Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Versatile Commercial Space Available Title is generated by Realmo AI

    515 N 16th St, Payette, ID 83702

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $8 SF/Yr $2,966/Mo (calc)

    Commercial space for lease, ideal for offices or retail.

    Type:Office
    Property size:
    4,449 SF
    Added:
    Mar 6, 2026
    Days on Market:
    75
    Last Refresh:
    Apr 5 at 10:59 pm

    Property Features for 515 N 16th St

    General Information

    Standard status
    Active
    Size
    4,449 SF
    Property subtype
    Office

    Spaces For Lease

    at 515 N 16th St Contact us

    We can help!

    Listing Contact
    Mike Erkmann, CCIM

    Listing agent Mike Erkmann, CCIM

    Listing office

    Listing date Mar 6, 2026

    Source Naiglobal

    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 Mike Erkmann, CCIM

    HighLights

    • ±4,449 SF former daycare space offers a spacious layout suitable for various commercial uses.
    • Includes ±1,465 SF of dedicated office space.
    • Available immediately for quick occupancy.
    • Prime location at 515 N 16th St, Payette, ID.
    • Versatile space ideal for offices, retail, or other ventures.
    • Well‑maintained property.

    Overview

    Located at 515 N 16th St, Payette, ID, 83702, this commercial space offers approximately 4,449 square feet for lease. The property includes approximately 1,465 square feet of office space. Previously configured as a daycare, the property features a spacious layout suitable for various uses. Available immediately, the well-maintained property is suited for businesses seeking a minimum 3-year lease. The tenant is responsible for all utilities. The property is located south of 7th Ave N and east of N 16th St. This property presents an ideal canvas for realizing commercial aspirations, whether for offices, retail, or other ventures.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Developmental Disabilities Social Service Agency Payette RV LLC Auto Repair Shop Mental Health Services Public Health Department Health and Welfare BENEFITS, ... Corporate Office Banta Larry MD Physician

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Payette
    County
    Payette
    State
    Idaho
    Longitude
    -116.923
    Latitude
    44.0801

    Nearby Similar for Lease

    • $13 SF/Yr
      8,500 SF

      Renovated Office Space in Payette

      Newly renovated office space in downtown Payette available for lease.
      2 N. Main St., Payette, ID 83661
      View Details
    • $14 SF/Yr
      20,020 SF

      Versatile Commercial Space for Lease

      Adaptable spaces suitable for office, retail, daycare, or medical use.
      501 N 16th St, Payette, ID 83702
      View Details
    • $10 SF/Yr
      7,151 SF

      Turnkey Retail Opportunity in Payette

      Established hardware property with real estate and full business inventory.
      TURNKEY RETAIL BUILDING FOR SALE AND LEASE, Payette, ID 83661
      View Details
    • $13 SF/Yr
      4,620 SF

      Turnkey Restaurant Space on Main

      Restaurant space with commercial kitchen in historic downtown Payette.
      Restaurant Space For Lease, Payette, ID 83661
      View Details
    • Contact for pricing

      Versatile Commercial Space Available

      Office, retail, daycare, or medical spaces for lease.
      501 N 16th St | Payette, ID 83702
      View Details
    • Contact for pricing
      13,851 SF

      Payette Office Space For Rent

      Versatile office space in Payette, ideal for various professional services.
      540 S 16th St | Payette, ID 83661, ID 83661
      View Details
    • Contact for pricing
      2,500 SF

      Downtown Retail Space For Lease

      Prime commercial space in downtown Payette with high visibility.
      109 N Main St, Payette, ID 83661
      View Details
    • $8 SF/Yr
      4,449 SF

      Former Daycare Space Available

      4,449 SF former daycare space available for lease.
      515 N 16 St, Payette, ID
      View Details
    • Contact for pricing
      4,449 SF

      Versatile Commercial Space in Payette

      4,449 SF commercial space with office and daycare potential.
      515 N 16th St, Payette, ID 83661
      View Details
    • Contact for pricing
      4,449 SF

      Retail Space Available For Rent

      Retail space available with 4,449 SqFt area.
      501 N 16th St, Payette, ID 83661
      View Details

    FAQs

    What type of property is this?
    Office units - Commercial space for lease, ideal for offices or retail.
    Where is this office units located?
    The property is located at 515 N 16th St Payette, ID.
    What is the lease rate?
    The lease rate is $8 SF/Yr.
    What are key features of this property?
    This property features: ±4,449 SF former daycare space offers a spacious layout suitable for various commercial uses.; Includes ±1,465 SF of dedicated office space.; Available immediately for quick occupancy.
    (208) 229-6015
    We can help!
    Listing Contact
    Mike Erkmann, CCIM
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    515 N 16th St, Payette, ID 83702
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!