Office Condo with Private
New
For Sale
$599,000
5513 N Glenwood Unit 2, Garden City, ID 83714
Professional suite with flexible reception, treatment, workspace, and storage configurations.
Property Size1,937 SF
Price / SF$309.24
Days on Market3
Property Features for 5513 N Glenwood Unit 2
General Information
Standard status
Active
Size
1,937 SF
Property subtype
Commercial
Amenities
Lot Features: On City Bus Route, Lot Size Units: Acres
Door Features: Grade Level Door
Flooring: Concrete
Cooling: Central Air, Cooling YN: t
Heating: Forced Air, Natural Gas, Heating YN: t
Business Type: Professional/Office, Lease Amount: 3975, Listing Id: 98999289, Listing Service: Full Service, Listing Terms: Cash, Conventional, List Price: 599000, Mls Status: New, Standard Status: Active
Parking Features: 6 - 10 Spaces
Above Grade Finished Area Units: Square Feet, Below Grade Finished Area Units: Square Feet, Building Area Total: 1937, Building Area Units: Square Feet, Building Name: Ashland Plaza Office Condo, Units A & C, Construction Materials: Frame, Stucco, Living Area: 1937, Living Area Units: Square Feet, Stories: 1, Year Built: 2003
City: Garden City, Coordinates: -116.28133047, 43.65521076, Country: US, County Or Parish: Ada, Directions: From State Street - South on Glenwood - subject property is on the right side. From Chinden Blvd - North on Glenwood - subjects property is on the left side., Latitude: 43.65521076, Longitude: -116.28133047, Postal Code: 83714, State Or Province: ID, Street Dir Prefix: N, Street Name: Glenwood, Street Number: 5513, Street Number Numeric: 5513, Unit Number: 2, Unparsed Address: 5513 N Glenwood # 2, Garden City ID 83714
Farm Land Area Units: Square Feet, Leasable Area: 1937, Leasable Area Units: Square Feet, Parcel Number: R0540170030, Possible Use: Office Suitable(Medical Office, Business Park, Condo, Office Building), Property Type: Commercial Sale, Road Surface Type: Paved
Electric: 220 Volts, Utilities: Sewer Connected, Natural Gas Available
Water Source: City Service
Accessibility Features: Handicap Access
Exterior Features: Paved Outside Area
Building Details
Year Built
2003
Listing Agency:
Lofthus Group
Listed By:
Gerri Kelley
(208) 571-3360
Source:
Thgboise
Added: Sep 1
Changed: Sep 2
Last Checked: Sep 2 at 2:23PM
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 Lofthus Group
Investment Insights
Based on property information with market context.
This 1,937-square-foot office condominium, built in 2003, provides a practical layout for professional or treatment-oriented operations. The suite has two entrances, six private offices that can also function as treatment rooms, two bathrooms, two reception areas, and two storage rooms. The reception areas may also accommodate multiple desks, allowing the interior to support different office arrangements.
Located in Garden City, the property includes cross-access parking. The existing configuration combines private rooms, shared customer-facing areas, and dedicated storage within a single office unit. Tenants are responsible for all utilities.
Located in Garden City, the property includes cross-access parking. The existing configuration combines private rooms, shared customer-facing areas, and dedicated storage within a single office unit. Tenants are responsible for all utilities.
Key Highlights
- 1,937‑square‑foot 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
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?
Office units - Professional suite with flexible reception, treatment, workspace, and storage configurations.
Where is this office units located?
The property is located at 5513 N Glenwood Unit 2 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 office condo built in 2003; Six private offices or treatment rooms; Two entrances and two bathrooms
