Historic Mixed-Use
For Sale
$400,000
Pending
802 N Garden, Boise, ID 83706
Commercial Sale, Boise, ID
Property Size1,155 SF
Lot Size0.16 Acres
Days on Market155
Property Features for 802 N Garden
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Standard Lot 6000-9999 S F, On City Bus Route
Directions
Corner of Emerald and Garden St
Standard status
Pending
APN
R5456500510
Size
1,155 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
Lots 1/2 Blk 8 Manvilles Sub Amd
Legal Description
Lots 1/2 Blk 8 Manvilles Sub Amd
Utilities
Utilities
Natural Gas Available
Building Details
Year built
1920
Floors in Building
1
Flooring type
Wood
Building materials
Stucco
Roof type
Flat
Listing Agency:
Silvercreek Realty Group
(208) 377-0422
Listed By:
Tracy Volpi · License #SP46591
(208) 350-9746
Added: Mar 24
Changed: Aug 24
Last Checked: Aug 25 at 1:06AM
MLS# 98979200
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.
Built in 1920, this 1,155-square-foot mixed-use property occupies a 0.16-acre site in Boise’s Bench area. The former market building features stucco construction, wood flooring, and a flat roof, with natural gas available. The property is positioned for renovation or full build-out, allowing the interior and future configuration to be tailored to a new concept.
The site fronts a bike path with direct connectivity to the Boise River Greenbelt and combines pedestrian and cyclist access with vehicle exposure. The existing structure has been identified for potential wine bar, small restaurant, cafe, boutique, residential, or short-term rental concepts, subject to applicable approvals. The property is located at 802 N Garden in Boise, Idaho.
The site fronts a bike path with direct connectivity to the Boise River Greenbelt and combines pedestrian and cyclist access with vehicle exposure. The existing structure has been identified for potential wine bar, small restaurant, cafe, boutique, residential, or short-term rental concepts, subject to applicable approvals. The property is located at 802 N Garden in Boise, Idaho.
Key Highlights
- 1,155‑square‑foot mixed‑use building on a 0.16‑acre site
- Former market property built in 1920
- Located along a bike path with Boise River Greenbelt connectivity
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
$15,644
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
3.91%
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%
$312,880
$312.9K
Cap Rate 7%
$223,486
$223.5K
Cap Rate 9%
$173,822
$173.8K
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
$24.3K $21.00/SF
− Vacancy
−$3.4K −$2.94/SF
EGI
$20.9K $18.06/SF
− OpEx
−$5.2K −$4.52/SF
NOI
$15.6K $13.54/SF
Area
Ada County, ID
Vacancy
14.00%
Lease Rate
$21.00 /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%
$312,880
Cap Rate 7%
$223,486
Cap Rate 9%
$173,822
Alternative Uses
Best Use
Office B
$223.5K
$195.6K – $260.7K
NOI $15,644 @ 7.0% cap · market cap 3.91%
Second Best
Retail
$209.1K
$183.0K – $244.0K
NOI $14,639 @ 7.0% cap · market cap 3.66%
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
Explore this area
Business Placement
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 Office in Boise, ID
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Former market building along a bike path, offering a compact commercial footprint with renovation and build-out flexibility.
Where is this mixed-use property located?
The property is located at 802 N 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: 1,155‑square‑foot mixed‑use building on a 0.16‑acre site; Former market property built in 1920; Located along a bike path with Boise River Greenbelt connectivity
