Modern Small-Bay Industrial
For Sale
$2,600,000
2137 S Saturn Way, Boise, ID 83709
New construction small-bay industrial suites with private offices, restrooms, and insulated overhead doors in a light industrial park.
Property Size10,000 SF
Price / SF$260
Days on Market48
Property Features for 2137 S Saturn Way
General Information
Standard status
Active
Size
10,000 SF
Property subtype
Industrial
Zoning
I-1
Warehouse & Industrial
Heavy Power
Yes
Sprinkler System
Yes
Additional Details
Highway Access
Yes
Building Details
Building Size
10,000 SF
Listing Agency:
Lee & Associates Idaho
Listed By:
Shane Jimenez · License #ID 27814
(208) 602-4500
Source:
Lee-associates
Added: Jul 19
Changed: Sep 4
Last Checked: Sep 4 at 2:19AM
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 Lee & Associates Idaho
Investment Insights
Based on property information with market context.
Building 4 at Skyway Industrial Park is a newly constructed small-bay industrial development offering approximately 10,000 square feet of modern industrial space. Suites are designed for a range of contractor and service-oriented uses, with a modern storefront office entrance, five private offices and restrooms per suite, and an open warehouse or shop area. The building includes 16’ W x 14’ H insulated overhead doors and an NFPA 13 fire sprinkler system, with energy-efficient insulated metal construction.
The property is located in the City of Boise and zoned I-1 (Light Industrial). It is situated within a professionally planned industrial park setting with ample on-site parking and 200 Amp 3-phase power. The location provides access to Interstate 84, Boise Airport, Downtown Boise, and the greater Treasure Valley.
The property is located in the City of Boise and zoned I-1 (Light Industrial). It is situated within a professionally planned industrial park setting with ample on-site parking and 200 Amp 3-phase power. The location provides access to Interstate 84, Boise Airport, Downtown Boise, and the greater Treasure Valley.
Key Highlights
- Building 4 in Skyway Industrial Park: approximately 10,000 SF of new small‑bay industrial space
- Under construction 2,000–10,000 SF suites in the City of Boise, zoned I‑1 (Light Industrial)
- Each suite includes a modern storefront office entrance plus 5 private offices and restrooms
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
$106,860
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
4.11%
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%
$2,137,200
$2.1M
Cap Rate 7%
$1,526,571
$1.5M
Cap Rate 9%
$1,187,333
$1.2M
Market Conditions
NOI Build-Up for 10,000 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
$138.0K $13.80/SF
− Vacancy
−$12.3K −$1.23/SF
EGI
$125.7K $12.57/SF
− OpEx
−$18.9K −$1.89/SF
NOI
$106.9K $10.69/SF
Area
Ada County, ID
Vacancy
8.90%
Lease Rate
$13.80 /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%
$2,137,200
Cap Rate 7%
$1,526,571
Cap Rate 9%
$1,187,333
Alternative Uses
Best Use
Warehouse
$1.53M
$1.34M – $1.78M
NOI $106,860 @ 7.0% cap · market cap 4.11%
Second Best
Flex RnD
$1.43M
$1.25M – $1.67M
NOI $99,918 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$2.76M
$2.42M – $3.22M
NOI $193,320 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Heavy power
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
812
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 83709, ID
59,461
Population
22,262
Households
2.7
Avg Household Size
38
Median Age
37%
College-Educated
96%
High-School Grad
33.7 sq mi
ZIP Area
1,764
Density / Sq Mi
$88,893
Median Household Income
$48,981
Median Earnings
$1,743
Median Rent
$440,700
Median Home Value
Market
Vacancy Rate% for Industrial in Boise, ID
Questions? Ask Rey
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Similar Off Market Nearby
- The Tony Cannoli — 7609 W Overland Rd, Boise, ID 83709
Frequently Asked Questions
What type of property is this?
Flex space - New construction small-bay industrial suites with private offices, restrooms, and insulated overhead doors in a light industrial park.
Where is this flex space located?
The property is located at 2137 S Saturn Way Boise, ID.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Building 4 in Skyway Industrial Park: approximately 10,000 SF of new small‑bay industrial space; Under construction 2,000–10,000 SF suites in the City of Boise, zoned I‑1 (Light Industrial); Each suite includes a modern storefront office entrance plus 5 private offices and restrooms
