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

    2406 Indiana Ave Caldwell, ID 83605

    • Commercial real estate
    • 9,720 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US27-1086073
    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

    • Commercial real estate

    Property Details for 2406 Indiana Ave

    Year built
    1975
    Property size
    9,720 SF
    Property type
    Commercial real estate

    Description

    This fee-simple owned, six-unit apartment building located at 2406 Indiana Ave, Caldwell, ID 83605, presents a compelling investment opportunity. Built in 1975 and renovated in 2000, this Class C multifamily property boasts a total of 9,720 square feet, with 4,080 square feet of net rentable space. The asking price is $890,000, translating to $91.56 per square foot and $148,333.33 per unit. Each unit is a one-bedroom, one-bathroom apartment featuring a full kitchen, living room, and washer/dryer hookups. Five of the six units have recently undergone upgrades, including new Hardiplank flooring and fresh paint within the last two years. The exterior of the building has also been freshly painted, and the roof was replaced in 2017. The property includes six off-street parking spaces and benefits from a full sprinkler system with irrigation water. Its convenient location is within walking distance of the College of Idaho, contributing to consistently high occupancy rates with minimal vacancy. The property's 9,720 square feet of air rights offer potential for future expansion or development. This is a turnkey investment ready for immediate income generation.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Caldwell
    County
    Canyon
    State
    Idaho
    Longitude
    -116.673328
    Latitude
    43.648847

    Comparable in this City

    • New
      $698,000
      3,282 SF

      New Caldwell Townhome with Two Units

      New townhome with two units near Indian Creek Plaza.
      2906 Nieve Ln, Caldwell, ID 83605
      View Details
    • $745,000
      4,945 SF

      Caldwell Multifamily Investment Opportunity

      Four units with potential for five near Indian Creek Plaza.
      1616 Everett St, Caldwell, ID 83605
      View Details
    • $837,000
      2,850 SF

      Renovated Triplex with Modern Finishes

      Fully renovated triplex with strong rental potential in Caldwell, ID.
      2105 Airport Ave, Caldwell, ID 83605
      View Details
    • $398,888
      Pending

      Caldwell Duplex: Investment Opportunity

      Well-maintained duplex near College of Idaho and downtown Caldwell.
      2203/2205 S Montana Ave, Caldwell, ID 83605
      View Details
    • $837,000
      2,850 SF

      Renovated Triplex in Caldwell, Idaho

      Fully renovated triplex with modern finishes and strong rental potential.
      2105 Airport Ave, Caldwell, ID 83605
      View Details
    • New
      $415,000
      1,773 SF

      Caldwell Duplex with Garage

      Full brick duplex with garage and strong rental history.
      3121 College Ave, Caldwell, ID 83605
      View Details

    Similar Nearby for Sale

    • New
      $698,000
      3,282 SF

      New Caldwell Townhome with Two Units

      New townhome with two units near Indian Creek Plaza.
      2906 Nieve Ln, Caldwell, ID 83605
      View Details
    • $745,000
      4,945 SF

      Caldwell Multifamily Investment Opportunity

      Four units with potential for five near Indian Creek Plaza.
      1616 Everett St, Caldwell, ID 83605
      View Details
    • $837,000
      2,850 SF

      Renovated Triplex with Modern Finishes

      Fully renovated triplex with strong rental potential in Caldwell, ID.
      2105 Airport Ave, Caldwell, ID 83605
      View Details
    • $398,888
      Pending

      Caldwell Duplex: Investment Opportunity

      Well-maintained duplex near College of Idaho and downtown Caldwell.
      2203/2205 S Montana Ave, Caldwell, ID 83605
      View Details
    • $837,000
      2,850 SF

      Renovated Triplex in Caldwell, Idaho

      Fully renovated triplex with modern finishes and strong rental potential.
      2105 Airport Ave, Caldwell, ID 83605
      View Details
    • New
      $415,000
      1,773 SF

      Caldwell Duplex with Garage

      Full brick duplex with garage and strong rental history.
      3121 College Ave, Caldwell, ID 83605
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      511,393 SF

      Caldwell, ID Retail Pad Sites

      Prime Retail Land: Build-to-Suit Options Available
      11056 Us-20, Caldwell, ID 83605
      View Details
    • Contact for pricing

      Modern Cross-Dock Facility Available

      State-of-the-art industrial space for sublease in Sky Ranch.
      1906 Smeed Pkwy, Caldwell, ID 83605
      View Details
    • $13 SF/Yr

      Medical Office Space Sublease

      Prime medical office space for sublease on hospital campus.
      404 E Elm St, Caldwell, ID 83605
      View Details
    • Contact for pricing

      Retail Land for Lease

      Land available for new retail build-to-suit or ground lease.
      4922 Cleveland Blvd, Caldwell, ID 83605
      View Details
    • Contact for pricing
      25,265 SF

      Caldwell Retail Build-to-Suit Opportunity

      Prime Caldwell location, 0.58-acre lot, build-to-suit.
      4922 Cleveland Blvd, Caldwell, ID 83605
      View Details
    • $1.25 SF/Yr
      42,940 SF

      North Ranch Industrial Warehouse Space

      Caldwell, ID: Modern warehouse units available.
      3902 Muller Dr, Caldwell, ID 83605
      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.
    2406 Indiana Ave
    Caldwell, ID 83605
    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.