Building Details

Year Built 2005

Listing Agency: Story Commercial, LLC

Listed By: Jay Story · License #DB26324 Show Phone

Source: Clearwaterproperties

Added: Jul 17 Changed: Oct 16 Last Checked: Oct 16 at 8:35AM

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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

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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.

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 / Yr

$25,884

Cap Rate

4.32%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$517,680 $517.7K

Cap Rate 7%

$369,771 $369.8K

Cap Rate 9%

$287,600 $287.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,911 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $36,943 @ 7.0% cap · market cap 6.17%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Boise Dental Sleep ... Medical Clinic Boise Integrative Dentistry Dental Office Bruce Dan DDS Dental Office Ririe Robert DDS Dental Office Bruce Steve DMD Dental Office

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Tanning Salon Auto Parts Store Carpet & Flooring Store Butcher Locksmith

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

7.5% 2020

5.8% 2021

8.8% 2022

11.1% 2023

10.6% 2024

11.5% 2025

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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