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    205 Myrtle St Boise, ID 83702
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    Property profile & analytics

    205 Myrtle St Boise, ID 83702

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    • Commercial real estate
    • 0.15 lot acres
    Off-Market
    Property ID
    US27-0209072
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 205 Myrtle St

    Lot size
    0.15 lot acres
    Property type
    Commercial real estate

    Description

    This 0.15-acre commercial land parcel, located at 205 W Myrtle St in Boise, Idaho (zip code 83702), presents a unique investment opportunity. Situated in Ada County, this property is zoned MX-5 and enjoys a prime downtown location, benefiting from high traffic volume due to its proximity to several key attractions. These include local businesses, Boise State University's football stadium, the Discovery Center of Idaho, Jules on 3rd Apartments, Julia Davis Park, and the Boise Zoo. The property is approved under the City of Boise's zoning code for conditional use as a parking lot and a mixed-use transit facility, catering to the significant parking demand in this vibrant area. Please note that certain stipulations apply to the zoning approval. This offering is subject to a Notice of Sale, a process of selecting the highest and best offer, and approval by the U.S. Bankruptcy Court (Case No. 19-00138). Interested parties should be prepared to navigate these conditions. The property's central location and high-demand usage make it an attractive investment prospect for those seeking a foothold in Boise's thriving commercial real estate market. Detailed information regarding the stipulations and the bankruptcy court process is available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Boise
    County
    Ada
    State
    Idaho
    Longitude
    -116.1994299
    Latitude
    43.6087798

    Comparable in this City

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      4,752 SF

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    • $7,794,000

      Downtown Developable Lot For Sale

      Prime downtown lot with potential for diverse developments.
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      Foothills Land in Boise, ID

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      Downtown Boise Redevelopment Opportunity

      Rare redevelopment opportunity in a dynamic, supply-constrained Boise submarket.
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      Prime Boise Development Opportunity

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      132 West Main St, Boise, ID 83702
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    Similar Nearby for Sale

    • $2,400,000
      4,752 SF

      Prime Corner Retail Building

      Retail building on 0.46 acres with redevelopment potential.
      1407 W State St, Boise, ID 83702
      View Details
    • $399,000
      Pending

      Land Near Whitewater Park

      Land with oversized garage/shop, close to Whitewater Park.
      2907 W Pleasanton Ave, Boise, ID 83702
      View Details
    • $7,794,000

      Downtown Developable Lot For Sale

      Prime downtown lot with potential for diverse developments.
      350 E Myrtle St, Boise, ID 83702
      View Details
    • $699,900
      Pending

      Foothills Land in Boise, ID

      Idyllic North End lot with city skyline views.
      1620 N 5Th St, Boise, ID 83702
      View Details
    • Contact for pricing

      Downtown Boise Redevelopment Opportunity

      Rare redevelopment opportunity in a dynamic, supply-constrained Boise submarket.
      615 S 9Th St, Boise, ID 83702
      View Details
    • $2,900,000

      Prime Boise Development Opportunity

      Two parcels in Boise's vibrant core with development potential.
      132 West Main St, Boise, ID 83702
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Spaces Available For Rent

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      Downtown Boise Mixed-Use High-Rise

      Flexible retail, restaurant, and office space in downtown Boise.
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      Downtown Office Space For Lease

      Prime office space available in downtown Boise.
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      Window-Lined Office Space Available

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      North End Office Opportunity

      Office and retail space available in Boise's North End.
      1675 W Hill Rd, Boise, ID 83702
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      Downtown Boise Office Suites Available

      Office suites for lease in downtown Boise.
      223 N 6Th St, Boise, ID 83702
      View Details
    Request Owner's contact information
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    205 Myrtle St
    Boise, ID 83702
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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.

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    205 Myrtle St, Boise, ID, 83702
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