Commercial Land with Existing
For Sale
$2,500,000
6121 & 6211 Cleveland Blvd, Caldwell, ID 83607
Commercial Sale, Caldwell, ID
Property Size9,390 SF
Lot Size3.29 Acres
Price / SF$266.24
Days on Market385
Property Features for 6121 & 6211 Cleveland Blvd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C3
Bedrooms
3
Rooms
Bedroom 2, Bedroom 1, Bedroom 3
Lot features
1 - 4.99 Acres, On City Bus Route
Directions
On the north side of Cleveland Boulevard, east of Laster where Midway intersects with the Boulevard.
Standard status
Active
APN
R3091400000, R3091200000
Size
9,390 SF
Lot size
3.29 Acres
Taxes and HOA fees
Tax Description
06-3N-2W SW PORTION OF TX 07591 IN NWSW IN TCA 001-16, 06-3N-2W SW PORTION OF TX 10052 IN NW SW IN TCA 001-16
Legal Description
06-3N-2W SW PORTION OF TX 07591 IN NWSW IN TCA 001-16, 06-3N-2W SW PORTION OF TX 10052 IN NW SW IN TCA 001-16
Utilities
Sewer type
Septic Tank
Water source
Well
Building Details
Year built
1962
Number of units
1
Listing Agency:
Homes of Idaho
(208) 442-8500
Listed By:
Haley Kristovich · License #SP50048
(208) 608-4666
Added: Aug 25, 2025
Changed: Sep 13
Last Checked: Sep 13 at 3:06PM
MLS# 98959365
Copyright © 2026 Intermountain Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3.29-acre commercial land holding includes 9,390 square feet of improvements, with existing retail space and a residence currently functioning as office space. The property is zoned C-3, a service-commercial designation, and was built in 1962. Water is supplied by a well, with septic service on site.
The property is located at 6121 & 6211 Cleveland Blvd in Caldwell, with more than 270 feet of frontage along the boulevard and an additional 200+ feet of frontage and access from Laster Lane. The existing improvements provide an established commercial base while the site retains substantial land area for future development consistent with applicable zoning and approvals.
The property is located at 6121 & 6211 Cleveland Blvd in Caldwell, with more than 270 feet of frontage along the boulevard and an additional 200+ feet of frontage and access from Laster Lane. The existing improvements provide an established commercial base while the site retains substantial land area for future development consistent with applicable zoning and approvals.
Key Highlights
- 3.29‑acre commercial land property in Caldwell, ID
- 9,390 square feet of existing improvements
- C‑3 service‑commercial zoning
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
$117,770
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
4.71%
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%
$2,355,400
$2.4M
Cap Rate 7%
$1,682,429
$1.7M
Cap Rate 9%
$1,308,556
$1.3M
Market Conditions
NOI Build-Up for 9,390 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
$178.0K $18.96/SF
− Vacancy
−$9.8K −$1.04/SF
EGI
$168.2K $17.92/SF
− OpEx
−$50.5K −$5.38/SF
NOI
$117.8K $12.54/SF
Area
Canyon County, ID
Vacancy
5.50%
Lease Rate
$18.96 /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%
$2,355,400
Cap Rate 7%
$1,682,429
Cap Rate 9%
$1,308,556
Alternative Uses
Best Use
Retail
$1.68M
$1.47M – $1.96M
NOI $117,770 @ 7.0% cap · market cap 4.71%
Second Best
Mixed Use
$1.67M
$1.46M – $1.94M
NOI $116,624 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$2.50M
$2.19M – $2.92M
NOI $175,073 @ 7.0% cap · market cap 7.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
307
Businesses Nearby
16k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 83%
Dining 11%
Electronics 7%
Chevron
Shops & Services
7,307 visits/mo
0.1 miles
O'Reilly Auto Parts
Shops & Services
3,519 visits/mo
0.3 miles
Domino's Pizza
Dining
1,691 visits/mo
0.4 miles
Enterprise Rent-A-Car
Shops & Services
1,447 visits/mo
0.1 miles
Cricket Wireless Authorized Retailer
Electronics
1,064 visits/mo
0.3 miles
Demographics for 83607, ID
36,024
Population
11,858
Households
3
Avg Household Size
35
Median Age
23%
College-Educated
87%
High-School Grad
230.0 sq mi
ZIP Area
157
Density / Sq Mi
$80,170
Median Household Income
$40,259
Median Earnings
$1,404
Median Rent
$385,100
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 Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - C-3 commercial land with retail space, an office-use residence, and access from two streets.
Where is this commercial land located?
The property is located at 6121 & 6211 Cleveland Blvd Caldwell, ID.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 3.29‑acre commercial land property in Caldwell, ID; 9,390 square feet of existing improvements; C‑3 service‑commercial zoning
