Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • 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
    Property profile & analytics

    1602 Hays St Boise, ID 83702-4000

    • Commercial real estate
    • 5,730 SF
    • 0.37 lot acres
    OFF-MARKET
    Value Estimations
    $725,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US27-0017572
    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

    • Boise Body Mind Massage LLC / Alternative Medicine Practice / Spa & Massage Center
    • SPACELIFT / Alternative Medicine Practice
    • Barbiere Devino / Barber Shop
    • Bluebird Car Wash Management / Car Wash
    • Farmers Insurance - Steven Redding / Insurance Agency

    Property Details for 1602 Hays St

    Year built
    1975
    Lot size
    0.37 lot acres
    Property size
    5,730 SF
    Zone code
    A-1
    Property type
    Commercial real estate
    APN
    R5538910060
    APU
    R5538910060

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $707,000
      Market price range: $286k - $1.02M

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

    Location Insight

    • Map
    • Local Demand
    City
    Boise
    County
    Ada
    State
    Idaho
    Longitude
    -116.208
    Latitude
    43.6261
    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
    $12,642
    $505,300
    $1,098,500
    $1,603,800
    -
    $505,300
    $1,098,500
    $1,603,800

    Comparable in this City

    • Value Estimation by Request
      456,063 SF

      1201 Grove St

      Retail properties • 456,063 SF
      1201 Grove St, Boise, ID 83702
      View Details
    • Value Estimation by Request
      14,976 SF

      512 8Th St

      Retail properties • 14,976 SF
      512 8Th St, Boise, ID 83702
      View Details
    • Value Estimation
      $730,000
      3.67 Acres

      190 Frnt St

      COMMERCIAL (GENERAL) • 3.67 Acres
      190 Frnt St, Boise, ID 83702-7315
      View Details
    • Value Estimation by Request

      2419 Fairview Ave

      COMMERCIAL (GENERAL)
      2419 Fairview Ave, Boise, ID 83702-6707
      View Details
    • Value Estimation by Request
      1.79 Acres

      204 Myrtle St

      COMMERCIAL (GENERAL) • 1.79 Acres
      204 Myrtle St, Boise, ID 83702
      View Details
    • Value Estimation by Request

      222 6th St

      COMMERCIAL (GENERAL)
      222 6th St, Boise, ID 83702-7200
      View Details

    Similar Nearby for Sale

    • $8,250,000
      1.73 Acres

      Boise Industrial Investment Opportunity

      61,969 SF, Mixed-Use, High NOI
      304 Americana Blvd, Boise, ID 83702
      View Details
    • $925,000
      1,696 SF

      Renovated Craftsman in Boise's North End

      Renovated Craftsman near Hyde Park, Camel's Back Park, and downtown.
      1513 N 12Th St, Boise, ID 83702
      View Details
    • $4,191,000
      6 SF

      Downtown Boise Commercial Building

      Downtown Boise building suitable for medical or commercial use.
      927 W Myrtle St, Boise, ID 83702
      View Details
    • Contact for pricing

      Remodeled Office Space Downtown Boise

      Newly remodeled office space in a rapidly developing downtown area.
      1655 Fairview Ave, Boise, ID 83702
      View Details
    • Contact for pricing
      70,722 SF

      Downtown Office Space For Sale

      High-quality downtown office space with street front presence and parking.
      251 E Front St, Boise, ID 83702
      View Details
    • $699,000

      Downtown Boise Office Condo

      1,797 SF office condo in Downtown Boise for sale.
      Downtown Boise Office Condo For Sale, Boise, ID 83702
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      13,174 SF

      Boise Retail Space: 9th & Broad St

      Prime Boise retail/office space available.
      855 Broad St, Boise, ID 83702
      View Details
    • $18 SF/Yr
      36,982 SF

      Sonna Building: Downtown Boise Offices

      Downtown Boise office suites, 210-3803 sq ft.
      910 Main St, Boise, ID 83702
      View Details
    • Contact for pricing
      35,034 SF

      Pocatello Executive Office Suites

      Historic Pocatello Office Space Available
      845 Ctr St, Boise, ID 83702
      View Details
    • $26 SF/Yr
      161,405 SF

      Boise Class A Office Space

      Premium Boise office suites, 3,000-80,000 sq ft
      395 Bannock St, Boise, ID 83702
      View Details
    • $16 SF/Yr
      86,841 SF

      Boise's Historic Mercantile Building

      Prime Boise office space, flexible layouts.
      404 8Th St, Boise, ID 83702
      View Details
    • $13 SF/Yr
      57,473 SF

      Jefferson Place: Boise Office Space

      Downtown Boise office building, 9 suites available.
      350 9Th St, Boise, ID 83702
      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.
    1602 Hays St
    Boise, ID 83702-4000
    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

    Google sign-in failed. Please try again or use another login method.