Mixed-Use Flex
For Sale
Contact for pricing
224 South Herons Flight Lane, Eagle, ID 83616
Commercial condo spaces combine warehouse functionality with finished interiors and glass-front storefronts.
Property Size2,500 SF
Price / SF$270
Days on Market8
Property Features for 224 South Herons Flight Lane
General Information
Standard status
Active
Size
2,500 SF
Class
A
Property subtype
Industrial
Zoning
Mixed Use
Investment Type
Owner/User
Additional Details
Clear Height
18 ft
Amenities
expansive glass
professional entryway
finished sheetrock
insulated walls and ceilings
Building Details
Year Built
2026
Buildings
1
Units
9
Listing Agency:
Lee & Associates - Boise
(208) 890-7020
Listed By:
Jesse Young · License #AB26555
Source:
Crexi
Added: Aug 14
Changed: Aug 18
Last Checked: Aug 20 at 8:26PM
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 - Boise
Investment Insights
Based on property information with market context.
Mixed-use condominium units are offered within Building 9 at 224 South Herons Flight Lane. The spaces measure 2,500 square feet and include warehouse areas with clear heights reaching 18 feet. Finished sheetrock and insulated walls and ceilings provide completed interior buildouts suited to a range of commercial applications.
Expansive storefront glazing and a professional entry create a customer-facing frontage, while the warehouse component adds functional commercial space. The property is zoned Mixed Use and was built in 2026. Units 101–109 are identified within the offering.
Expansive storefront glazing and a professional entry create a customer-facing frontage, while the warehouse component adds functional commercial space. The property is zoned Mixed Use and was built in 2026. Units 101–109 are identified within the offering.
Key Highlights
- 2,500‑square‑foot mixed‑use commercial condo spaces
- Warehouse areas offer up to 18 feet of clear height
- Expansive glass storefronts with professional entries
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
$31,687
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
4.69%
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%
$633,740
$633.7K
Cap Rate 7%
$452,671
$452.7K
Cap Rate 9%
$352,078
$352.1K
Market Conditions
NOI Build-Up for 2,500 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
$47.4K $18.96/SF
− Vacancy
−$2.1K −$0.85/SF
EGI
$45.3K $18.11/SF
− OpEx
−$13.6K −$5.43/SF
NOI
$31.7K $12.67/SF
Area
Ada County, ID
Vacancy
4.50%
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%
$633,740
Cap Rate 7%
$452,671
Cap Rate 9%
$352,078
Alternative Uses
Best Use
Retail
$452.7K
$396.1K – $528.1K
NOI $31,687 @ 7.0% cap · market cap 4.69%
Second Best
Warehouse
$381.6K
$333.9K – $445.3K
NOI $26,715 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$690.4K
$604.1K – $805.5K
NOI $48,330 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
18 ft
Clear height
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 83616, ID
33,311
Population
13,756
Households
2.4
Avg Household Size
46
Median Age
53%
College-Educated
96%
High-School Grad
111.3 sq mi
ZIP Area
299
Density / Sq Mi
$118,013
Median Household Income
$58,728
Median Earnings
$1,752
Median Rent
$720,300
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Commercial condo spaces combine warehouse functionality with finished interiors and glass-front storefronts.
Where is this flex space located?
The property is located at 224 South Herons Flight Lane Eagle, ID.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 2,500‑square‑foot mixed‑use commercial condo spaces; Warehouse areas offer up to 18 feet of clear height; Expansive glass storefronts with professional entries
