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

    4304 Hill Rd Boise, ID 83703

    Sponsored
    For Lease
    Contact for pricing

    1.8-acre lot, 3,900 SF building

    Lot size:
    3,900 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    426
    This exceptional 1.8-acre commercial land parcel, located at 4304 Hill Rd in Boise, Idaho, presents a unique investment opportunity. The property features a pre-existing 3,900 square foot building, offering immediate usability and potential for expansion. Zoned City of Boise, 1B Single Family Residential, the site allows for a variety of commercial uses, subject to city approvals. The property's expansive lot size provides ample space for future development, with potential to expand the existing building to an impressive 10,000 square feet. Situated in the desirable north end of Boise, this location boasts excellent visibility and accessibility from major thoroughfares, providing easy access to North Boise, West Boise, and Eagle. The property benefits from its proximity to the Boise Foothills, offering stunning views and convenient access to nearby trails. This prime location within a high-density residential area ensures strong potential for a variety of commercial ventures. The Ada County property (APN: S0629120757) offers a blend of existing infrastructure and significant development potential, making it an attractive proposition for discerning investors seeking a strategic location in a thriving market. The 83703 zip code further underscores the desirability and convenience of this location.

    Property Features for 4304 Hill Rd

    General Information

    Property type
    Land
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    3,900 SF

    Spaces For Lease

    at 4304 Hill Rd, Boise, ID 83703 Contact us

    We can help!

    Listing Contact
    Sam Mccaskill
    Sam Mccaskill

    Learn more

    Property Insight Report

    HighLights

    • 1.8‑acre commercial lot with a 3,900 SF existing building, expandable to 10,000 SF.
    • Desirable North Boise location on Hill Rd, offering easy access to surrounding areas.
    • High‑density residential area with excellent visibility and accessibility.
    • Owner‑user potential with future development and income opportunities.
    • Backs to the Boise Foothills, providing stunning views and trail access.
    • Located in a thriving community near amenities including shops, restaurants, and recreation.
    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
    -116.2421996
    Latitude
    43.6610173

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    FAQs

    What type of property is this?
    Land - 1.8-acre lot, 3,900 SF building
    Where is this land located?
    The property is located at 4304 Hill Rd Boise, ID.
    What are key features of this property?
    This property features: 1.8-acre commercial lot with a 3,900 SF existing building, expandable to 10,000 SF.; Desirable North Boise location on Hill Rd, offering easy access to surrounding areas.; High-density residential area with excellent visibility and accessibility.
    (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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