Emerald Square
Office Investment/User Opportunity with Upside
Marketing description
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 56% 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 1,995 to 7,804 square feet. Offered at $5,759,000 ($150/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.
Emerald Square is strategically located at 4355 W. Emerald Street in Boise’s highly desirable Central Bench submarket, offering exceptional connectivity and accessibility. Positioned just minutes from the I-184 Connector and Downtown Boise, the property provides convenient access to major employment centers, retail corridors, and residential neighborhoods.
Investment highlights
- Income Producing Opportunity - Great for owner/user with income from other tenants.
- Attractive Basis - Offered at $150/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.
- Strategic Boise Bench Location - Positioned on Emerald Street in Boise's Central Bench submarket, with immediate access to the 1-184
- 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.
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