Updated Triplex with Covered
New
For Sale
$479,900
240 High St, Nampa, ID 83651
Fully leased three-unit property includes attached storage and recent interior upgrades.
Property Size2,128 SF
Price / SF$225.52
Days on Market2
Property Features for 240 High St
General Information
Standard status
Active
Size
2,128 SF
Total Parking Spaces
3
Property subtype
Triplex
Occupancy
100%
Units
Multifamily Units
3
Parking per Unit
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,094
Amenities
storage unit
Garage: Carport
4
3.00
Carport
Building Details
Year Built
1965
Tenancy
Multi
Listing Agency:
Boise Premier Real Estate
(208) 577-1487
Listed By:
Mark Knight · License #AB39474
Source:
Clearwaterproperties
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 4:50AM
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 Boise Premier Real Estate
Investment Insights
Based on property information with market context.
Built in 1965, this 2,128-square-foot triplex includes three residential units with covered parking for each unit. Attached storage areas are incorporated with the carport spaces, adding practical support space for residents. Recent improvements include replacement windows, carpet flooring, and updated fixtures.
The property is located in central Nampa with access to I-84 and Downtown Nampa. All units are currently leased, providing an occupied multifamily configuration at the time of sale.
The property is located in central Nampa with access to I-84 and Downtown Nampa. All units are currently leased, providing an occupied multifamily configuration at the time of sale.
Key Highlights
- 2,128‑square‑foot triplex with three residential units
- Fully leased property with all units occupied
- Covered parking provided for each unit
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
$22,872
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
4.77%
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%
$457,440
$457.4K
Cap Rate 7%
$326,743
$326.7K
Cap Rate 9%
$254,133
$254.1K
Market Conditions
NOI Build-Up for 2,128 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
$34.5K $16.20/SF
− Vacancy
−$1.8K −$0.85/SF
EGI
$32.7K $15.35/SF
− OpEx
−$9.8K −$4.61/SF
NOI
$22.9K $10.75/SF
Area
Nampa, ID
Vacancy
5.22%
Lease Rate
$16.20 /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%
$457,440
Cap Rate 7%
$326,743
Cap Rate 9%
$254,133
Alternative Uses
Best Use
Multifamily LT 5
$326.7K
$285.9K – $381.2K
NOI $22,872 @ 7.0% cap · market cap 4.77%
Second Best
Apartment 5plus
$299.6K
$262.1K – $349.5K
NOI $20,970 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$538.3K
$471.0K – $628.0K
NOI $37,681 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
648
Businesses Nearby
Explore this area
Business Placement
Demographics for 83651, ID
34,509
Population
14,031
Households
2.5
Avg Household Size
35
Median Age
22%
College-Educated
86%
High-School Grad
15.9 sq mi
ZIP Area
2,170
Density / Sq Mi
$66,895
Median Household Income
$34,770
Median Earnings
$1,334
Median Rent
$312,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Fully leased three-unit property includes attached storage and recent interior upgrades.
Where is this triplex located?
The property is located at 240 High St Nampa, ID.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: 2,128‑square‑foot triplex with three residential units; Fully leased property with all units occupied; Covered parking provided for each unit
