Value-Add Retail Investment
For Sale
Contact for pricing
Pending
725 S Vista Ave, Boise, ID 83705
Two-parcel retail investment with income growth and redevelopment potential.
Property Size4,907 SF
Days on Market178
Property Features for 725 S Vista Ave
General Information
Standard status
Pending
Size
4,907 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Net
Investment Type
Value Add
Building Details
Buildings
2
Tenancy
Multi
Listing Agency:
Goldman Ryden
Listed By:
Matt Ryden · License #SP55166
Source:
Crexi
Added: Feb 24
Changed: Aug 8
Last Checked: Aug 21 at 4:57AM
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 Goldman Ryden
Investment Insights
Based on property information with market context.
This offering presents the opportunity to acquire a two-parcel retail investment located at 725 S Vista Ave and 717 S Vista Ave in Boise, Idaho. Positioned along Vista Avenue, one of Boise’s most prominent gateway arterials, the property benefits from visibility, traffic exposure, and proximity to downtown Boise, Boise State University, and the Boise River. The site occupies a hard corner, signalized intersection with access. The property includes two freestanding retail buildings totaling 4,907 square feet, currently occupied by Tabaco Connection and Matrix Vapor. Tabaco Connection has approximately two years remaining on its lease, while Matrix Vapor is on a month-to-month lease, offering flexibility for repositioning or redevelopment. The asset presents a value-add investment with income growth and long-term redevelopment potential.
Key Highlights
- Exceptional visibility and traffic exposure on Vista Avenue.
- Value‑add opportunity with below‑market rents, providing mark‑to‑market upside.
- Strategic location near downtown Boise, Boise State University, and the Boise River.
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
$62,195
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
4.78%
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%
$1,243,900
$1.2M
Cap Rate 7%
$888,500
$888.5K
Cap Rate 9%
$691,056
$691.1K
Market Conditions
NOI Build-Up for 4,907 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
$93.0K $18.96/SF
− Vacancy
−$4.2K −$0.85/SF
EGI
$88.9K $18.11/SF
− OpEx
−$26.7K −$5.43/SF
NOI
$62.2K $12.67/SF
Area
Ada County, ID
Vacancy
4.50%
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%
$1,243,900
Cap Rate 7%
$888,500
Cap Rate 9%
$691,056
Alternative Uses
Best Use
Retail
$888.5K
$777.4K – $1.04M
NOI $62,195 @ 7.0% cap · market cap 4.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.36M
$1.19M – $1.58M
NOI $94,862 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
885
Businesses Nearby
88k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 64%
Shops & Services 34%
Hotels & Casinos 2%
McDonald's
Dining
22,941 visits/mo
0.2 miles
Dollar Tree
Shops & Services
18,505 visits/mo
0.1 miles
Starbucks
Dining
11,641 visits/mo
0.0 miles
Jack in the Box
Dining
8,571 visits/mo
0.2 miles
Guthrie's
Dining
5,449 visits/mo
0.2 miles
Demographics for 83705, ID
27,756
Population
13,228
Households
2.1
Avg Household Size
35
Median Age
38%
College-Educated
93%
High-School Grad
16.2 sq mi
ZIP Area
1,713
Density / Sq Mi
$62,605
Median Household Income
$37,283
Median Earnings
$1,166
Median Rent
$378,800
Median Home Value
Market
Vacancy Rate% for Retail in Boise, ID
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Two-parcel retail investment with income growth and redevelopment potential.
Where is this retail space located?
The property is located at 725 S Vista Ave Boise, ID.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Exceptional visibility and traffic exposure on Vista Avenue.; Value‑add opportunity with below‑market rents, providing mark‑to‑market upside.; Strategic location near downtown Boise, Boise State University, and the Boise River.
