; Single‑tenant setup for a medical/office use in a dedicated property configuration
