Class A Office
For Sale
$599,000
398 9th St, Boise, ID 83702
Modern office suite with four private offices, a conference room, break room, work room, and private restroom with shower.
Property Size1,911 SF
Price / SF$313.45
Days on Market26
Property Features for 398 9th St
General Information
Standard status
Active
Size
1,911 SF
Class
A
Property subtype
Commercial
Building Details
Year Built
2005
Listing Agency:
Story Commercial, LLC
(208) 841-8320
Listed By:
Jay Story · License #DB26324
Source:
Clearwaterproperties
Added: Jul 17
Changed: Aug 11
Last Checked: Aug 9 at 5:23AM
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 Story Commercial, LLC
Investment Insights
Based on property information with market context.
Class A office suite built in 2005, designed to support a contemporary professional work environment. The interior includes four private offices, a conference room, break room, work room, and a full bathroom with a shower. The layout is flexible and suited for a range of workplace needs.
Located in Downtown Boise’s BoDo district, the property offers convenient parking in an adjacent garage. This suite is also available for lease.
The suite is presented as a complete office space with dedicated amenities, including a conference room and separate private office areas.
Located in Downtown Boise’s BoDo district, the property offers convenient parking in an adjacent garage. This suite is also available for lease.
The suite is presented as a complete office space with dedicated amenities, including a conference room and separate private office areas.
Key Highlights
- Built in 2005 Class A office in Boise’s BoDo (Downtown) district
- Flexible office layout with four private offices
- Includes conference room, break room, and work room
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
$25,884
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
4.32%
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%
$517,680
$517.7K
Cap Rate 7%
$369,771
$369.8K
Cap Rate 9%
$287,600
$287.6K
Market Conditions
NOI Build-Up for 1,911 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
$40.1K $21.00/SF
− Vacancy
−$5.6K −$2.94/SF
EGI
$34.5K $18.06/SF
− OpEx
−$8.6K −$4.52/SF
NOI
$25.9K $13.54/SF
Area
Ada County, ID
Vacancy
14.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$517,680
Cap Rate 7%
$369,771
Cap Rate 9%
$287,600
Alternative Uses
Best Use
Office B
$369.8K
$323.6K – $431.4K
NOI $25,884 @ 7.0% cap · market cap 4.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$527.8K
$461.8K – $615.7K
NOI $36,943 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,326
Businesses Nearby
Explore this area
Business Placement
Demographics for 83702, ID
23,951
Population
12,771
Households
1.9
Avg Household Size
40
Median Age
61%
College-Educated
97%
High-School Grad
31.4 sq mi
ZIP Area
763
Density / Sq Mi
$82,586
Median Household Income
$48,200
Median Earnings
$1,175
Median Rent
$708,000
Median Home Value
Market
Vacancy Rate% for Office in Boise, ID
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Modern office suite with four private offices, a conference room, break room, work room, and private restroom with shower.
Where is this office units located?
The property is located at 398 9th St Boise, ID.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Built in 2005 Class A office in Boise’s BoDo (Downtown) district; Flexible office layout with four private offices; Includes conference room, break room, and work room
