Retail Building with
For Sale
Contact for pricing
5005 Overland Rd, Boise, ID 83705
14,457 SF building on 1.79 acres with parking.
Property Size14,457 SF
Lot Size1.79 Acres
Price / SF$242.10
Days on Market820
Property Features for 5005 Overland Rd
General Information
Standard status
Active
Size
14,457 SF
Lot size
1.79 Acres
Property subtype
Retail
Zoning
City-of-Boise MX-3
Building Details
Year Built
1998
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Summit Commercial Real Estate Group
(208) 975-4447
Listed By:
LeAnn Hume · License #ID DB28514
Source:
Crexi
Added: May 24, 2024
Changed: Aug 14
Last Checked: Aug 20 at 8:22PM
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 Summit Commercial Real Estate Group
Investment Insights
Based on property information with market context.
The property features a 14,457-square-foot building situated on a 1.79-acre lot. It includes 53 on-site parking stalls, providing a parking ratio of 3.66 spaces per 1,000 square feet. Formerly occupied by Rite Aid, the property includes a drive-through, two pylon signs, and building signage spaces. The parcel number is R1580340040, and the zoning is City-of-Boise MX-3. The property is located at 5005 Overland Rd, Boise, ID 83705.
Key Highlights
- Large Building Size: 14,457 SF
- Ample Parking: 53 On‑Site Stalls
- Sizeable Lot: 1.79 Acres
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
$198,813
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
5.68%
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%
$3,976,260
$4.0M
Cap Rate 7%
$2,840,186
$2.8M
Cap Rate 9%
$2,209,033
$2.2M
Market Conditions
NOI Build-Up for 14,457 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
$277.6K $19.20/SF
− Vacancy
−$12.5K −$0.86/SF
EGI
$265.1K $18.34/SF
− OpEx
−$66.3K −$4.58/SF
NOI
$198.8K $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%
$3,976,260
Cap Rate 7%
$2,840,186
Cap Rate 9%
$2,209,033
Alternative Uses
Best Use
Specialty Retail
$2.84M
$2.49M – $3.31M
NOI $198,813 @ 7.0% cap · market cap 5.68%
Second Best
Retail
$2.62M
$2.29M – $3.05M
NOI $183,239 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$3.99M
$3.49M – $4.66M
NOI $279,483 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
802
Businesses Nearby
78k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 45%
Shops & Services 31%
Dining 19%
Home Improvements & Furnishings 5%
Albertsons
Groceries
27,545 visits/mo
0.2 miles
Burger King
Dining
7,728 visits/mo
0.1 miles
State Liquor Store
Groceries
7,308 visits/mo
0.2 miles
Jack in the Box
Dining
5,834 visits/mo
0.2 miles
AutoZone
Shops & Services
5,171 visits/mo
0.5 miles
Demographics for 83705, ID
27,756
Population
13,228
Households
2.1
Avg Household Size
35
Median Age
38%
College-Educated
93%
High-School Grad
16.2 sq mi
ZIP Area
1,713
Density / Sq Mi
$62,605
Median Household Income
$37,283
Median Earnings
$1,166
Median Rent
$378,800
Median Home Value
Market
Vacancy Rate% for Retail in Boise, ID
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Walgreens Pharmacy — 4924 W Overland Rd, Boise, ID 83705
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- Fatima Walizada — 5005 W Overland Rd, Boise, ID 837052633
- Valerie Murray, RPH — 4924 W Overland Rd, Boise, ID 83705
- Stephanie Worden — 4924 W Overland Rd, Boise, ID 837052821
Frequently Asked Questions
What type of property is this?
Drug store - 14,457 SF building on 1.79 acres with parking.
Where is this drug store located?
The property is located at 5005 Overland Rd Boise, ID.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Large Building Size: 14,457 SF; Ample Parking: 53 On‑Site Stalls; Sizeable Lot: 1.79 Acres
