Retail Space on State
For Sale
$1,425,000
7476 W State St, Boise, ID 83714
Retail space with excellent visibility in a dense retail area.
Property Size4,320 SF
Days on Market110
Property Features for 7476 W State St
General Information
Standard status
Active
Size
4,320 SF
Property subtype
Retail
Building Details
Building Size
4,320 SF
Listing Agency:
TOK Commercial
(208) 947-0852
Listed By:
JP Green, CCIM · License #SP48315
Source:
Tokcommercial
Added: May 14
Changed: Aug 8
Last Checked: Aug 30 at 3:12PM
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 TOK Commercial
Investment Insights
Based on property information with market context.
This retail space offers excellent visibility with frontage and signage on State Street, which sees over 33,000 vehicles per day. The property is located directly off one of the busiest intersections in the valley, within a dense retail area that serves as a shopping hub for the North and North West Boise markets. It is situated close to amenities, with a new apartment development in the vicinity.
Key Highlights
- Excellent visibility with frontage and signage on State Street.
- High traffic volume: over 33,000 vehicles per day on State Street.
- Located directly off a busy intersection.
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
$54,755
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
3.84%
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%
$1,095,100
$1.1M
Cap Rate 7%
$782,214
$782.2K
Cap Rate 9%
$608,389
$608.4K
Market Conditions
NOI Build-Up for 4,320 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
$81.9K $18.96/SF
− Vacancy
−$3.7K −$0.85/SF
EGI
$78.2K $18.11/SF
− OpEx
−$23.5K −$5.43/SF
NOI
$54.8K $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%
$1,095,100
Cap Rate 7%
$782,214
Cap Rate 9%
$608,389
Alternative Uses
Best Use
Retail
$782.2K
$684.4K – $912.6K
NOI $54,755 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,514 @ 7.0% cap · market cap 5.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
611
Businesses Nearby
310k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 30%
Superstores 28%
Groceries 12%
Apparel 9%
Walmart
Superstores
85,859 visits/mo
0.1 miles
Albertsons
Groceries
30,762 visits/mo
0.2 miles
D&B Supply
Home Improvements & Furnishings
21,108 visits/mo
0.4 miles
Ross Dress for Less
Apparel
15,139 visits/mo
0.3 miles
Panda Express
Dining
14,106 visits/mo
0.3 miles
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 Retail in Boise, ID
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space with excellent visibility in a dense retail area.
Where is this retail space located?
The property is located at 7476 W State St Boise, ID.
What is the asking price?
The asking price for this property is $1,425,000.
What are key features of this property?
This property features: Excellent visibility with frontage and signage on State Street.; High traffic volume: over 33,000 vehicles per day on State Street.; Located directly off a busy intersection.
