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    Property profile & analytics

    12550 Explorer Dr Boise, ID 83713

    • Commercial real estate
    • 23,936 SF
    • 0.97 lot acres
    For Lease
    View listing
    Last Sale
    Dec 23, 2021
    Value Estimations
    $1,325,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US27-0016011
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Smart Corporate Housing / Real Estate Rental Agency
    • Tague Law, PLLC / Immigration Attorney / Attorney
    • Belnap Legal, PLLC / Trial Attorney / Legal Services
    • Monte Neil Stewart / Attorney
    • Belnap Stewart Taylor & Morris / Law Firm

    Property Details for 12550 Explorer Dr

    Year built
    2006
    Lot size
    0.97 lot acres
    Property size
    23,936 SF
    Zone code
    T-1D
    Property type
    Commercial real estate
    APN
    R7406211850
    APU
    R7406211850

    Description

    This exceptional Class A executive office space, located at 12550 W. Explorer Drive in Boise, Idaho, offers 1,050 square feet of immediately available space within the 22,941 square foot Alpine Building. The two-story building features a total of seven available suites, each approximately 150 square feet, perfect for small businesses or expanding teams. Situated in the desirable West submarket of Ada County, this property boasts a prime location within the Boise Research Center, offering easy access to Eagle, Meridian, Garden City, and Downtown Boise. The building provides ample parking with a 4:1000 ratio. Enjoy the convenience of nearby amenities, including the West YMCA (two blocks away) and various coffee shops and fast-casual dining options within walking distance. Benefit from the modern infrastructure, including readily available fiber optics. This is an ideal opportunity to establish your business in a thriving and accessible location. The property is categorized as Multiple Tenancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $910,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,745,000
      Market price range: $801k - $2.41M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Boise
    County
    Ada
    State
    Idaho
    Longitude
    -116.338
    Latitude
    43.6609
    CBSA code
    14260
    CBSA name
    BOISE CITY-NAMPA, ID METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $29,331
    $488,100
    $4,482,100
    $4,970,200
    -
    $488,100
    $4,482,100
    $4,970,200

    Comparable in this City

    • Value Estimation
      $1,090,000
      24,000 SF

      10621 Emerald St

      COMMERCIAL (GENERAL) • 24,000 SF
      10621 Emerald St, Boise, ID 83713
      View Details
    • Value Estimation
      $1,315,000
      40,122 SF

      10950 Executive Dr

      COMMERCIAL (GENERAL) • 40,122 SF
      10950 Executive Dr, Boise, ID 83713-8940
      View Details
    • Value Estimation
      $1,420,000
      12,780 SF

      10855 Executive Dr

      COMMERCIAL (GENERAL) • 12,780 SF
      10855 Executive Dr, Boise, ID 83713-8939
      View Details
    • Value Estimation
      $1,170,000
      28,645 SF

      12542 Fairview Ave

      COMMERCIAL (GENERAL) • 28,645 SF
      12542 Fairview Ave, Boise, ID 83713-0026
      View Details
    • Value Estimation
      $545,000
      5,441 SF

      6300 Eagle Rd

      COMMERCIAL (GENERAL) • 5,441 SF
      6300 Eagle Rd, Boise, ID 83713-0955
      View Details
    • Value Estimation
      $945,000
      18,406 SF

      11600 Fairview Ave

      COMMERCIAL (GENERAL) • 18,406 SF
      11600 Fairview Ave, Boise, ID 83713-7836
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Eagle Road Commercial Land

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    • $1,500,000
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      Leased Suites on Fairview Avenue

      Centrally located industrial property with fully leased suites for sale.
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      Residential Land in West Boise

      Large lot for dream home in coveted West Boise.
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    • Contact for pricing
      8,000 SF

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      Office/industrial space with quick I-84 access and professional interior.
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      Residential Land in West Boise

      Unimproved land for dream home in quiet, convenient West Boise.
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    Similar Nearby for Lease

    • $15 SF/Yr
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      Maple Tree Plaza Retail Center

      High-exposure retail space; West Boise.
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      View Details
    • $20 SF/Yr
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      Alta Building: West Boise Office Space

      Executive Suites, Boise, Idaho. Prime West Boise location.
      12592 Explorer Dr, Boise, ID 83713
      View Details
    • $1.10 SF/Yr

      High-Visibility Corner Industrial Space

      Adaptable industrial space with excellent exposure and convenient highway access.
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      View Details
    • $21 SF/Yr
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      Move-in Ready Boise Research Center Suite

      Fully built-out suite in premier Boise Research Center Business Park.
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    • $18 SF/Yr
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      Boise Office Building For Lease

      Multi-tenant office space, ample parking.
      12426 Explorer Dr, Boise, ID 83713
      View Details
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    Boise, ID 83713
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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
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