Flex Space with Overhead Door
For Sale
$495,000
284 S Colorado Ave, Idaho Falls, ID 83402
Adaptable commercial building with roughed-in accessible bathrooms and Highway Commercial zoning.
Property Size5,000 SF
Price / SF$99
Days on Market10
Property Features for 284 S Colorado Ave
General Information
Standard status
Active
Size
5,000 SF
Zoning
Highway Commercial
Building Details
Year Built
1984
Listing Agency:
Century 21 High Desert
(208) 524-2121
Listed By:
Kerry Howell · License #23797
Source:
Noplacelikeidaho
Added: Aug 22
Changed: Aug 29
Last Checked: Aug 30 at 6:53PM
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 Century 21 High Desert
Investment Insights
Based on property information with market context.
Built in 1984, this 5,000-square-foot commercial building offers an open configuration suited to flex-space use. The property is being offered as-is, with improvements started by the seller. Two overhead-door openings have been created, and handicap bathrooms have been roughed in. The layout may support division into two separate units, subject to applicable requirements.
The property occupies just under 3/4 of an acre on the west side of Idaho Falls at 284 S Colorado Ave. Highway Commercial zoning provides the stated land-use designation for the site.
The property occupies just under 3/4 of an acre on the west side of Idaho Falls at 284 S Colorado Ave. Highway Commercial zoning provides the stated land-use designation for the site.
Key Highlights
- 5,000‑square‑foot commercial building constructed in 1984
- Just under 3/4 of an acre
- Highway Commercial zoning
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
$30,830
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
6.23%
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%
$616,600
$616.6K
Cap Rate 7%
$440,429
$440.4K
Cap Rate 9%
$342,556
$342.6K
Market Conditions
NOI Build-Up for 5,000 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
$51.0K $10.20/SF
− Vacancy
−$3.6K −$0.71/SF
EGI
$47.4K $9.49/SF
− OpEx
−$16.6K −$3.32/SF
NOI
$30.8K $6.17/SF
Area
Bonneville County, ID
Vacancy
7.00%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
35.00%
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%
$616,600
Cap Rate 7%
$440,429
Cap Rate 9%
$342,556
Alternative Uses
Best Use
Flex RnD
$440.4K
$385.4K – $513.8K
NOI $30,830 @ 7.0% cap · market cap 6.23%
Second Best
Industrial
$294.0K
$257.3K – $343.0K
NOI $20,580 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$1.10M
$966.6K – $1.29M
NOI $77,328 @ 7.0% cap · market cap 15.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
708
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 83402, ID
28,452
Population
11,983
Households
2.4
Avg Household Size
34
Median Age
31%
College-Educated
92%
High-School Grad
171.0 sq mi
ZIP Area
166
Density / Sq Mi
$72,064
Median Household Income
$35,593
Median Earnings
$904
Median Rent
$301,400
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Firehouse Subs Utah Avenue — 435 S Utah Ave, Idaho Falls, ID 83402
- Mama Fla The Authentic Italian Cuisine — back of the building, 385 River Pkwy, Idaho Falls, ID 83402
Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial building with roughed-in accessible bathrooms and Highway Commercial zoning.
Where is this flex space located?
The property is located at 284 S Colorado Ave Idaho Falls, ID.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 5,000‑square‑foot commercial building constructed in 1984; Just under 3/4 of an acre; Highway Commercial zoning
