Two-Building Office
365 BLUE LAKES BLVD N, Twin Falls, ID 83301
For Sale
Contact for pricing
Adjoining parcels carry Commercial (COM) zoning, with office, medical, retail, and service uses permitted by right.
Property Size8,676 SF
Lot Size1.24 Acres
Price / SF$218.99
Days on Market19
Property Features for 365 BLUE LAKES BLVD N
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Additional Details
Condition
Asking Price
Road Access
Property Use
Building Details
Buildings
Listing Agency:
Westerra Real Estate Group - Westcom Commercial Division
Listed By:
Erin Callen · License ID AB30460
(208) 308-1310
Source:
Crexi
Added: Oct 23
Changed: Nov 8
Last Checked: Nov 8 at 3:47PM
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 Westerra Real Estate Group - Westcom Commercial Division
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The offering combines two vacant office buildings on adjoining parcels totaling 1.24 acres (54,014 SF). The 365 Blue Lakes Boulevard N building contains 4,522 SF across three levels, with 14 rooms, four bathrooms, two kitchens, a detached 644 SF garage, and paved parking. Built in 1930, it has two gas furnaces with forced-air cooling and an asphalt roof replaced in 2001.
The 397 Blue Lakes Boulevard N property was built in 1939 and expanded in 1990. It provides 4,154 SF total, including approximately 3,000 SF above grade and a basement, plus 15 paved parking spaces. Together, the parcels have approximately 183 feet of frontage along Blue Lakes Boulevard, a commercial corridor carrying roughly 24,000 vehicles per day. Both sites are zoned Commercial (COM), allowing office, medical, retail, and service uses by right.
The 397 Blue Lakes Boulevard N property was built in 1939 and expanded in 1990. It provides 4,154 SF total, including approximately 3,000 SF above grade and a basement, plus 15 paved parking spaces. Together, the parcels have approximately 183 feet of frontage along Blue Lakes Boulevard, a commercial corridor carrying roughly 24,000 vehicles per day. Both sites are zoned Commercial (COM), allowing office, medical, retail, and service uses by right.
Key Highlights
- Two adjoining office properties combine for 1.24 acres (54,014 SF)
- Approximately 183 feet of combined frontage on Blue Lakes Boulevard; corridor traffic is roughly 24,000 vehicles per day
- 365 Blue Lakes Boulevard N: 4,522 SF, three levels, 14 rooms, four bathrooms, and two kitchens
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,726
Cap Rate
3.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,494,520
$1.5M
Cap Rate 7%
$1,067,514
$1.1M
Cap Rate 9%
$830,289
$830.3K
Market Conditions
NOI Build-Up for 8,676 SF
Gross rent
$114.5K $13.20/SF
− Vacancy
−$14.9K −$1.72/SF
EGI
$99.6K $11.48/SF
− OpEx
−$24.9K −$2.87/SF
NOI
$74.7K $8.61/SF
Area
Twin Falls County, ID
Vacancy
13.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,494,520
Cap Rate 7%
$1,067,514
Cap Rate 9%
$830,289
Alternative Uses
Best Use
Office B
$1.07M
$934.1K – $1.25M
NOI $74,726 @ 7.0% cap · market cap 3.93%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.99M
$1.74M – $2.32M
NOI $139,321 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,084
Businesses Nearby
Explore this area
Business Placement
Demographics for 83301, ID
60,789
Population
24,466
Households
2.5
Avg Household Size
35
Median Age
24%
College-Educated
90%
High-School Grad
295.7 sq mi
ZIP Area
206
Density / Sq Mi
$62,388
Median Household Income
$36,276
Median Earnings
$1,011
Median Rent
$290,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Adjoining parcels carry Commercial (COM) zoning, with office, medical, retail, and service uses permitted by right.
Where is this office building located?
The property is located at 365 BLUE LAKES BLVD N Twin Falls, ID.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Two adjoining office properties combine for 1.24 acres (54,014 SF); Approximately 183 feet of combined frontage on Blue Lakes Boulevard; corridor traffic is roughly 24,000 vehicles per day; 365 Blue Lakes Boulevard N: 4,522 SF, three levels, 14 rooms, four bathrooms, and two kitchens
