16-Bed Assisted Living
New
For Sale
$6,450,000
215 Constellation Drive, Idaho Falls, ID 83402
Commercial Sale, Idaho Falls, ID
Property Size24,230 SF
Price / SF$266.20
Days on Market6
Property Features for 215 Constellation Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
General Zoning: If Residence 3 A, Specific Zoning: Idaho Falls-R3a-Res Mixed Use
Parking features
Parking Lot
Accessibility
Accessible Approach with Ramp
Lot features
Concrete Curbing, Established Lawn, Many Trees, Sprinkler System Full
Directions
From Reeds dairy driving West on Broadway property on your left before stop light.
Standard status
Active
APN
RPA2690001002V
Size
24,230 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
CTR 24,481 SQ FT LOT 2, BLOCK 1, WESTRIDGE NE1/4, SEC 22, T 2N, R 37
Tax Annual Amount
11368
Legal Description
CTR 24,481 SQ FT LOT 2, BLOCK 1, WESTRIDGE NE1/4, SEC 22, T 2N, R 37
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
2017
Building materials
Frame, Vinyl Siding
Roof type
Composition
Listing Agency:
Silvercreek Realty Group
(208) 523-6111
Listed By:
Ryan Hatch · License #57178
(208) 201-4887
Added: Sep 22
Last Checked: Sep 27 at 12:06PM
MLS# 2189423
Copyright © 2026 Snake River Regional MLS. 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.
This assisted living facility contains 24,230 square feet and was built in 2017. The property features frame construction with vinyl siding, a composition roof, central air conditioning, and natural gas heating. A parking lot serves the facility, and the entrance includes an accessible approach with ramp.
Located at 215 Constellation Drive in Idaho Falls, the property is connected to public water and public sewer. Its physical configuration and care-oriented use support continued operation as an assisted living facility, subject to applicable requirements.
Located at 215 Constellation Drive in Idaho Falls, the property is connected to public water and public sewer. Its physical configuration and care-oriented use support continued operation as an assisted living facility, subject to applicable requirements.
Key Highlights
- 16‑bed assisted living facility
- 24,230 square feet of property area
- Built in 2017
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
$184,609
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
2.86%
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%
$3,692,180
$3.7M
Cap Rate 7%
$2,637,271
$2.6M
Cap Rate 9%
$2,051,211
$2.1M
Market Conditions
NOI Build-Up for 24,230 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
$348.9K $14.40/SF
− Vacancy
−$13.3K −$0.55/SF
EGI
$335.7K $13.85/SF
− OpEx
−$151.0K −$6.23/SF
NOI
$184.6K $7.62/SF
Area
Bonneville County, ID
Vacancy
3.80%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
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%
$3,692,180
Cap Rate 7%
$2,637,271
Cap Rate 9%
$2,051,211
Alternative Uses
Best Use
Apartment 5plus
$2.64M
$2.31M – $3.08M
NOI $184,609 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.35M
$4.68M – $6.25M
NOI $374,731 @ 7.0% cap · market cap 5.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
75
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 83402, ID
28,452
Population
11,983
Households
2.4
Avg Household Size
34
Median Age
31%
College-Educated
92%
High-School Grad
171.0 sq mi
ZIP Area
166
Density / Sq Mi
$72,064
Median Household Income
$35,593
Median Earnings
$904
Median Rent
$301,400
Median Home Value
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Similar Off Market Nearby
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- Broadway Fields Assisted Living — 175 constellation drive, Idaho Falls, ID 83402
Frequently Asked Questions
What type of property is this?
Assisted living facility - A 2017 care facility with central air, natural gas heating, public utilities, and accessible ramp entry.
Where is this assisted living facility located?
The property is located at 215 Constellation Drive Idaho Falls, ID.
What is the asking price?
The asking price for this property is $6,450,000.
What are key features of this property?
This property features: 16‑bed assisted living facility; 24,230 square feet of property area; Built in 2017
