Medical Office Space For
For Sale
Contact for pricing
404 E Elm St, Caldwell, ID 83605
Medical office space on hospital campus, ready for occupancy.
Property Size4,328 SF
Price / SF$216.04
Days on Market163
Property Features for 404 E Elm St
General Information
Standard status
Active
Size
4,328 SF
Property subtype
Office
Listing Agency:
Colliers - Boise, Idaho
Listed By:
Scott Feighner · License #ID SP37920
Source:
Crexi
Added: Mar 4
Changed: Aug 9
Last Checked: Aug 13 at 3:23PM
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 Colliers - Boise, Idaho
Investment Insights
Based on property information with market context.
This medical office space is located on the West Valley Medical Center's hospital campus, the largest hospital in Caldwell. The property offers fully built-out medical office space that is ready for immediate occupancy. Ample on-site parking is available. Monument and building signage options are available. The property size is 4,328 square feet.
Key Highlights
- Located on West Valley Medical Center’s hospital campus
- Fully built out medical office space
- Ready for immediate occupancy
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
$59,986
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
6.42%
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%
$1,199,720
$1.2M
Cap Rate 7%
$856,943
$856.9K
Cap Rate 9%
$666,511
$666.5K
Market Conditions
NOI Build-Up for 4,328 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
$90.9K $21.00/SF
− Vacancy
−$10.9K −$2.52/SF
EGI
$80.0K $18.48/SF
− OpEx
−$20.0K −$4.62/SF
NOI
$60.0K $13.86/SF
Area
Canyon County, ID
Vacancy
12.00%
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%
$1,199,720
Cap Rate 7%
$856,943
Cap Rate 9%
$666,511
Alternative Uses
Best Use
Office B
$856.9K
$749.8K – $999.8K
NOI $59,986 @ 7.0% cap · market cap 6.42%
Second Best
Healthcare Medical
$782.4K
$684.6K – $912.8K
NOI $54,767 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,694 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
772
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 83605, ID
38,561
Population
14,197
Households
2.7
Avg Household Size
32
Median Age
14%
College-Educated
80%
High-School Grad
24.6 sq mi
ZIP Area
1,568
Density / Sq Mi
$60,657
Median Household Income
$31,806
Median Earnings
$973
Median Rent
$300,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office space on hospital campus, ready for occupancy.
Where is this medical office space located?
The property is located at 404 E Elm St Caldwell, ID.
What is the asking price?
The asking price for this property is $935,000.
What are key features of this property?
This property features: Located on West Valley Medical Center’s hospital campus; Fully built out medical office space; Ready for immediate occupancy
