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    Downtown Developable Lot For Sale Title is generated by Realmo AI

    350 E Myrtle St, Boise, ID 83702

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    For Sale
    $7,794,000

    Prime downtown lot with potential for diverse developments.

    Type:Mixed-Use Land
    Property size:
    1 SF
    Price / SF:
    $7,794,000/SF
    Added:
    Nov 21, 2025
    Days on Market:
    181
    Last Refresh:
    Apr 6 at 1:05 am

    Property Features for 350 E Myrtle St

    General Information

    Standard status
    Active
    Size
    1 SF
    Property subtype
    Mixed-Use Land

    We can help!

    Listing Contact
    Michael Ballantyne, SIOR, CCIM

    Listing agent Michael Ballantyne, SIOR, CCIM

    Listing office

    Listing date Nov 21, 2025

    Source Tokcommercial

    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 Michael Ballantyne, SIOR, CCIM

    HighLights

    • Prime downtown location on Myrtle Street/I‑84 connector
    • MX‑5 zoning allows for diverse development options
    • High visibility with excellent exposure to over 45,000 vehicles per day
    • Captivating views of Julia Davis Park
    • Walking distance to BSU Campus, sporting events, and the Boise River Greenbelt
    • Centrally located near major retailers, services, educational and medical institutions, and large employers

    Overview

    Located on E. Myrtle Street, this downtown lot is suitable for a range of developments, including multifamily, office, or retail spaces. The property offers views of Julia Davis Park and visibility from Myrtle and Broadway. Situated within walking distance to the BSU Campus and sporting venues, the location is surrounded by retailers and is central to major employers in the area. The property fronts the main arterial off of the I-84 connector into the downtown core, with exposure to over 45,000 vehicles per day at the Myrtle Street and Broadway Ave intersection. The location is near the Boise River Greenbelt and across from Julia Davis Park. The property is positioned among retailers, services, employers, and medical and educational institutions. It is located directly across the river from the BSU Campus, Albertsons Stadium, and ExtraMile Arena and is at the center point of major retailers, services, educational and medical institutes, and the area’s largest employers, including St. Luke’s Medical Center and Children’s Hospital, BSU, U of I, Albertsons HQ, and Simplot HQ.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Law Firm Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Boise
    County
    Ada
    State
    Idaho
    Longitude
    -116.201
    Latitude
    43.6099

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    FAQs

    What type of property is this?
    Land - Prime downtown lot with potential for diverse developments.
    Where is this land located?
    The property is located at 350 E Myrtle St Boise, ID.
    What is the asking price?
    The asking price for this property is $7,794,000.
    What are key features of this property?
    This property features: Prime downtown location on Myrtle Street/I‑84 connector; MX‑5 zoning allows for diverse development options; High visibility with excellent exposure to over 45,000 vehicles per day
    (208) 947-0831
    We can help!
    Listing Contact
    Michael Ballantyne, SIOR, CCIM
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    350 E Myrtle St, Boise, ID 83702
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