Flex Space with Shop
For Sale
$2,800,000
540 Emerson Avenue, Idaho Falls, ID 83401
Commercial Sale, Idaho Falls, ID
Property Size14,896 SF
Price / SF$187.97
Days on Market94
Property Features for 540 Emerson Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
General Zoning: If Commercial, Specific Zoning: Idaho Falls-Cc-Central Commer
Parking features
Parking Lot, On Street
Accessibility
Accessible Approach with Ramp
Lot features
High Traffic
Directions
Corner of Emerson and Garfield.
Standard status
Active
APN
RPA0420013025A
Size
14,896 SF
Additional Details
Property Use
Commercial
Taxes and HOA fees
Tax Year
2025
Tax Description
N1/2 Lots 25-20, Block 13 Capitol Hill and Lots 31-32 Block 13 Capitol
Tax Annual Amount
7634
Legal Description
N1/2 Lots 25-20, Block 13 Capitol Hill and Lots 31-32 Block 13 Capitol
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
2000
Building materials
Metal Frame, Metal Siding
Roof type
Membrane
Buildings
2
Listing Agency:
Boss Real Estate
Listed By:
Jayce Howell · License #SP00023594
(208) 970-9170
Added: Aug 4
Changed: Oct 30
Last Checked: Nov 5 at 12:06PM
MLS# 2181297
Copyright © 2026 Snake River Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This flex-space offering combines an 8,296-square-foot main building with open work areas and private offices, plus an adjoining 6,600-square-foot shop building. The shop includes four overhead doors and restroom facilities, while the main building is supported by a parking lot. Construction includes a metal frame and metal siding, with membrane roofing, natural-gas forced-air heat, and central air conditioning.
The property also includes a 0.42-acre paved vacant lot at 500 Northgate Mile in Idaho Falls. The lot fronts an established commercial corridor and is positioned for exposure along Northgate Mile. The improvements are served by public water and public sewer, with additional on-street parking and an accessible approach with ramp.
The property also includes a 0.42-acre paved vacant lot at 500 Northgate Mile in Idaho Falls. The lot fronts an established commercial corridor and is positioned for exposure along Northgate Mile. The improvements are served by public water and public sewer, with additional on-street parking and an accessible approach with ramp.
Key Highlights
- 8,296 SF main building with open work areas and private offices
- 6,600 SF shop building with 4 overhead doors and restrooms
- 0.42‑acre paved vacant lot at 500 Northgate Mile
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$161,413
Cap Rate
5.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,228,260
$3.2M
Cap Rate 7%
$2,305,900
$2.3M
Cap Rate 9%
$1,793,478
$1.8M
Market Conditions
NOI Build-Up for 14,896 SF
Gross rent
$250.3K $16.80/SF
− Vacancy
−$35.0K −$2.35/SF
EGI
$215.2K $14.45/SF
− OpEx
−$53.8K −$3.61/SF
NOI
$161.4K $10.84/SF
Area
Bonneville County, ID
Vacancy
14.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,228,260
Cap Rate 7%
$2,305,900
Cap Rate 9%
$1,793,478
Alternative Uses
Best Use
Office B
$2.31M
$2.02M – $2.69M
NOI $161,413 @ 7.0% cap · market cap 5.76%
Second Best
Flex RnD
$1.31M
$1.15M – $1.53M
NOI $91,847 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$3.29M
$2.88M – $3.84M
NOI $230,376 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
923
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 83401, ID
47,114
Population
16,026
Households
2.9
Avg Household Size
31
Median Age
30%
College-Educated
90%
High-School Grad
197.3 sq mi
ZIP Area
239
Density / Sq Mi
$75,870
Median Household Income
$35,293
Median Earnings
$1,132
Median Rent
$307,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Similar Off Market Nearby
- Lost River Smokehouse — 452 S Holmes Ave, Idaho Falls, ID 83404
- Authentic Mexican food stand — Memorial Dr, Idaho Falls, ID 83402
Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial property combining office areas, open workspace, a service shop, and a paved development parcel.
Where is this flex space located?
The property is located at 540 Emerson Avenue Idaho Falls, ID.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 8,296 SF main building with open work areas and private offices; 6,600 SF shop building with 4 overhead doors and restrooms; 0.42‑acre paved vacant lot at 500 Northgate Mile
