Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3937 240 Rigby, ID 83442

    Sponsored
    For Sale
    $2,200,000

    Prime Office Space, 17,101 SF, 5 Units

    Property size:
    17,101 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    413
    This exceptional 17,101 square foot executive office building presents a unique investment opportunity in Rigby, Idaho. Built in 2006, this two-story structure sits on a 0.994-acre lot and is zoned JC-C2-COMM ZN 2. The property boasts five individual units, offering flexibility for various business needs. Currently configured with a mix of uses, the building includes newly remodeled professional offices, a storefront, and a full kitchen. A significant portion of the space is currently dedicated to recreational facilities, featuring three basketball courts, batting and pitching cages with protective netting, and a weight training area. There's also a dedicated physical therapy clinic with exam rooms and specialized equipment. Additional features include spectator seating and bleachers that can be reconfigured to create a jogging track. The versatile layout makes this property ideal for a variety of uses, including sporting events, tournaments, and weekend rentals for gatherings, reunions, or receptions. Its convenient location, approximately 10 miles from Idaho Falls, adds to its appeal. The asking price for this remarkable property is $2,200,000. This is a rare opportunity to acquire a multi-use commercial property with significant income potential and a unique blend of office and recreational space.

    Property Features for 3937 240

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    17,101 SF
    Lot Size
    43,299 SF

    Building Details

    Year Built
    2006
    Stories
    2
    Units
    5

    We can help!

    Listing Contact
    Ryan Hatch
    Ryan Hatch

    Learn more

    Property Insight Report

    HighLights

    • $2,200,000 asking price.
    • 17,101 square foot office building.
    • Five units in a two‑story building.
    • Built in 2006 on a 0.994‑acre lot in Rigby, Idaho.
    • JC‑C2‑COMM ZN 2 zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Rigby
    County
    Jefferson
    State
    Idaho
    Longitude
    -111.916176
    Latitude
    43.6606776

    Nearby Similar for Sale

    • $394,995
      1,747 SF

      Ranch Home in 55+ Community

      One-level, handicap-friendly home in a peaceful 55+ community.
      795 Lindey Ln, Rigby, ID 83442
      View Details
    • $399,000
      Pending

      Rigby Duplex on Large Lot

      Duplex on almost 1 acre, minutes from Rigby, Idaho.
      3499 E 269 N, Rigby, ID 83442
      View Details
    • $375,000
      3,600 SF

      Rigby Hangar with Bifold Door

      3,600 SF hangar at Rigby Airport with many features.
      85 Mustang Way, Rigby, ID 83422
      View Details
    • $300,000
      4.98 Acres

      Land with Water Rights

      4.89 acre property with water rights near Rigby, Idaho.
      6 E 300 N, Rigby, ID 83442
      View Details
    • Contact for pricing

      Warehouse Space on Main Street

      Warehouse space with high visibility and easy accessibility in Rigby.
      180 W Main St, Rigby, ID 83442
      View Details
    • $200,000
      1.00 Acre

      Rigby Commercial Lot - Prime Location

      Idaho commercial lot, Hwy 20 access.
      L5 Landmark Ln, Rigby, ID 83442
      View Details
    • $200,000
      1.00 Acre

      Rigby Commercial Lot - Prime Location

      Idaho commercial land, Hwy 20 access.
      L3 Landmark Ln, Rigby, ID 83442
      View Details
    • $635,000
      6.31 Acres

      High-Visibility Rigby Commercial Land

      6.31 Acres, Highway 20 Frontage
      2 4100, Rigby, ID 83442
      View Details
    • $1,050,000
      17.14 Acres

      Prime Rigby Commercial Land

      17 Acres, Hwy 20 Frontage, C-1 Zoning
      5 Yellowstone Hwy, Rigby, ID 83442
      View Details
    • Contact for pricing
      1.18 Acres

      Rigby Industrial Building - 1 Acre Lot

      New Construction Steel Building - Three Units Available
      4112 648, Rigby, ID 83442
      View Details
    • $275,000
      0.54 Acres

      Prime Rigby Commercial Lot

      High-visibility lot, approved site plan.
      L10B1 Rigby Lake Dr, Rigby, ID 83442
      View Details
    • $699,000
      3.85 Acres

      Rigby Land & Shop Opportunity

      3.85 Acres, 7,000 sq ft Shop
      72 4500, Rigby, ID 83442
      View Details

    FAQs

    What type of property is this?
    Office Property / Space - Prime Office Space, 17,101 SF, 5 Units
    Where is this office property / space located?
    The property is located at 3937 240 Rigby, ID.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: $2,200,000 asking price.; 17,101 square foot office building.; Five units in a two-story building.
    Request Owner's contact information
    3937 240 Rigby, ID 83442
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3937 240
    Rigby, ID 83442
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    3937 240 Rigby, ID 83442
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Ryan Hatch
    Ryan Hatch
    Real Estate License ID: SP57178
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.