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    The Largest CRE Database in the US with Over 1 Million Listings

    4304 Hill Rd Boise, ID 83703

    Sponsored
    For Sale
    $1,250,000

    1.82 Acres, Development Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    425
    This exceptional 1.82-acre commercial land parcel at 4304 Hill Road in Boise, Idaho (Ada County, zip code 83703), presents a unique investment opportunity. The property, with APN S0629120757, is zoned City of Boise, 1B Single Family Residential, offering significant development potential. An existing 3,900 square foot building is situated on the land, providing immediate income potential or a foundation for expansion. The zoning allows for expansion up to 10,000 square feet, catering to a variety of commercial uses. Its prime location in Boise's desirable north end ensures high visibility on Hill Road, with convenient access to North Boise, West Boise, and Eagle. This area boasts one of the highest residential densities in the market, making it an ideal location for owner-occupancy or future development projects. The property's proximity to the Boise Foothills and nearby trails adds to its appeal, offering employees and residents access to outdoor recreation. The surrounding area is rich with amenities, including shops, restaurants, and golfing facilities. This property offers a compelling blend of existing infrastructure, development potential, and a highly desirable location. The asking price is $1,250,000.

    Property Features for 4304 Hill Rd

    General Information

    Property type
    Land
    Lot Size
    79,279 SF

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    Listing Contact
    Sam Mccaskill
    Sam Mccaskill

    Learn more

    Property Insight Report

    HighLights

    • 1.82‑acre commercial land parcel with a 3,900 SF existing building, expandable to 10,000 SF.
    • Desirable North Boise location on Hill Road, offering easy access to North Boise, West Boise, and Eagle.
    • High‑density residential area.
    • Excellent owner‑user potential with future development and income opportunities.
    • Backs to the Boise Foothills with access to nearby trails.
    • Located near shops, restaurants, and golf courses.
    Property Profile Location Intelligence

    Current Use by Public Records

    Curtis Maintenance Inc Renovation Specialist

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Boise
    County
    Ada
    State
    Idaho
    Longitude
    -116.242186
    Latitude
    43.6610042

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    FAQs

    What type of property is this?
    Land - 1.82 Acres, Development Potential
    Where is this land located?
    The property is located at 4304 Hill Rd Boise, ID.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: 1.82-acre commercial land parcel with a 3,900 SF existing building, expandable to 10,000 SF.; Desirable North Boise location on Hill Road, offering easy access to North Boise, West Boise, and Eagle.; High-density residential area.
    (208) 947-0804
    Request Owner's contact information
    4304 Hill Rd Boise, ID 83703
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    Boise, ID 83703
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4304 Hill Rd Boise, ID 83703
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    We can help!
    Listing Contact
    Sam Mccaskill
    Sam Mccaskill
    Real Estate License ID: 46959
    (208) 947-0804
    Learn more
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