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    802 Bannock St Boise, ID 83702

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    For Lease
    Contact for pricing

    Iconic building, flexible suites, prime location.

    Lot size:
    93,543 SF

    Property Features for 802 Bannock St

    General Information

    Property type
    Office properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    93,543 SF
    Total Rate
    116928.75

    Building Details

    Buildings
    1
    Stories
    14

    Spaces For Lease

    at 802 Bannock St, Boise, ID 83702 Contact us
    Unit 204

    $21 /Mo

    Size
    957 SF
    Contact us
    Unit 206

    $21 /Mo

    Size
    1,074 SF
    Contact us
    Unit 304

    $15 /Mo

    Size
    1,394 SF
    Contact us
    Unit 308

    $21 /Mo

    Size
    1,849 SF
    Contact us
    Unit 400

    $17 /Mo

    Size
    1,687 SF
    Contact us
    Unit 404

    $21 /Mo

    Size
    1,820 SF
    Contact us
    Unit 602

    $21 /Mo

    Size
    804 SF
    Contact us
    Unit 700

    $24 /Mo

    Size
    1,663 SF
    Contact us
    Unit 701

    $24 /Mo

    Size
    2,036 SF
    Contact us
    Unit 801

    $24 /Mo

    Size
    4,629 SF
    Contact us
    Unit 300

    $21 /Mo

    Size
    235 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Karena Gilbert
    Karena Gilbert

    Listing Agency: CBRE - Boise Listing Agent: Karena Gilbert

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    The Hoff, located at 802 W Bannock St, Boise, ID 83702, presents a unique opportunity in the heart of Downtown Boise. This 14-story, single building offers 93,543 square feet of traditional office space, with a maximum contiguous space of 4,629 square feet. Currently, 18,148 square feet is vacant, providing flexibility for businesses of various sizes. The building boasts stunning mountain views and abundant natural light from its numerous windows. Its convenient location places it steps away from the 8th Street Corridor and the Idaho State Capitol building, offering easy access to amenities and government services. The Hoff is a historically significant building, blending classic architecture with modern conveniences. The property features elevators for easy access to all floors. The APN is R1013003578. This is a multi-tenant building situated in the Downtown Boise submarket, offering a prestigious address and a vibrant urban environment. Suite sizes range from 235 square feet to 4,629 square feet, catering to a diverse range of business needs. This is an exceptional opportunity to secure office space in one of Boise's most recognizable and desirable locations.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Falcon Storage Condos Storage Facility Rotary Club of Boise Charitable Organization Idaho STEM Action ... State Government Office Crystal Ballroom Hotel & Motel Simpson for Congress Association Or Organization

    Suggested Use

    Restaurant Real Estate Agency Dental Office Spa & Massage Center Law Firm Hair Salon Nail Salon Building Supply Auto Repair Shop Big Box & Wholesale Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Boise
    County
    Ada
    State
    Idaho
    Longitude
    -116.20202061161
    Latitude
    43.617170741316

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    FAQs

    What type of property is this?
    Office property - Iconic building, flexible suites, prime location.
    Where is this office property located?
    The property is located at 802 Bannock St Boise, ID.
    What is the lease rate?
    The lease rate is $15-$24 SF/Yr.
    What are key features of this property?
    This property features: Prime downtown Boise location.; Historic building featuring an Art Deco lobby.; Recently remodeled conference center.
    (208) 947-0853 Call to check price and availability
    Request Owner's contact information
    802 Bannock St Boise, ID 83702
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    Boise, ID 83702
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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
    802 Bannock St Boise, ID 83702
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Karena Gilbert
    Karena Gilbert
    Real Estate License ID: SP40048
    (208) 947-0853
    Learn more
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