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    307 9Th St Payette, ID 83661
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    Property profile & analytics

    307 9Th St, Payette, ID 83661

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    • Commercial real estate
    • 7,619 SF
    Off-Market
    Property ID
    US27-0839971
    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 307 9Th St

    Year built
    1893
    Property type
    Commercial real estate
    APN
    P1110002001A

    Description

    This exceptional investment opportunity presents a rare chance to acquire a 12-unit multifamily property in Payette, Idaho. The property encompasses three buildings totaling 7,619 square feet on a half-acre corner lot featuring mature trees. The centerpiece is the historic Chase House, a 2,941 square foot building constructed in 1893 and listed on the National Historical Register, boasting stunning architectural details including stained glass, a turret, and original woodwork. The property also includes ten apartment units – nine one-bedroom/one-bathroom and one two-bedroom/one-bathroom – and a two-story townhome unit. Currently operating at 92% occupancy, the property generates a NOI of $61,217, with a projected NOI of $91,512 based on a pro-forma analysis. The asking price is $1,075,000, representing a price per square foot of $141.09 and a price per unit of $89,583.33. The property's B-class designation and 5.69% cap rate (8.51% pro-forma) offer significant value-add potential. Renovations were completed in 2018. The property is offered fee simple and presents endless possibilities for redevelopment or continued operation as a stable rental income generator. The property's address is 307 N 9th St, Payette, ID 83661, and the APN is P1110002001A. The projected occupancy date is July 9, 2024.

    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
    Payette
    County
    Payette
    State
    Idaho
    Longitude
    -116.9339946
    Latitude
    44.0784544

    Comparable in this City

    • $1,200,000
      12,889 SF

      Downtown Payette Mixed-Use Investment

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    • $485,000
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      Commercially zoned land with high visibility and utilities nearby.
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    • New
      $150,000
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      Payette Acreage with Building Permit

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    • New
      $265,000
      Pending

      Payette Land with Highway Frontage

      3.64 acres with Highway 95 frontage in Payette, Idaho.
      Highway 95, Payette, ID 83661
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    • Contact for pricing
      496.00 Acres

      496 Acres in Payette, Idaho

      Large acreage with development potential in a growing Idaho community.
      Stone Quarry Rd, Payette, ID 83661
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      929.00 Acres

      Payette County Land Opportunity

      929 acres near infrastructure, ideal for various high-demand projects.
      Gulch Rd, Payette, ID 83661
      View Details

    Similar Nearby for Sale

    • $1,200,000
      12,889 SF

      Downtown Payette Mixed-Use Investment

      Historic building, 11 retail/office spaces, 5 apartments.
      Payette, ID 83661
      View Details
    • $485,000
      34,673 SF

      Commercially Zoned Land on Highway

      Commercially zoned land with high visibility and utilities nearby.
      1581 South Main St, Payette, ID 83661
      View Details
    • New
      $150,000
      Pending

      Payette Acreage with Building Permit

      1.06 acres near Hwy 52 with well and power.
      3513 Highway 52, Payette, ID 83661
      View Details
    • New
      $265,000
      Pending

      Payette Land with Highway Frontage

      3.64 acres with Highway 95 frontage in Payette, Idaho.
      Highway 95, Payette, ID 83661
      View Details
    • Contact for pricing
      496.00 Acres

      496 Acres in Payette, Idaho

      Large acreage with development potential in a growing Idaho community.
      Stone Quarry Rd, Payette, ID 83661
      View Details
    • Contact for pricing
      929.00 Acres

      Payette County Land Opportunity

      929 acres near infrastructure, ideal for various high-demand projects.
      Gulch Rd, Payette, ID 83661
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Downtown Retail Space For Lease

      Prime commercial space in downtown Payette with high visibility.
      109 N Main St, Payette, ID 83661
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      Retail Space Available For Rent

      Retail space available with 4,449 SqFt area.
      501 N 16Th St, Payette, ID 83661
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      4,449 SF

      Former Daycare Space Available

      4,449 SF former daycare space available for lease.
      515 N 16Th St, Payette, ID 83661
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    • $13 SF/Yr

      Renovated Office Space in Payette

      Newly renovated office space in downtown Payette available for lease.
      2 N Main St, Payette, ID 83661
      View Details
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    Payette, ID 83661
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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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