Three-Suite Office Building
For Sale
Contact for pricing
3393 MERLIN DR, Idaho Falls, ID 83404
Modern 2020 building with three fully leased office suites and shared common area included.
Property Size6,238 SF
Price / SF$287.75
Days on Market137
Property Features for 3393 MERLIN DR
General Information
Standard status
Active
Size
6,238 SF
Class
A
Property subtype
Office
Occupancy
100%
Net Operating Income
$113,653
Additional Details
Office Units
3
Building Details
Year Built
2020
Units
3
Tenancy
Multi
Listing Agency:
Newmark Mountain West
Listed By:
Dustin Mortimer · License #ID 49222
(801) 578-5578
Source:
Crexi
Added: Apr 22
Changed: Aug 22
Last Checked: Sep 2 at 3:46PM
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 Newmark Mountain West
Investment Insights
Based on property information with market context.
This fully leased, three-suite office investment is housed in a modern building constructed in 2020. The offering includes Suite A, Suite B, and Suite C, with 637 square feet of common area included in the total building area. Interiors feature contemporary finishes designed for professional use.
The property is positioned within an established medical corridor, aligning with surrounding healthcare users.
Each suite is separately leased, providing an income-producing office configuration with established tenant occupancy across the three units.
The property is positioned within an established medical corridor, aligning with surrounding healthcare users.
Each suite is separately leased, providing an income-producing office configuration with established tenant occupancy across the three units.
Key Highlights
- 3‑suite office investment built in 2020 and fully leased
- Total building size: 6,238 SF, including Suite A (1,955 SF), Suite B (2,098 SF), Suite C (1,548 SF) and 637 SF common area
- Each suite offers contemporary finishes designed for modern office use
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
$73,490
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
4.09%
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%
$1,469,800
$1.5M
Cap Rate 7%
$1,049,857
$1.0M
Cap Rate 9%
$816,556
$816.6K
Market Conditions
NOI Build-Up for 6,238 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
$131.0K $21.00/SF
− Vacancy
−$8.5K −$1.37/SF
EGI
$122.5K $19.64/SF
− OpEx
−$49.0K −$7.85/SF
NOI
$73.5K $11.78/SF
Area
Bonneville County, ID
Vacancy
6.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
40.00%
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%
$1,469,800
Cap Rate 7%
$1,049,857
Cap Rate 9%
$816,556
Alternative Uses
Best Use
Healthcare Medical
$1.05M
$918.6K – $1.22M
NOI $73,490 @ 7.0% cap · market cap 4.09%
Second Best
Office B
$965.6K
$844.9K – $1.13M
NOI $67,595 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,474 @ 7.0% cap · market cap 5.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Location Intelligence
Trade Area within ½ mile
1,270
Businesses Nearby
Explore this area
Business Placement
Demographics for 83404, ID
25,491
Population
9,606
Households
2.7
Avg Household Size
37
Median Age
35%
College-Educated
92%
High-School Grad
25.0 sq mi
ZIP Area
1,020
Density / Sq Mi
$79,211
Median Household Income
$36,802
Median Earnings
$1,013
Median Rent
$355,200
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Modern 2020 building with three fully leased office suites and shared common area included.
Where is this office units located?
The property is located at 3393 MERLIN DR Idaho Falls, ID.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: 3‑suite office investment built in 2020 and fully leased; Total building size: 6,238 SF, including Suite A (1,955 SF), Suite B (2,098 SF), Suite C (1,548 SF) and 637 SF common area; Each suite offers contemporary finishes designed for modern office use
