Office Condo with Private
For Sale
$599,000
2-5513 N Glenwood St, Garden City, ID 83704
Flexible layout includes reception areas, storage, and cross-access parking.
Property Size1,937 SF
Price / SF$309.24
Days on Market9
Property Features for 2-5513 N Glenwood St
General Information
Standard status
Active
Size
1,937 SF
Additional Details
Office Units
1
Building Details
Construction
contemporary
Listing Agency:
Lofthus Group
Listed By:
Gerri Kelley
(208) 571-3360
Source:
Exprealty
Added: Sep 1
Changed: Sep 8
Last Checked: Sep 8 at 2:38PM
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 Lofthus Group
Investment Insights
Based on property information with market context.
This 1,937-square-foot office condominium at 2-5513 N Glenwood St in Garden City offers a flexible professional layout. The suite includes two entrances, six private offices that can also serve as treatment rooms, two bathrooms, and two sizable reception areas that may accommodate multiple workstations. Two storage rooms provide additional functional space.
Cross-access parking serves the property, and the tenant is responsible for all utilities. The combination of private rooms, reception areas, storage, and dual access supports a range of professional office configurations without relying on a single layout.
Cross-access parking serves the property, and the tenant is responsible for all utilities. The combination of private rooms, reception areas, storage, and dual access supports a range of professional office configurations without relying on a single layout.
Key Highlights
- 1,937‑square‑foot office condominium in Garden City
- Two entrances provide separate access points
- Six private offices or treatment rooms
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
$26,237
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
4.38%
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%
$524,740
$524.7K
Cap Rate 7%
$374,814
$374.8K
Cap Rate 9%
$291,522
$291.5K
Market Conditions
NOI Build-Up for 1,937 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
$40.7K $21.00/SF
− Vacancy
−$5.7K −$2.94/SF
EGI
$35.0K $18.06/SF
− OpEx
−$8.7K −$4.52/SF
NOI
$26.2K $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%
$524,740
Cap Rate 7%
$374,814
Cap Rate 9%
$291,522
Alternative Uses
Best Use
Office B
$374.8K
$328.0K – $437.3K
NOI $26,237 @ 7.0% cap · market cap 4.38%
Second Best
Healthcare Medical
$350.2K
$306.4K – $408.5K
NOI $24,511 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$534.9K
$468.1K – $624.1K
NOI $37,446 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
823
Businesses Nearby
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 West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Flexible layout includes reception areas, storage, and cross-access parking.
Where is this office units located?
The property is located at 2-5513 N Glenwood St Garden City, ID.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 1,937‑square‑foot office condominium in Garden City; Two entrances provide separate access points; Six private offices or treatment rooms
