Nampa Office Condo
For Sale
Contact for pricing
Pending
98 McClure Ave, Nampa, ID 83651
Office building comprised of five commercial condos, suitable for purchase.
Property Size8,693 SF
Days on Market690
Property Features for 98 McClure Ave
General Information
Standard status
Pending
Size
8,693 SF
Class
B
Property subtype
Office
Zoning
BC
Occupancy
100%
Lease Type
Modified
Building Details
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Rallens Realty Consultants
(208) 859-7407
Listed By:
Ben Fulcher · License #ID SP45658
Source:
Crexi
Added: Sep 20, 2024
Changed: Aug 8
Last Checked: Jul 28 at 6:24PM
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 Rallens Realty Consultants
Investment Insights
Based on property information with market context.
This commercial property in Nampa presents an opportunity for office purchase. The building consists of five individual commercial condos. Currently, the space is divided into three units, with tenants including Farmers Insurance and Signature Salon. The property offers frontage on Caldwell Boulevard and provides convenient access to Interstate 84 via Northside Boulevard. The building has a total size of 8,693 square feet.
Key Highlights
- Rare office purchase opportunity
- Comprised of five individual commercial condos
- Tenants include Farmers Insurance and Signature Salon
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
$112,270
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
5.94%
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%
$2,245,400
$2.2M
Cap Rate 7%
$1,603,857
$1.6M
Cap Rate 9%
$1,247,444
$1.2M
Market Conditions
NOI Build-Up for 8,693 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
$182.6K $21.00/SF
− Vacancy
−$32.9K −$3.78/SF
EGI
$149.7K $17.22/SF
− OpEx
−$37.4K −$4.31/SF
NOI
$112.3K $12.92/SF
Area
Nampa, ID
Vacancy
18.00%
Lease Rate
$21.00 /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%
$2,245,400
Cap Rate 7%
$1,603,857
Cap Rate 9%
$1,247,444
Alternative Uses
Best Use
Office B
$1.60M
$1.40M – $1.87M
NOI $112,270 @ 7.0% cap · market cap 5.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.20M
$1.92M – $2.57M
NOI $153,929 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
730
Businesses Nearby
Explore this area
Business Placement
Demographics for 83651, ID
34,509
Population
14,031
Households
2.5
Avg Household Size
35
Median Age
22%
College-Educated
86%
High-School Grad
15.9 sq mi
ZIP Area
2,170
Density / Sq Mi
$66,895
Median Household Income
$34,770
Median Earnings
$1,334
Median Rent
$312,500
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office building comprised of five commercial condos, suitable for purchase.
Where is this office units located?
The property is located at 98 McClure Ave Nampa, ID.
What is the asking price?
The asking price for this property is $1,890,000.
What are key features of this property?
This property features: Rare office purchase opportunity; Comprised of five individual commercial condos; Tenants include Farmers Insurance and Signature Salon
