Corner Office Building with Separate
For Sale
$320,000
202 3rd St, Melba, ID 83641
Four rooms include a kitchen, bathroom, and a separate exterior entrance.
Property Size1,092 SF
Lot Size0.15 Acres
Price / SF$293.04
Days on Market33
Property Features for 202 3rd St
General Information
Standard status
Active
Size
1,092 SF
Lot size
0.15 Acres
Property subtype
Commercial
Additional Details
Corner Location
Yes
Amenities
Garage: 1 - 5 Spaces
1 - 5 Spaces
Building Details
Year Built
1942
Buildings
1
Building Size
1,092 SF
Listing Agency:
Homes of Idaho-Newell Realty Group
Listed By:
Gary Todd
(208) 859-9892
Source:
Clearwaterproperties
Added: Aug 3
Changed: Sep 2
Last Checked: Sep 4 at 6:00AM
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 Homes of Idaho-Newell Realty Group
Investment Insights
Based on property information with market context.
This 1,092-square-foot office property occupies 0.15 acres and was built in 1942. The layout includes three private rooms, a bathroom, a kitchen, and a fourth room with its own separate entrance. The additional room can serve as office or storage space based on the stated property configuration.
Located at 202 3rd St in Melba, the building is positioned on a corner parcel. Boise Airport is approximately 40 minutes away, while Nampa and a hospital are approximately 20 minutes away. Stated acceptable uses include daycare, automotive services, office, medical, boarding and rooming house, motel, retail, and personnel service use.
Located at 202 3rd St in Melba, the building is positioned on a corner parcel. Boise Airport is approximately 40 minutes away, while Nampa and a hospital are approximately 20 minutes away. Stated acceptable uses include daycare, automotive services, office, medical, boarding and rooming house, motel, retail, and personnel service use.
Key Highlights
- 1,092‑square‑foot office building on 0.15 acres
- Three private rooms plus a fourth room with a separate entrance
- Kitchen and bathroom included
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
$15,135
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
4.73%
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%
$302,700
$302.7K
Cap Rate 7%
$216,214
$216.2K
Cap Rate 9%
$168,167
$168.2K
Market Conditions
NOI Build-Up for 1,092 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
$22.9K $21.00/SF
− Vacancy
−$2.8K −$2.52/SF
EGI
$20.2K $18.48/SF
− OpEx
−$5.0K −$4.62/SF
NOI
$15.1K $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%
$302,700
Cap Rate 7%
$216,214
Cap Rate 9%
$168,167
Alternative Uses
Best Use
Office B
$216.2K
$189.2K – $252.3K
NOI $15,135 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$290.9K
$254.5K – $339.3K
NOI $20,360 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
30
Businesses Nearby
Explore this area
Business Placement
Demographics for 83641, ID
3,627
Population
1,397
Households
2.6
Avg Household Size
40
Median Age
21%
College-Educated
85%
High-School Grad
227.1 sq mi
ZIP Area
16
Density / Sq Mi
$81,823
Median Household Income
$40,341
Median Earnings
$1,079
Median Rent
$414,700
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?
Office units - Four rooms include a kitchen, bathroom, and a separate exterior entrance.
Where is this office units located?
The property is located at 202 3rd St Melba, ID.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: 1,092‑square‑foot office building on 0.15 acres; Three private rooms plus a fourth room with a separate entrance; Kitchen and bathroom included
