Flex Space with Paved
For Sale
$899,000
703 N Washington Street, Twin Falls, ID 83301
Commercial Sale, Twin Falls, ID
Property Size3,880 SF
Lot Size0.96 Acres
Price / SF$231.70
Days on Market222
Property Features for 703 N Washington Street
General Information
Property type
Commercial Sale
Property subtype
Other
Exterior features
Paved Outside Area
Lot features
1/2 - .99 Acre
Standard status
Active
APN
See Legal
Size
3,880 SF
Lot size
0.96 Acres
Taxes and HOA fees
Tax Description
4 Parcel #'s RPT4021000031Q, RPT4021000031H, RPT4021000031J, RPT402100031.
Legal Description
4 Parcel #'s RPT4021000031Q, RPT4021000031H, RPT4021000031J, RPT402100031.
Utilities
Heating system
Electric (Heating), Natural Gas
Cooling system
Central Air
Building Details
Year built
1985
Roof type
Composition
Listing Agency:
Silvercreek Realty Group
(208) 377-0422
Listed By:
Kathleen Hale · License #SP26577
(208) 316-4253
Added: Jan 16
Changed: Aug 25
Last Checked: Aug 26 at 2:06AM
MLS# 98972007
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 flex-space property includes a 3,400-square-foot warehouse, a separate 480-square-foot storage building, and additional paved outdoor area. The improvements total 3,880 square feet and were built in 1985. Central air, electric and natural-gas heating, and a composition roof serve the buildings. The layout can accommodate retail, office, or mixed commercial use.
The property occupies 0.96 acres across 4 parcels at the corner of Washington Street and Caswell, with 206 feet of Washington Street frontage. Paved parking provides room for up to 50 vehicles, while the outdoor area adds practical space for business operations, customer access, or storage.
The property occupies 0.96 acres across 4 parcels at the corner of Washington Street and Caswell, with 206 feet of Washington Street frontage. Paved parking provides room for up to 50 vehicles, while the outdoor area adds practical space for business operations, customer access, or storage.
Key Highlights
- 3,400‑square‑foot warehouse plus a 480‑square‑foot storage building
- 0.96‑acre property spanning 4 parcels
- 206 feet of Washington Street frontage at Washington and Caswell
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
$30,036
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
3.34%
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%
$600,720
$600.7K
Cap Rate 7%
$429,086
$429.1K
Cap Rate 9%
$333,733
$333.7K
Market Conditions
NOI Build-Up for 3,880 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
$36.3K $9.36/SF
− Vacancy
−$981 −$0.25/SF
EGI
$35.3K $9.11/SF
− OpEx
−$5.3K −$1.37/SF
NOI
$30.0K $7.74/SF
Area
Twin Falls County, ID
Vacancy
2.70%
Lease Rate
$9.36 /SF/Yr
Expense Ratio
15.00%
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%
$600,720
Cap Rate 7%
$429,086
Cap Rate 9%
$333,733
Alternative Uses
Best Use
Warehouse
$429.1K
$375.5K – $500.6K
NOI $30,036 @ 7.0% cap · market cap 3.34%
Second Best
Flex RnD
$345.4K
$302.3K – $403.0K
NOI $24,181 @ 7.0% cap · market cap 2.69%
Theoretical Best
Specialty Retail
$890.1K
$778.8K – $1.04M
NOI $62,306 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
351
Businesses Nearby
Under-served
Demand for This Use
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 Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Corner commercial property combines warehouse, storage, and paved outdoor space for flexible business use.
Where is this flex space located?
The property is located at 703 N Washington Street Twin Falls, ID.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 3,400‑square‑foot warehouse plus a 480‑square‑foot storage building; 0.96‑acre property spanning 4 parcels; 206 feet of Washington Street frontage at Washington and Caswell
