Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    C-3 Zoned Land with I-84 Frontage Title is generated by Realmo AI

    21451 & 21677 Chicago St, Caldwell, ID 83607

    View on Map
    Claim this Listing
    For Sale
    $1,980,000

    COMMERCIAL - Caldwell, ID

    Lot size:
    4.26 Acres
    Added:
    Dec 12, 2025
    Days on Market:
    177
    Last Refresh:
    Jun 7 at 11:06 pm

    Property Features for 21451 & 21677 Chicago St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    R3494400000
    Lot size
    4.26 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    See Exhibit's A & B under "D" tab.
    Tax Annual Amount
    1523

    Utilities

    Utilities
    Electricity Available
    Water source
    Well

    We can help!

    Listing Contact
    Tom Turner
    Tom Turner

    Listing agent Tom Turner License #AB28763

    Listing office Keller Williams Realty Boise 1065 S Allante, Boise, ID

    Listing date Dec 12, 2025

    MLS# 98969657 Listing URL

    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.

    HighLights

    • I‑84 Frontage: Benefit from high visibility and accessibility.
    • Zoned C‑3: Enjoy the flexibility of C‑3 commercial zoning.
    • Caldwell Urban Renewal District: Located within the district, potentially offering incentives.
    • Sizeable Acreage: A total of 4.26 acres provides ample space.
    • Divisible Parcels: Consisting of two parcels, offering the option to sell one independently.
    • Utilities Available: Electricity is available on the property.

    Overview

    This listing offers 4.26 acres of commercially zoned land in Caldwell, Idaho, presented as two parcels that can be retained together or potentially sold separately. The parcels are identified as approximately 1.91 acres (21451 Chicago St) and approximately 2.35 acres (21577 Chicago St). The property is located in Caldwell’s Urban Renewal District and is zoned C-3. A recent survey is available that supports a lot line adjustment.

    The site provides I-84 frontage and is described as being just off Exit 27.2. The materials reference an “Old Aerial” showing prior lot lines and the relationship of the property to I-84 and the exit. This information can be useful for understanding how the parcels sit relative to highway access.

    For buyers and developers, the C-3 designation is central to planning, with permitted uses outlined under the “D” tab in the provided zoning materials. The fact that the offering consists of two parcels may also align with scenarios where an owner prefers flexibility in how the property is assembled, marketed, or potentially separated. The provided survey and lot line adjustment context can help streamline early planning discussions.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Nail Salon Hotel & Motel Gym & Fitness Center Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Caldwell
    County
    Canyon
    State
    Idaho
    Longitude
    -116.690697
    Latitude
    43.683184

    Nearby Similar for Sale

    • $549,900
      2,955 SF

      Well-Maintained Triplex with Carports

      Triplex near the College of Idaho offering a mix of 3-bedroom and 1-bedroom layouts with carports and storage.
      1824 Poplar St., Caldwell, ID 83605
      View Details
    • $549,900
      2,800 SF

      Triplex with Wood-Burning Fireplaces

      Well-maintained triplex near College of Idaho features 2 bed, 1 bath units with carports and in-unit laundry hookups.
      1820 Poplar St., Caldwell, ID 83605
      View Details
    • $749,000
      2,850 SF

      Renovated Triplex with Garage

      Fully renovated triplex with modern finishes and strong rental potential.
      2105 Airport Ave, Caldwell, ID 83605
      View Details
    • $749,000
      2,850 SF

      Turnkey Renovated Triplex Residence

      Fully renovated triplex with updated systems, in-unit laundry hookups, and attached garages for income-producing rental housing.
      2105 Airport Ave, Caldwell, ID 83605
      View Details
    • $849,900
      6,819 SF

      Corner Lot Residential Income Property

      Operate as a by-the-room rental on a corner lot, with photos taken prior to tenant occupancy.
      2304 N Montana Avenue, Caldwell, ID 83605
      View Details
    • $250,000

      Commercial Building Lot with Parking

      Ready-to-build commercial lot with utilities to the lot line and an existing parking lot for business use.
      119 Logan St, Caldwell, ID 83605
      View Details
    • $2,089,500

      Industrial Land Subdivided Into Four Lots

      Industrial-zoned parcels with partial improvements designed for a range of logistics, storage, and industrial build-to-suit uses.
      5400-5404 Black Canyon Rd., Caldwell, ID 83607
      View Details
    • $250,000

      Commercial Building Lot with Parking

      Ready-to-build commercial lot with utilities to the lot line and an existing parking lot for office or medical use.
      119 Logan St, Caldwell, ID 83605
      View Details
    • $899,000

      Acreage Land with Irrigation Rights

      Acreage property with Farmway Road frontage, Black Canyon water shares, and existing septic approvals for flexible development.
      28677 Farmway, Caldwell, ID 83607
      View Details
    • $599,900
      2,304 SF

      Triplex with Private Fenced Yards

      Turn-key triplex with a 2025 roof, updated HVAC in two units, and fenced private yards for each unit.
      2803 College Ave, Caldwell, ID 83605
      View Details
    • $1,700,000

      Development Land with Townhome Approval

      1.65-acre residential development site with preliminary approval for 13 townhome units, positioned near major regional corridors.
      403 Hill Ln, Caldwell, ID 83605-0993
      View Details
    • $1,700,000

      Townhome Subdivision Land

      1.65-acre parcel with preliminary approved plans for 13 townhome units, positioned for development in Caldwell’s growth corridor.
      403 Hill Ln, Caldwell, ID 83605-0993
      View Details

    FAQs

    What type of property is this?
    Commercial land - 4.26 acres of C-3 zoned commercial land with I-84 frontage, located just off Exit 27.2 in Caldwell’s Urban Renewal District.
    Where is this commercial land located?
    The property is located at 21451 & 21677 Chicago St Caldwell, ID.
    What is the asking price?
    The asking price for this property is $1,980,000.
    What are key features of this property?
    This property features: I‑84 Frontage: Benefit from high visibility and accessibility.; Zoned C‑3: Enjoy the flexibility of C‑3 commercial zoning.; Caldwell Urban Renewal District: Located within the district, potentially offering incentives.
    (208) 249-2132
    We can help!
    Listing Contact
    Tom Turner
    Tom Turner
    Real Estate License ID: AB28763
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    21451 & 21677 Chicago St, Caldwell, ID 83607-7821
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!