Medical Office Space with Private
New
For Sale
$679,900
224/226 Martin Street, Twin Falls, ID 83301
Commercial Sale, Twin Falls, ID
Property Size3,664 SF
Lot Size0.05 Acres
Price / SF$185.56
Days on Market3
Property Features for 224/226 Martin Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
R6
Lot features
Sm Lot 5999 S F
Standard status
Active
APN
RPT2641000011KA
Size
3,664 SF
Lot size
0.05 Acres
Utilities
Heating system
Forced Air
Cooling system
Central Air
Listing Agency:
Equity Northwest Real Estate - Southern Idaho
(208) 320-2233
Listed By:
Christy Latta · License #SP50013
(208) 421-8003
Added: Sep 11
Changed: Sep 13
Last Checked: Sep 13 at 2:06PM
MLS# 99000705
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 3,664-square-foot medical office property offers a room-based layout that can accommodate medical, professional, or service-oriented operations. Recent interior work includes fresh paint and new flooring, while a newer roof adds to the building improvements. Central air conditioning and forced-air heating serve the space.
The property occupies a 0.05-acre parcel at 224/226 Martin Street in Twin Falls, Idaho. Its combination of private rooms and refreshed interior finishes provides a practical setting for an office user seeking an established commercial space.
The property occupies a 0.05-acre parcel at 224/226 Martin Street in Twin Falls, Idaho. Its combination of private rooms and refreshed interior finishes provides a practical setting for an office user seeking an established commercial space.
Key Highlights
- 3,664 square feet of medical office space
- Multiple private rooms support a range of office configurations
- Newer roof
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
$42,704
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
6.28%
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%
$854,080
$854.1K
Cap Rate 7%
$610,057
$610.1K
Cap Rate 9%
$474,489
$474.5K
Market Conditions
NOI Build-Up for 3,664 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
$76.9K $21.00/SF
− Vacancy
−$5.8K −$1.58/SF
EGI
$71.2K $19.43/SF
− OpEx
−$28.5K −$7.77/SF
NOI
$42.7K $11.66/SF
Area
Twin Falls County, ID
Vacancy
7.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
40.00%
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%
$854,080
Cap Rate 7%
$610,057
Cap Rate 9%
$474,489
Alternative Uses
Best Use
Healthcare Medical
$610.1K
$533.8K – $711.7K
NOI $42,704 @ 7.0% cap · market cap 6.28%
Second Best
Office B
$450.8K
$394.5K – $526.0K
NOI $31,558 @ 7.0% cap · market cap 4.64%
Theoretical Best
Specialty Retail
$840.5K
$735.5K – $980.6K
NOI $58,837 @ 7.0% cap · market cap 8.65%
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
1
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 83301, ID
60,789
Population
24,466
Households
2.5
Avg Household Size
35
Median Age
24%
College-Educated
90%
High-School Grad
295.7 sq mi
ZIP Area
206
Density / Sq Mi
$62,388
Median Household Income
$36,276
Median Earnings
$1,011
Median Rent
$290,600
Median Home Value
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Recently updated office environment with private rooms, central air, and forced-air heating.
Where is this medical office space located?
The property is located at 224/226 Martin Street Twin Falls, ID.
What is the asking price?
The asking price for this property is $679,900.
What are key features of this property?
This property features: 3,664 square feet of medical office space; Multiple private rooms support a range of office configurations; Newer roof
