3515 State StBoise, ID 83703

Property Details for 3515 State St

Year built

1961

Lot size

0.99 AC

Property size (Sq ft)

4,043 SF

Zone code

C-2D

Property type

Commercial real estate

APN

S0632417243

APU

S0632417243

Description

This 1-acre parcel in Boise, ID (APN S0632417243), zoned MX-3, presents a unique development opportunity. Priced at $2,100,000, the property includes complete entitlements, a topographic survey, engineering, architecture, and a full set of building plans for a 40-unit apartment complex. Initial permit review costs have already been paid, with plans submitted to the City of Boise in May and progressing through the approval process. The site boasts a high traffic count of 31,000 vehicles per day (VPD) and benefits from its location on State Street, the first major corridor in Boise to implement a Bus Rapid Transit program, providing frequent bus service. Full renderings are available. Additionally, the property includes land rights to a dual-sided billboard with Lamar Advertising, generating an average annual profit of $12,421 through 2037. Alternatively, the existing 4,043 square foot building could be repurposed as a turn-key bar and grill, making this a versatile investment for various commercial ventures. This prime location and comprehensive development package offer significant potential for immediate returns and long-term growth.

• Alternative Use

  Use

  Valuation

  Residential

  $942,968

  Hospitality

  $863,754

  Educational

  $718,633

  Medical

  $743,348

  Retail

  $1,117,873

Location Insight

City

Boise

County

Ada

State

Idaho

Latitude

43.6381

Longitude

-116.234

CBSA code

14260

CBSA name

BOISE CITY-NAMPA, ID METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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