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

    707 27Th St Boise, ID 83702

    Sponsored
    For Lease
    $18 SF/Yr ($7,617 /Mo)

    Prime Boise office space, flexible layout.

    Lot size:
    5,078 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    419
    This exceptional 5,078-square-foot office building, located at 707 N 27th St in Boise, Idaho (zip code 83702), presents a unique investment opportunity. The property, built in 1971, features a two-story design on a 0.42-acre lot and is zoned R-2. The building offers a versatile floor plan adaptable to various business needs, including traditional, creative, and executive office spaces. The total square footage is comprised of approximately 3,942 square feet of office space (2,015.31 SF upper level and 1,926.48 SF lower level) and 1,136 square feet of garage space (782.06 SF large garage and 354.04 SF small garage). Ample on-site parking is available at the front and rear of the building. Its convenient location offers easy access to downtown Boise and the I-184 Connector, providing seamless connectivity to Interstate 84 via the Main Street on/off ramp. High-speed fiber internet is available. The building is currently available for sale and lease as a single tenancy. The property's adaptable layout and prime location make it an ideal choice for businesses seeking a flexible and well-situated office space in Boise's thriving market. No elevators are present. The Assessor's Parcel Number (APN) is R1754002475.

    Property Features for 707 27Th St

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    5,078 SF
    Total Rate
    7617

    Building Details

    Year Built
    1971
    Stories
    2

    Unit(s) available at that property

    Space
    Size
    5,078 SF
    Rate per SF
    $18

    We can help!

    Listing Contact
    Bree Wells
    Bree Wells

    Learn more

    Property Insight Report

    HighLights

    • 5,078 SF office building on a 0.42‑acre lot in Boise, ID (83702).
    • Two‑story building (1971 construction) with R‑2 zoning.
    • 3,942 SF of office space (2,015 SF upper, 1,926 SF lower) plus 1,136 SF of garage space.
    • Ample on‑site parking.
    • Convenient location near downtown Boise and I‑184 Connector, with high‑speed fiber internet access.
    • Available for sale or lease as a single tenancy.
    Property Profile Location Intelligence

    Current Use by Public Records

    TAIT & Associates Inc Architect

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Boise
    County
    Ada
    State
    Idaho
    Longitude
    -116.2244053
    Latitude
    43.627379

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    FAQs

    What type of property is this?
    Office space - Prime Boise office space, flexible layout.
    Where is this office space located?
    The property is located at 707 27Th St Boise, ID.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: 5,078 SF office building on a 0.42-acre lot in Boise, ID (83702).; Two-story building (1971 construction) with R-2 zoning.; 3,942 SF of office space (2,015 SF upper, 1,926 SF lower) plus 1,136 SF of garage space.
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    707 27Th 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
    707 27Th St Boise, ID 83702
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    We can help!
    Listing Contact
    Bree Wells
    Bree Wells
    Real Estate License ID: SP48431
    Learn more
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