property details

408 w idaho st

boise, id 83702

• freestanding office in the

heart of downtown boise

• currently 2900sf office

leased by z data on month

to month basis at $7000/mo

flsv (includes parking)

• basement apartment rented

at $475/mo

• 12 off-street parking spaces

• zoned C-5DD

P2 parking overlay

0.17 acres (61.5’ x 122’)

size 3711sf

asking price $995,000

(6.3% cap rate)

downtown office for sale

***do not disturb tenants. contact agent for showings.***

property financials

2019 2020

Base Rent Square Feet Annual Rent Annual Rent

Residential Tenant 811 5,700$ 5,700$

Z Data - Office 2900 60,960$ 84,000$

Parking 0 2,125$ -$

Potential Base Rental Income: 3,711 68,785$ 89,700$

Property Taxes, Insurance, and CAM Income

Other Income -$ -$

Subtotal: -$ -$

68,785$ 89,700$

- Vacancy/Credit Loss (5%) 3,439$ 4,485$

65,346$ 85,215$

+ Other Income -$ -$

Gross Operating Income: 65,346$ 85,215$

- Annual Operating Expenses

Property Taxes 7,786$ 8,020$

Hazard Insurance (estimate) 1,000$ 1,030$

Utilities 6,440$ 6,634$

Maintenance & Repair 504$ 519$

Internet 5,334$ 5,494$

Miscellaneous -$ 750$

Total Expenses: 21,064$ 22,446$

TOTAL ANNUAL EXPENSES 21,064$ 22,446$

NET OPERATING INCOME 44,282$ 62,769$

*2020 expenses estimated at 3% over 2019 actual expenses

Annual Property Operating DataZ Data, 408 W Idaho St, Boise, ID

Income

Total Potential Rental Income:

Effective Operating Income:

demographics

Summary 1 mile 2 mile 3 mile

Population 13,183 46,138 88,213

Households 6,767 22,481 41,300

Families 1,826 8,835 18,471

Average Household Size 1.69 1.94 2.07

Owner Occupied Housing Units 1,524 9,370 19,692

Renter Occupied Housing Units 5,244 13,111 21,609

Median Age 31.0 34.7 36.2

Median Household Income $30,827 $43,267 $46,301

Average Household Income $57,811 $73,826 $74,744

vicinity map

nearby developments under construction & proposed

11th & Idaho – office building 11th & Bannock – urban park

11th & Idaho, 10 stories, 191,000sf Urban park planned for the corner of 11th & Bannock.

Photo courtesy of www.11idaho.com Photo courtesy of CCDC

502 W Front St – hotel & parking garage 323 W Broad St – apartments & parking garage

Home 2 Suites, 140 hotel rooms, 600 space parking garage The Cartee, 163 apartment units, 8 stories, 183 parking spaces

Photo courtesy of Design Review Submittal Photo courtesy Design Review Submittal

600 W Front St – apartments & retail 200 W Myrtle St – apartments, garage, retail

The Vanguard, 75 apartment units + retail, 8 stories Boise Caddis, 8 stories, 174 apartment units, 413 parking spaces

Photo courtesy of visumdevelopment.com Photo courtesy of rivercaddis.com

nearby developments under construction & proposed

620 S 9th St – condos, retail & garage 2619 W Fairview Ave – hospital & garage

The Afton, 6 stories, 63 units, retail & parking St. Luke’s, 230,000sf orthopedic hospital, ~600 space garage

Photo courtesy of Design Review Submittal Photo Courtesy of Design Review Submittal

749 E Park Blvd – apartments & garage 400 N 4th St – apartments, office, retail, parking

Park Place Apts, 5 stories, 236 units, 356 parking spaces ICCU, 161k sf office, 39 apts, 15k sf retail, 460 parking spaces

Photo courtesy of Design Review Submittal Photo courtesy of Conditional Use Submittal

512 W Grove St – restaurant & residential 270 E Myrtle St – apartments & garage

6 stories, restaurant 1st floor & 114 apartment units Collegiate Dev., 7 stories, 258 units, retail & parking

Photo courtesy of Design Review Submittal & Pivot North Photo Courtesy of Design Review Submittal