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    3937 240 Rigby, ID 83442
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    3937 240, Rigby, ID 83442

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    • Commercial real estate
    • 17,101 SF
    • 0.99 lot acres
    Off-Market
    Property ID
    US27-0804454
    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 3937 240

    Year built
    2006
    Lot size
    0.99 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 17,101 square foot executive office building presents a unique investment opportunity in Rigby, Idaho. Built in 2006, this two-story structure sits on a 0.994-acre lot and is zoned JC-C2-COMM ZN 2. The property boasts five individual units, offering flexibility for various business needs. Currently configured with a mix of uses, the building includes newly remodeled professional offices, a storefront, and a full kitchen. A significant portion of the space is currently dedicated to recreational facilities, featuring three basketball courts, batting and pitching cages with protective netting, and a weight training area. There's also a dedicated physical therapy clinic with exam rooms and specialized equipment. Additional features include spectator seating and bleachers that can be reconfigured to create a jogging track. The versatile layout makes this property ideal for a variety of uses, including sporting events, tournaments, and weekend rentals for gatherings, reunions, or receptions. Its convenient location, approximately 10 miles from Idaho Falls, adds to its appeal. The asking price for this remarkable property is $2,200,000. This is a rare opportunity to acquire a multi-use commercial property with significant income potential and a unique blend of office and recreational space.

    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
    Rigby
    County
    Jefferson
    State
    Idaho
    Longitude
    -111.916176
    Latitude
    43.6606776

    Comparable in this City

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      Modern Industrial Warehouse with Offices

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      Commercial Land and Built-to-Suit

      2 acres of commercial land with built-to-suit options.
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    • $299,900
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      Rigby Commercial Building - High Visibility

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    • $135,000
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      Residential Land in Rigby, ID

      Land with mature trees, close to outdoor activities.
      4700 N E, Rigby, ID 83442
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    • $989,900
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      Residential Development Land in Rigby

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    • $349,500
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      4.44 Acre Land Parcel

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      55 E 55 N, Rigby, ID 83442
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    Similar Nearby for Sale

    • $2,899,900
      20,852 SF

      Modern Industrial Warehouse with Offices

      2023-built warehouse with offices, break room, and conference room.
      4118 E 667 N, Rigby, ID 83442
      View Details
    • Contact for pricing

      Commercial Land and Built-to-Suit

      2 acres of commercial land with built-to-suit options.
      3991 E 400 N, Rigby, ID 83442
      View Details
    • $299,900
      0.03 Acres

      Rigby Commercial Building - High Visibility

      Established Business, Great Location, High Traffic
      128 State St, Rigby, ID 83442
      View Details
    • $135,000
      Pending

      Residential Land in Rigby, ID

      Land with mature trees, close to outdoor activities.
      4700 N E, Rigby, ID 83442
      View Details
    • $989,900
      15.40 Acres

      Residential Development Land in Rigby

      Residential development land with 27 lots, community pond, utilities.
      Rigby, ID 83442
      View Details
    • $349,500
      4.44 Acres

      4.44 Acre Land Parcel

      4.44 acre land with water shares in Rigby, Idaho.
      55 E 55 N, Rigby, ID 83442
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Office Space Near Highway 20

      Office property with high visibility and accessibility near Highway 20.
      3991 E 400 N, Rigby, ID 83442
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      1,000 SF

      New Retail Space in Rigby

      New retail lease space with highway visibility and easy access.
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    • Contact for pricing
      12,000 SF

      Rigby Flex/Industrial Space Available

      12,000 SF flex/industrial building with highway access for lease.
      3804 E Indian Crk Rd, Rigby, ID 83442
      View Details
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    Rigby, ID 83442
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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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