Emerald Square

Investment Overview

Emerald Square is offered for sale or lease, presenting a compelling investment or owner-user opportunity to occupy a significant portion of the 38,396-square-foot multi-tenant office building while generating income from existing in-place tenants. Currently 62% leased, the property allows a buyer to step into immediate cash flow and offset occupancy costs with rental revenue, while utilizing available suites ranging from ~1,500 to 7,804 square feet. Offered at $5,375,000 ($140/SF)—well below replacement cost—the asset features clear mark-to-market potential and a defined path to NOI growth through lease-up and rental rate increases, all situated on a 2.43-acre site with R-1C zoning in Boise’s established Central Bench corridor.

Investment Highlights

• Income Producing Opportunity - Great for owner/user with income from other tenants.
• Attractive Basis – Offered at $140/SF, below replacement cost, providing a compelling entry point within a high-demand submarket.
• Recent Capital Improvements – New Daikin Mammoth 91-ton HVAC RTU installed September 2024, representing a $350,000 capital investment.
• Common Area Improvements Underway - Common areas are currently being updated with new lighting, flooring, and paint, enhancing the overall tenant experience and property appeal.
• Strategic Boise Bench Location – Positioned on Emerald Street in Boise’s Central Bench submarket, with immediate access to the I-184 Connector and Downtown Boise, supporting strong tenant demand and regional connectivity.
• Embedded Rental Upside – Opportunity to grow NOI by marking in-place rents to market over time, supported by current vacancy and near-term lease roll that provide a clear path to capture upside.
• 2.43 Acre Lot – Zoned R-1C (Residential Traditional), and with neighboring commercial properties, future rezoning consideration can be explored.