Separately Metered
For Sale
$799,999
Pending
564 Blue Lakes Blvd, Twin Falls, ID 83301
Three separately metered units are fully rented under leases ending in April 2026.
Property Size4,825 SF
Days on Market31
Property Features for 564 Blue Lakes Blvd
General Information
Standard status
Pending
Size
4,825 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$3,308
Amenities
Garage: Two Car, Attached, RV Access/Parking
Garage Spaces: 2
9
5.00
Two Car, Attached, RV Access/Parking
2
Building Details
Year Built
1948
Listing Agency:
Century 21 Gateway
(208) 280-0782
Listed By:
Heidi Casdorph · License #sp42626
Source:
Clearwaterproperties
Added: Aug 1
Changed: Aug 30
Last Checked: Aug 30 at 8:03PM
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 Century 21 Gateway
Investment Insights
Based on property information with market context.
Built in 1948, this 4,825-square-foot triplex sits on 4 acres at 564 Blue Lakes Blvd in Twin Falls. The property contains three distinct residences with separate utility metering and is currently fully occupied, with existing leases scheduled to end in April 2026.
The primary residence includes 4 bedrooms and 2 bathrooms, along with nearly 1,000 square feet of insulated garage area. Improvements include fresh interior paint and updated systems. A second residence above the garage offers 3 bedrooms, 2 bathrooms, air conditioning, an updated kitchen, new carpet, and a private deck. The third unit is a 2-bedroom, 1-bath lava rock home with a new roof and fresh carpet. Attached two-car parking and RV access/parking are also provided.
The primary residence includes 4 bedrooms and 2 bathrooms, along with nearly 1,000 square feet of insulated garage area. Improvements include fresh interior paint and updated systems. A second residence above the garage offers 3 bedrooms, 2 bathrooms, air conditioning, an updated kitchen, new carpet, and a private deck. The third unit is a 2-bedroom, 1-bath lava rock home with a new roof and fresh carpet. Attached two-car parking and RV access/parking are also provided.
Key Highlights
- Three separately metered units across 4 acres
- 4,825 SF triplex built in 1948
- Main residence includes 4 bedrooms, 2 bathrooms, and nearly 1,000 sq ft of insulated garage space
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
$44,512
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
5.56%
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%
$890,240
$890.2K
Cap Rate 7%
$635,886
$635.9K
Cap Rate 9%
$494,578
$494.6K
Market Conditions
NOI Build-Up for 4,825 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
$66.6K $13.80/SF
− Vacancy
−$3.0K −$0.62/SF
EGI
$63.6K $13.18/SF
− OpEx
−$19.1K −$3.95/SF
NOI
$44.5K $9.23/SF
Area
Twin Falls County, ID
Vacancy
4.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$890,240
Cap Rate 7%
$635,886
Cap Rate 9%
$494,578
Alternative Uses
Best Use
Multifamily LT 5
$635.9K
$556.4K – $741.9K
NOI $44,512 @ 7.0% cap · market cap 5.56%
Second Best
Apartment 5plus
$572.1K
$500.6K – $667.5K
NOI $40,048 @ 7.0% cap · market cap 5.01%
Theoretical Best
Specialty Retail
$1.11M
$968.5K – $1.29M
NOI $77,481 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,256
Businesses Nearby
Explore this area
Business Placement
Demographics for 83301, ID
60,789
Population
24,466
Households
2.5
Avg Household Size
35
Median Age
24%
College-Educated
90%
High-School Grad
295.7 sq mi
ZIP Area
206
Density / Sq Mi
$62,388
Median Household Income
$36,276
Median Earnings
$1,011
Median Rent
$290,600
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?
Triplex - Three separately metered units are fully rented under leases ending in April 2026.
Where is this triplex located?
The property is located at 564 Blue Lakes Blvd Twin Falls, ID.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: Three separately metered units across 4 acres; 4,825 SF triplex built in 1948; Main residence includes 4 bedrooms, 2 bathrooms, and nearly 1,000 sq ft of insulated garage space
