Emerald Court
Office | 6.61% CAP | 19,531 SqFt
Marketing description
Emerald Court is a centrally located multi-tenant office investment property located at 4477 W Emerald Street in Boise’s Central Bench submarket. The 19,531 square foot building sits on 1.67 acres and offers strong visibility along Emerald Street with convenient access to Downtown Boise and the I-184 Connector. The property is 100% leased to a diverse mix of professional and service-oriented tenants, providing stable in-place income. With its central location, consistent tenancy, and proximity to major employment corridors, Emerald Court offers investors a stable office asset with long-term income potential in the Boise market.
Located in Boise’s Central Bench submarket, Emerald Court offers exceptional connectivity to Downtown Boise, Meridian, and the greater Treasure Valley via the nearby I-184 Connector. The property is surrounded by a strong mix of retail, dining, healthcare, and neighborhood amenities, supporting long-term tenant demand and occupancy stability. The Boise market continues to experience strong economic and population growth, with a diverse employment base spanning technology, healthcare, education, and professional services.
Investment highlights
- Stabilized In-Place Cash Flow with Upside: The property is 100% leased and generates $184,030 in NOI, offering immediate income at a 6.6% cap rate, with near-term lease rollover and below-market rents providing potential for future rent growth.
- Well-Located Multi-Tenant Office Asset: The 19,531 SF building sits on 1.67 acres and features flexible suite configurations and strong street visibility, supporting long-term functionality and broad tenant demand.
- Diverse and Stable Tenant Base: The property is fully leased to a mix of professional, medical, and service-oriented tenants, providing consistent occupancy and reducing reliance on any single tenant or industry.
- Central Boise Location with Strong Connectivity: The site offers prominent frontage along Emerald Street with convenient access to Downtown Boise and the I-184 Connector, supporting tenant retention and long-term leasing demand.
- Ample and Convenient On-Site Parking: Generous surface parking with easy ingress and egress enhances accessibility for both tenants and their clients, accommodating a variety of office and medical users.
- Near-term lease expirations allow the buyer to mark rents to market, driving a pro forma cap rate of 7.5%.
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