Multi-Level Retail Flex
For Sale
$1,499,000
401 E St, Idaho Falls, ID 83402
Multi-level downtown building with basement space, multiple entrances, partitioned areas, and an overhead loading door.
Property Size24,000 SF
Price / SF$62.46
Days on Market111
Property Features for 401 E St
General Information
Standard status
Active
Size
24,000 SF
Taxes and HOA fees
Annual Taxes
$4,719
Listing Agency:
Summit View Realty
(208) 589-8282
Listed By:
Jessica Zaugg
(208) 346-2649
Source:
Exprealty
Added: May 19
Changed: Sep 4
Last Checked: Sep 5 at 2:08PM
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 Summit View Realty
Investment Insights
Based on property information with market context.
This multi-level commercial building offers a flexible layout with partitioned areas and multiple entrances, along with spacious storage and basement space. An overhead loading door supports convenient shipping and receiving for tenants or users requiring back-of-house access.
Located in downtown Idaho Falls, the property provides on-street and off-street parking and is described as being minutes from restaurants, shopping, entertainment, and the Snake River Greenbelt. Quick access to major highways is also noted in the remarks.
The Bike Shop is currently operating inside the building, and the offering includes the potential to keep the established tenant in place. The configuration is presented as adaptable for a range of retail, office, showroom, or mixed-use arrangements depending on how the interior spaces are finished and managed.
Located in downtown Idaho Falls, the property provides on-street and off-street parking and is described as being minutes from restaurants, shopping, entertainment, and the Snake River Greenbelt. Quick access to major highways is also noted in the remarks.
The Bike Shop is currently operating inside the building, and the offering includes the potential to keep the established tenant in place. The configuration is presented as adaptable for a range of retail, office, showroom, or mixed-use arrangements depending on how the interior spaces are finished and managed.
Key Highlights
- Multi‑level downtown Idaho Falls commercial building with basement space
- Overhead loading door for shipping and receiving
- Flexible interior layout with multiple entrances and partitioned areas
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
$98,784
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
6.59%
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%
$1,975,680
$2.0M
Cap Rate 7%
$1,411,200
$1.4M
Cap Rate 9%
$1,097,600
$1.1M
Market Conditions
NOI Build-Up for 24,000 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
$144.0K $6.00/SF
− Vacancy
−$2.9K −$0.12/SF
EGI
$141.1K $5.88/SF
− OpEx
−$42.3K −$1.76/SF
NOI
$98.8K $4.12/SF
Area
Bonneville County, ID
Vacancy
2.00%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,975,680
Cap Rate 7%
$1,411,200
Cap Rate 9%
$1,097,600
Alternative Uses
Best Use
Retail
$3.11M
$2.72M – $3.63M
NOI $217,768 @ 7.0% cap · market cap 14.53%
Second Best
Flex RnD
$2.11M
$1.85M – $2.47M
NOI $147,982 @ 7.0% cap · market cap 9.87%
Theoretical Best
Office A
$5.30M
$4.64M – $6.19M
NOI $371,174 @ 7.0% cap · market cap 24.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,589
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 83402, ID
28,452
Population
11,983
Households
2.4
Avg Household Size
34
Median Age
31%
College-Educated
92%
High-School Grad
171.0 sq mi
ZIP Area
166
Density / Sq Mi
$72,064
Median Household Income
$35,593
Median Earnings
$904
Median Rent
$301,400
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Multi-level downtown building with basement space, multiple entrances, partitioned areas, and an overhead loading door.
Where is this storefront property located?
The property is located at 401 E St Idaho Falls, ID.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Multi‑level downtown Idaho Falls commercial building with basement space; Overhead loading door for shipping and receiving; Flexible interior layout with multiple entrances and partitioned areas
