Single-Tenant Industrial
For Sale
$850,000
203 Hannibal Street, Caldwell, ID 83605
Commercial Sale, Caldwell, ID
Property Size4,624 SF
Lot Size0.23 Acres
Price / SF$183.82
Days on Market757
Property Features for 203 Hannibal Street
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning description
C-3 General Commercial
Exterior features
Paved Outside Area
Accessibility
Accessible Approach with Ramp
Lot features
10000 S F - .49 Acre
Directions
From Boise, west on I-84, take Exit 28 (Caldwell City Center) north on Illinois Ave. , west on Hannibal to property.
Standard status
Active
APN
R0208101100
Size
4,624 SF
Lot size
0.23 Acres
Utilities
Utilities
Propane
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Building Details
Year built
2024
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
Steel Siding
Roof type
Metal
Listing Agency:
Coldwell Banker Tomlinson · Coldwell Banker Real Estate
(208) 336-3393
Listed By:
Rick Mcgraw · License #AB17400
(208) 880-8889
Added: Aug 13, 2024
Changed: Sep 3
Last Checked: Sep 8 at 5:06PM
MLS# 98920479
Copyright © 2026 Intermountain Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Under construction in Caldwell, this 4,624-square-foot industrial warehouse is designed for single-tenant occupancy. The clear-span warehouse area provides 20 feet of height at the center, with a 12-foot by 12-foot roll-up door for loading access. The floor plan includes one office and one restroom, while concrete flooring, steel siding, and a metal roof provide durable commercial construction. Forced-air natural gas heating and central air conditioning are specified, along with 3-phase power and 200 AMP service.
The property occupies 0.23 acres at 203 Hannibal Street in Caldwell, Canyon County. Completion is scheduled for October 2024, and the building is identified as a 2024 construction project. A paved outside area and an accessible approach with ramp are also included.
The property occupies 0.23 acres at 203 Hannibal Street in Caldwell, Canyon County. Completion is scheduled for October 2024, and the building is identified as a 2024 construction project. A paved outside area and an accessible approach with ramp are also included.
Key Highlights
- 4,624 SF industrial warehouse on 0.23 acres
- Clear‑span warehouse with 20' center height
- One 12' x 12' roll‑up door
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
$47,790
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
5.62%
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%
$955,800
$955.8K
Cap Rate 7%
$682,714
$682.7K
Cap Rate 9%
$531,000
$531.0K
Market Conditions
NOI Build-Up for 4,624 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
$58.3K $12.60/SF
− Vacancy
−$2.0K −$0.44/SF
EGI
$56.2K $12.16/SF
− OpEx
−$8.4K −$1.82/SF
NOI
$47.8K $10.34/SF
Area
Canyon County, ID
Vacancy
3.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
15.00%
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%
$955,800
Cap Rate 7%
$682,714
Cap Rate 9%
$531,000
Alternative Uses
Best Use
Warehouse
$682.7K
$597.4K – $796.5K
NOI $47,790 @ 7.0% cap · market cap 5.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,213 @ 7.0% cap · market cap 10.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
231
Businesses Nearby
Balanced
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 Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Classic Storage — Evans St, Caldwell, ID 83605
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Frequently Asked Questions
What type of property is this?
Warehouse - Steel-framed facility with a clear-span layout, office, restroom, and dedicated loading access.
Where is this warehouse located?
The property is located at 203 Hannibal Street Caldwell, ID.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 4,624 SF industrial warehouse on 0.23 acres; Clear‑span warehouse with 20' center height; One 12' x 12' roll‑up door
