New Mixed-Use
For Sale
$7,200,000
21917 Thorsten Ave lot 100 Units 101-108, Middleton, ID 83644
Commercial Sale, Middleton, ID
Property Size30,000 SF
Price / SF$240
Days on Market700
Property Features for 21917 Thorsten Ave lot 100 Units 101-108
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning description
M-1 Light Industrial
Exterior features
Paved Outside Area
Accessibility
Accessible Approach with Ramp
Directions
At corner of Bass Ln and Middleton Rd, West on Bass, South on Tungsten. Back corner on right.
Standard status
Active
APN
R3407520100...etc
Size
30,000 SF
Taxes and HOA fees
Tax Description
See Docs
Legal Description
See Docs
Utilities
Utilities
Propane
Heating system
Natural Gas
Building Details
Year built
2026
Floors in Building
2
Number of units
8
Flooring type
Concrete
Building materials
Steel Siding, Metal Siding
Roof type
Metal
Listing Agency:
CENTURY 21 Eagle Rock
(208) 938-2824
Listed By:
Todd Mccauley · License #SP33498
(208) 866-4879
Added: Oct 11, 2024
Changed: Sep 9
Last Checked: Sep 10 at 7:06AM
MLS# 98926575
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.
This mixed-use commercial project is under construction and is scheduled for completion around the end of December 2026. The property contains 30,000 square feet, with individual units measuring 30 by 125 feet. Nearly 25-foot ceiling heights may accommodate a second floor, while concrete floors, metal roofing, steel and metal siding, and natural gas heating support a durable building design. Each unit is planned with at least one grade-level garage door at the rear, and the site includes a paved outside area with ample parking.
The project is located at 21917 Thorsten Ave in Middleton, Idaho, directly off Middleton Road. The location is reported at more than 10,000 traffic counts and includes modern building fronts with planned landscaping. The property is designed for restaurant, retail, office, industrial, and flex-space applications. Propane service and an accessible approach with ramp are also included in the property information.
The project is located at 21917 Thorsten Ave in Middleton, Idaho, directly off Middleton Road. The location is reported at more than 10,000 traffic counts and includes modern building fronts with planned landscaping. The property is designed for restaurant, retail, office, industrial, and flex-space applications. Propane service and an accessible approach with ramp are also included in the property information.
Key Highlights
- 30,000‑square‑foot mixed‑use commercial project under construction
- Individual units measure 30 by 125 feet
- Nearly 25‑foot ceiling heights may support a second floor
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
$376,261
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
5.23%
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%
$7,525,220
$7.5M
Cap Rate 7%
$5,375,157
$5.4M
Cap Rate 9%
$4,180,678
$4.2M
Market Conditions
NOI Build-Up for 30,000 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
$568.8K $18.96/SF
− Vacancy
−$31.3K −$1.04/SF
EGI
$537.5K $17.92/SF
− OpEx
−$161.3K −$5.38/SF
NOI
$376.3K $12.54/SF
Area
Canyon County, ID
Vacancy
5.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
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%
$7,525,220
Cap Rate 7%
$5,375,157
Cap Rate 9%
$4,180,678
Alternative Uses
Best Use
Retail
$5.38M
$4.70M – $6.27M
NOI $376,261 @ 7.0% cap · market cap 5.23%
Second Best
Mixed Use
$5.32M
$4.66M – $6.21M
NOI $372,600 @ 7.0% cap · market cap 5.18%
Theoretical Best
Office A
$7.99M
$6.99M – $9.32M
NOI $559,339 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
10,000 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
Explore this area
Business Placement
Demographics for 83644, ID
14,568
Population
5,362
Households
2.7
Avg Household Size
36
Median Age
27%
College-Educated
94%
High-School Grad
45.8 sq mi
ZIP Area
318
Density / Sq Mi
$86,306
Median Household Income
$41,052
Median Earnings
$1,085
Median Rent
$392,000
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.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Under construction with flexible commercial space, tall clear heights, parking, and a grade-level garage door for each unit.
Where is this mixed-use property located?
The property is located at 21917 Thorsten Ave lot 100 Units 101-108 Middleton, ID.
What is the asking price?
The asking price for this property is $7,200,000.
What are key features of this property?
This property features: 30,000‑square‑foot mixed‑use commercial project under construction; Individual units measure 30 by 125 feet; Nearly 25‑foot ceiling heights may support a second floor
