Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    228 Plaza Dr Eagle, ID 83616
    Back to Search
    Property profile & analytics

    228 Plaza Dr, Eagle, ID 83616

    View on Map
    • Neighborhood centers
    • 25,898 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 228 Plaza Dr

    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    Eagle Plaza offers a unique retail opportunity in Ada County's Eagle submarket, situated within the vibrant Central Business District (CBD) zoning. This highly trafficked strip center boasts a total of 25,898 square feet, currently featuring a diverse mix of established tenants including McDonald's, Kevista Coffee, Wells Fargo, Papa Murphy's, Supercuts, and a Dry Cleaning Butler. The property benefits from a beautiful creekside setting and is conveniently located within walking distance of downtown Eagle. A significant advantage is the shadow anchoring provided by Albertsons and Walgreens, ensuring high visibility and consistent foot traffic. Currently, one suite is available, totaling 1,848 square feet, presenting an ideal space for a variety of retail businesses. The property offers ample parking with a ratio of 4 spaces per 1,000 square feet. Existing equipment is available for purchase within the vacant suite. This is a rare opportunity to establish a presence in a thriving Eagle retail center with strong existing tenants and excellent location attributes. The property is zoned CBD, providing flexibility for various retail uses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Eagle
    County
    Ada
    State
    Idaho
    Longitude
    -116.352
    Latitude
    43.6936

    Comparable in this City

    • Value Estimation by Request
      100,000 SF

      2505 State St

      Office Spaces
      2505 State St, Eagle, ID 83616
      View Details
    • Value Estimation by Request
      0.87 Acres

      State St

      Retail properties & Spaces
      0 State St, Boise, ID 83616
      View Details
    • Value Estimation by Request

      Eagle Id

      Land
      0 Eagle Id, Hidden Springs, ID 83616
      View Details
    • Value Estimation by Request
      1.11 Acres

      State St

      Retail properties & Spaces
      0 State St, Eagle, ID 83616
      View Details
    • Value Estimation by Request
      1.00 Acre

      7884 State St

      Individual retail properties
      7884 State St, Eagle, ID 83616
      View Details
    • Value Estimation by Request
      2,600 SF

      1225 Winding Creek Dr

      Retail properties & Spaces
      1225 Winding Creek Dr, Eagle, ID 83616
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      High Visibility Retail Opportunity

      Retail opportunity in Eagle's growing corridor with access points.
      3950 W State St, Eagle, ID 83616
      View Details
    • Contact for pricing

      Prime Office Condo Opportunity

      Office/retail condos in Eagle's thriving commercial area, sizes from 1,000-6,000 SF.
      4648 W Old Valley Rd, Eagle, ID 83616
      View Details
    • Contact for pricing
      25,000 SF

      Retail Pads in Growing Corridor

      High visibility retail pads in Eagle's fastest growing corridor.
      W State St, Eagle, ID 83616
      View Details
    • $4,580,000
      4.00 Acres

      Eagle, ID Highway 44 Development Sites

      Prime Eagle location, high-growth area, two developed sites.
      7884 State St, Eagle, ID 83616
      View Details

    Similar Nearby for Lease

    • $23 SF/Yr
      7,254 SF

      Eagle, ID Executive Office Space

      7,254 SF Office/Retail in Eagle, ID
      1119 State St, Eagle, ID 83616
      View Details
    • Contact for pricing

      Downtown Eagle Retail/Restaurant/Office Space

      Retail, restaurant, service, and office spaces available in downtown Eagle.
      781 E Plaza Dr, Eagle, ID 83616
      View Details
    • Contact for pricing

      Prime Retail/Office Development Land

      Commercial land available for ground lease or build to suit.
      S Eagle Rd, Eagle, ID 83616
      View Details
    • Contact for pricing

      Waterfront Retail Space Available

      Picturesque waterfront setting ideal for businesses seeking to captivate clientele.
      441 E Riverside Dr, Eagle, ID 83616
      View Details
    • Contact for pricing

      Mixed-Use Retail/Office Space Available

      New construction mixed-use space with Greenbelt access in Eagle, ID.
      2505 W State St, Eagle, ID 83616
      View Details
    • Contact for pricing
      2,760 SF

      Retail Space Available For Lease

      Retail space for lease, former bank branch, join Habit Burger.
      3210-3410 E Chinden Blvd, Eagle, ID 83616
      View Details
    Request Owner's contact information
    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.
    228 Plaza Dr
    Eagle, ID 83616
    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
    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

    Thank You for Inquiry
    228 Plaza Dr, Eagle, ID, 83616
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!