Multi-Unit Residential
For Sale
$3,000,000
2731 Cherry Ln, Emmett, ID 83617
Five powered buildings occupy an acreage property with well service and RV access.
Property Size15,000 SF
Lot Size14.27 Acres
Price / SF$200
Days on Market144
Property Features for 2731 Cherry Ln
General Information
Standard status
Active
Size
15,000 SF
Total Parking Spaces
20
Lot size
14.27 Acres
Property subtype
Income
Zoning
A2
Taxes and HOA fees
Annual Taxes
$2,427
Amenities
Concrete
Yes
3
Washer/Dryer Hookups (No Units)
Workbench
Square Feet
10-19.9 Acres
Well
14.27
20
891.73'x581.9'
RV Access/Parking
15000
Building Details
Building Size
15,000 SF
Year Built
1920
Buildings
5
Listing Agency:
Idaho Country Properties
(208) 880-6498
Listed By:
Vic Peterson
(208) 880-6498
Source:
Homesofidaho
Added: Apr 10
Changed: Aug 29
Last Checked: Aug 29 at 8:09PM
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 Idaho Country Properties
Investment Insights
Based on property information with market context.
This multifamily property encompasses 14.273 acres and includes five powered buildings ranging from 500 to 10,000 square feet. The largest structure is climate controlled and contains a prep kitchen, two bathrooms, full plumbing, and washer/dryer hookups without installed units. Additional features include concrete construction elements, a workbench, and RV access or parking.
The property is served by a well and carries A2 zoning. Site dimensions are approximately 891.73 feet by 581.9 feet. The existing improvements date to 1920, providing a multi-building residential compound configuration with substantial enclosed space across the acreage.
The property is served by a well and carries A2 zoning. Site dimensions are approximately 891.73 feet by 581.9 feet. The existing improvements date to 1920, providing a multi-building residential compound configuration with substantial enclosed space across the acreage.
Key Highlights
- 14.273‑acre multifamily property with five powered buildings
- Buildings range from 500 to 10,000 square feet
- Largest building includes prep kitchen, two bathrooms, and full plumbing
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
$147,817
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
4.93%
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%
$2,956,340
$3.0M
Cap Rate 7%
$2,111,671
$2.1M
Cap Rate 9%
$1,642,411
$1.6M
Market Conditions
NOI Build-Up for 15,000 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
$284.4K $18.96/SF
− Vacancy
−$15.6K −$1.04/SF
EGI
$268.8K $17.92/SF
− OpEx
−$120.9K −$8.06/SF
NOI
$147.8K $9.85/SF
Area
Gem County, ID
Vacancy
5.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
45.00%
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%
$2,956,340
Cap Rate 7%
$2,111,671
Cap Rate 9%
$1,642,411
Alternative Uses
Best Use
Apartment 5plus
$2.11M
$1.85M – $2.46M
NOI $147,817 @ 7.0% cap · market cap 4.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.79M
$3.32M – $4.43M
NOI $265,608 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Explore this area
Business Placement
Demographics for 83617, ID
17,502
Population
6,981
Households
2.5
Avg Household Size
44
Median Age
22%
College-Educated
89%
High-School Grad
224.0 sq mi
ZIP Area
78
Density / Sq Mi
$65,566
Median Household Income
$34,007
Median Earnings
$873
Median Rent
$364,200
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Multifamily property - Five powered buildings occupy an acreage property with well service and RV access.
Where is this multifamily property located?
The property is located at 2731 Cherry Ln Emmett, ID.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 14.273‑acre multifamily property with five powered buildings; Buildings range from 500 to 10,000 square feet; Largest building includes prep kitchen, two bathrooms, and full plumbing
