Historic Market Mixed-Use
For Sale
$400,000
802 Garden, Boise, ID 83706
Historic former market mixed-use property on the Boise Bench with bike-path access and vehicle exposure.
Property Size1,155 SF
Price / SF$346.32
Days on Market102
Property Features for 802 Garden
General Information
Standard status
Active
Size
1,155 SF
Property subtype
Commercial
Building Details
Year Built
1920
Listing Agency:
Silvercreek Realty Group
(208) 377-0422
Listed By:
Tracy Volpi
Source:
Clearwaterproperties
Added: May 15
Changed: Aug 24
Last Checked: Aug 24 at 7:09AM
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 Silvercreek Realty Group
Investment Insights
Based on property information with market context.
This high-visibility Boise Bench mixed-use property is built around a historic former market structure. The offering emphasizes flexibility, with a building that is ready for renovation or a full build-out to support a customized concept within the existing character of the asset.
The property is positioned in a high-traffic area with strong vehicle exposure, and it also runs along a bike path with direct connectivity to the Boise River Greenbelt. That combination is expected to support steady pedestrian and cyclist traffic.
The seller’s remarks outline potential for uses such as a wine bar, small restaurant, café, or boutique, alongside residential or ST rental potential. The transaction is for sale, with an owner carry option also noted in the marketing materials.
The property is positioned in a high-traffic area with strong vehicle exposure, and it also runs along a bike path with direct connectivity to the Boise River Greenbelt. That combination is expected to support steady pedestrian and cyclist traffic.
The seller’s remarks outline potential for uses such as a wine bar, small restaurant, café, or boutique, alongside residential or ST rental potential. The transaction is for sale, with an owner carry option also noted in the marketing materials.
Key Highlights
- Historic former market mixed‑use property on the Boise Bench
- High‑visibility location in a high‑traffic area with strong vehicle exposure
- Positioned along a bike path with direct connectivity to the Boise River Greenbelt
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
$15,884
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
3.97%
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%
$317,680
$317.7K
Cap Rate 7%
$226,914
$226.9K
Cap Rate 9%
$176,489
$176.5K
Market Conditions
NOI Build-Up for 1,155 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
$22.2K $19.20/SF
− Vacancy
−$998 −$0.86/SF
EGI
$21.2K $18.34/SF
− OpEx
−$5.3K −$4.58/SF
NOI
$15.9K $13.75/SF
Area
Ada County, ID
Vacancy
4.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
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%
$317,680
Cap Rate 7%
$226,914
Cap Rate 9%
$176,489
Alternative Uses
Best Use
Specialty Retail
$226.9K
$198.6K – $264.7K
NOI $15,884 @ 7.0% cap · market cap 3.97%
Second Best
Mixed Use
$204.9K
$179.3K – $239.1K
NOI $14,345 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$319.0K
$279.1K – $372.1K
NOI $22,328 @ 7.0% cap · market cap 5.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,007
Businesses Nearby
63k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Shops & Services 36%
Apparel 12%
Home Improvements & Furnishings 3%
McDonald's
Dining
17,191 visits/mo
0.2 miles
SONIC Drive In
Dining
9,825 visits/mo
0.2 miles
Idaho Youth Ranch
Apparel
7,474 visits/mo
0.4 miles
Wells Fargo
Shops & Services
7,151 visits/mo
0.3 miles
Chevron
Shops & Services
5,895 visits/mo
0.4 miles
Demographics for 83706, ID
34,446
Population
15,992
Households
2.2
Avg Household Size
31
Median Age
57%
College-Educated
95%
High-School Grad
7.4 sq mi
ZIP Area
4,655
Density / Sq Mi
$81,101
Median Household Income
$33,331
Median Earnings
$1,378
Median Rent
$488,900
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?
Mixed-use property - Historic former market mixed-use property on the Boise Bench with bike-path access and vehicle exposure.
Where is this mixed-use property located?
The property is located at 802 Garden Boise, ID.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Historic former market mixed‑use property on the Boise Bench; High‑visibility location in a high‑traffic area with strong vehicle exposure; Positioned along a bike path with direct connectivity to the Boise River Greenbelt
