Building Details

Year Built 1942

Buildings 1

Building Size 1,092 SF

Listing Agency: Homes of Idaho-Newell Realty Group

Listed By: Gary Todd Show Phone

Source: Clearwaterproperties

Added: Aug 3 Changed: Oct 21 Last Checked: Oct 20 at 9:45PM

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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

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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.

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 / Yr

$15,135

Cap Rate

4.73%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$302,700 $302.7K

Cap Rate 7%

$216,214 $216.2K

Cap Rate 9%

$168,167 $168.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,092 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $20,360 @ 7.0% cap · market cap 6.36%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Office Units

Suggested Use

Top Pick Building Supply Auto Repair Shop Real Estate Agency Pharmacy (Bike/Boat/Book/etc) Store Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Frequently Asked Questions

What type of property is this?

Office unit - Four rooms include a kitchen, bathroom, and a separate exterior entrance.

Where is this office unit 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