Cleveland Blvd Mixed-Use
For Sale
Contact for pricing
2502 Cleveland Blvd, Caldwell, ID 83605
Property on Cleveland Blvd near College of Idaho.
Property Size6,728 SF
Lot Size0.33 Acres
Price / SF$162.01
Days on Market173
Property Features for 2502 Cleveland Blvd
General Information
Standard status
Active
Size
6,728 SF
Lot size
0.33 Acres
Property subtype
Mixed Use, Multifamily, Retail
Zoning
C-2 Community Commercial
Building Details
Buildings
1
Stories
2
Listing Agency:
KW Commercial Boise
(208) 869-4713
Listed By:
Chris Novak · License #ID SP44612
Source:
Crexi
Added: Mar 2
Changed: Aug 14
Last Checked: Aug 21 at 10:01PM
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 KW Commercial Boise
Investment Insights
Based on property information with market context.
This property is located on Cleveland Boulevard, steps away from the College of Idaho and directly across from Albertson's and Simplot Stadium. It offers visibility and strong traffic counts. The property is suitable for retail, mixed-use, or multifamily development. The adjacent bakery property is also for sale. The property size is 6,728 square feet.
Key Highlights
- Irreplaceable location directly across from Albertson's and Simplot Stadium.
- Exceptional visibility on Cleveland Blvd.
- Steps away from the College of Idaho.
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
$83,562
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
7.67%
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%
$1,671,240
$1.7M
Cap Rate 7%
$1,193,743
$1.2M
Cap Rate 9%
$928,467
$928.5K
Market Conditions
NOI Build-Up for 6,728 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
$145.3K $21.60/SF
− Vacancy
−$11.6K −$1.73/SF
EGI
$133.7K $19.87/SF
− OpEx
−$50.1K −$7.45/SF
NOI
$83.6K $12.42/SF
Area
Canyon County, ID
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,671,240
Cap Rate 7%
$1,193,743
Cap Rate 9%
$928,467
Alternative Uses
Best Use
Mixed Use
$1.19M
$1.04M – $1.39M
NOI $83,562 @ 7.0% cap · market cap 7.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,441 @ 7.0% cap · market cap 11.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
513
Businesses Nearby
Explore this area
Business Placement
Demographics for 83605, ID
38,561
Population
14,197
Households
2.7
Avg Household Size
32
Median Age
14%
College-Educated
80%
High-School Grad
24.6 sq mi
ZIP Area
1,568
Density / Sq Mi
$60,657
Median Household Income
$31,806
Median Earnings
$973
Median Rent
$300,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Property on Cleveland Blvd near College of Idaho.
Where is this mixed-use property located?
The property is located at 2502 Cleveland Blvd Caldwell, ID.
What is the asking price?
The asking price for this property is $1,090,000.
What are key features of this property?
This property features: Irreplaceable location directly across from Albertson's and Simplot Stadium.; Exceptional visibility on Cleveland Blvd.; Steps away from the College of Idaho.
