Medical Office Condo with Private
New
For Sale
$599,000
5513 Glenwood, Garden City, ID 83714
Flexible medical office condo with treatment rooms, reception areas, storage, and cross-access parking.
Property Size1,937 SF
Price / SF$309.24
Days on Market2
Property Features for 5513 Glenwood
General Information
Standard status
Active
Size
1,937 SF
Property subtype
Commercial
Amenities
Garage: 6 - 10 Spaces
6 - 10 Spaces
Building Details
Year Built
2003
Listing Agency:
Lofthus Group
Listed By:
Gerri Kelley
(208) 571-3360
Source:
Clearwaterproperties
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 3 at 2:22AM
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 Lofthus Group
Investment Insights
Based on property information with market context.
This 1,937-square-foot medical office condo was built in 2003 and offers a practical layout for professional or clinical operations. The suite includes two entrances, six private offices that can also function as treatment rooms, two bathrooms, two large reception areas or multi-desk work areas, and two storage rooms.
Located at 5513 Glenwood in Garden City, the property includes cross-access parking with 6 - 10 spaces. The tenant is responsible for all utilities, providing a straightforward operating arrangement for an owner-user or occupant.
Located at 5513 Glenwood in Garden City, the property includes cross-access parking with 6 - 10 spaces. The tenant is responsible for all utilities, providing a straightforward operating arrangement for an owner-user or occupant.
Key Highlights
- 1,937‑square‑foot medical office condo built in 2003
- Six private offices or treatment rooms
- Two entrances and two bathrooms
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
$26,237
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
4.38%
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%
$524,740
$524.7K
Cap Rate 7%
$374,814
$374.8K
Cap Rate 9%
$291,522
$291.5K
Market Conditions
NOI Build-Up for 1,937 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
$40.7K $21.00/SF
− Vacancy
−$5.7K −$2.94/SF
EGI
$35.0K $18.06/SF
− OpEx
−$8.7K −$4.52/SF
NOI
$26.2K $13.54/SF
Area
Ada County, ID
Vacancy
14.00%
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%
$524,740
Cap Rate 7%
$374,814
Cap Rate 9%
$291,522
Alternative Uses
Best Use
Office B
$374.8K
$328.0K – $437.3K
NOI $26,237 @ 7.0% cap · market cap 4.38%
Second Best
Healthcare Medical
$350.2K
$306.4K – $408.5K
NOI $24,511 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$534.9K
$468.1K – $624.1K
NOI $37,446 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
496
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 83714, ID
26,181
Population
11,672
Households
2.2
Avg Household Size
43
Median Age
45%
College-Educated
94%
High-School Grad
54.2 sq mi
ZIP Area
483
Density / Sq Mi
$86,114
Median Household Income
$43,867
Median Earnings
$1,384
Median Rent
$468,100
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 - Flexible medical office condo with treatment rooms, reception areas, storage, and cross-access parking.
Where is this medical office space located?
The property is located at 5513 Glenwood Garden City, ID.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 1,937‑square‑foot medical office condo built in 2003; Six private offices or treatment rooms; Two entrances and two bathrooms
