Downtown Flex Office/Retail
For Sale
$732,000
424 S 3rd Street, Nampa, ID 83651
GB1-zoned building across from Nampa City Hall, currently built out with seven studio apartments and multiple kitchens and baths.
Property Size3,700 SF
Price / SF$197.84
Days on Market103
Property Features for 424 S 3rd Street
General Information
Standard status
Active
Size
3,700 SF
Property subtype
Commercial
Zoning
GB-1
Additional Details
Multifamily Units
7
Amenities
Lot Features: 10000 SF - .49 Acre, Lot Size Acres: 0.23, Lot Size Area: 0.23, Lot Size Square Feet: 10018.8, Lot Size Units: Acres
Business Type: Commercial, Listing Id: 98987752, Listing Service: Full Service, List Price: 732000, Mls Status: Active, Standard Status: Active
Above Grade Finished Area Units: Square Feet, Below Grade Finished Area Units: Square Feet, Building Area Total: 3700, Building Area Units: Square Feet, Living Area: 3700, Living Area Units: Square Feet, Year Built: 1924
City: Nampa, Coordinates: -116.569059, 43.582572, Country: US, County Or Parish: Canyon, Directions: From I-84, take the Garrity Blvd exit and head north toward downtown Nampa. Continue onto 12th Ave Road, then turn left onto 3rd Street South., Latitude: 43.582572, Longitude: -116.569059, Postal Code: 83651, State Or Province: ID, Street Dir Prefix: S, Street Name: 3rd Street, Street Number: 424, Street Number Numeric: 424, Unparsed Address: 424 S 3rd Street, Nampa ID 83651
Farm Land Area Units: Square Feet, Leasable Area Units: Square Feet, Parcel Number: R1444500000, Property Type: Commercial Lease
Building Details
Year Built
1924
Listing Agency:
Mark Bottles Real Estate Serv.
(208) 377-5700
Listed By:
David Bohecker · License #22560
(208) 230-3309
Source:
Thgboise
Added: May 26
Changed: Sep 4
Last Checked: Sep 4 at 5:12AM
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 Mark Bottles Real Estate Serv.
Investment Insights
Based on property information with market context.
This downtown building offers flexible GB1 zoning that can accommodate a range of office, retail, creative, and professional uses. The property is currently built out as seven studio apartments, which the seller notes is not a permitted use in GB-1 zoning. The building includes multiple kitchens and bathrooms, supporting a variety of potential reconfiguration options for an owner-user or investor.
Located at 424 3rd St. South in Nampa, the building sits directly across the street from Nampa City Hall and is surrounded by established downtown businesses. The positioning provides street-level access for prospective tenants.
Also available for lease, the seller says all offers will be considered.
Located at 424 3rd St. South in Nampa, the building sits directly across the street from Nampa City Hall and is surrounded by established downtown businesses. The positioning provides street-level access for prospective tenants.
Also available for lease, the seller says all offers will be considered.
Key Highlights
- 3,700 SF commercial building at 424 3rd St. South in downtown Nampa
- GB1 zoning allows flexible office, retail, creative, and professional uses
- Across the street from Nampa City Hall
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
$36,462
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
4.98%
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%
$729,240
$729.2K
Cap Rate 7%
$520,886
$520.9K
Cap Rate 9%
$405,133
$405.1K
Market Conditions
NOI Build-Up for 3,700 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
$70.2K $18.96/SF
− Vacancy
−$3.9K −$1.04/SF
EGI
$66.3K $17.92/SF
− OpEx
−$29.8K −$8.06/SF
NOI
$36.5K $9.85/SF
Area
Nampa, ID
Vacancy
5.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
45.00%
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%
$729,240
Cap Rate 7%
$520,886
Cap Rate 9%
$405,133
Alternative Uses
Best Use
Apartment 5plus
$520.9K
$455.8K – $607.7K
NOI $36,462 @ 7.0% cap · market cap 4.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$936.0K
$819.0K – $1.09M
NOI $65,517 @ 7.0% cap · market cap 8.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
1,512
Businesses Nearby
Explore this area
Business Placement
Demographics for 83651, ID
34,509
Population
14,031
Households
2.5
Avg Household Size
35
Median Age
22%
College-Educated
86%
High-School Grad
15.9 sq mi
ZIP Area
2,170
Density / Sq Mi
$66,895
Median Household Income
$34,770
Median Earnings
$1,334
Median Rent
$312,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - GB1-zoned building across from Nampa City Hall, currently built out with seven studio apartments and multiple kitchens and baths.
Where is this apartment building located?
The property is located at 424 S 3rd Street Nampa, ID.
What is the asking price?
The asking price for this property is $732,000.
What are key features of this property?
This property features: 3,700 SF commercial building at 424 3rd St. South in downtown Nampa; GB1 zoning allows flexible office, retail, creative, and professional uses; Across the street from Nampa City Hall
