3515 State StBoise, ID 83703

For Sale
$2,100,000

Shovel-ready, 40-unit apartment potential

Overview

Added:
Dec 11, 2024
Days on market:
95
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.

Highlights

  • High-traffic location with 31,000 vehicles per day (VPD).
  • Prime location on State Street, Boise's first Bus Rapid Transit (BRT) corridor, offering frequent weekday bus service.
  • Detailed architectural renderings available.
  • Includes a 2-sided billboard generating $12,421 annual income, contract through 2037.
  • Suitable for restaurant use, featuring a 4,043 SF turnkey bar and grill.

Property Details for 3515 State St

Property type
Other land, Land
Lot Size (sq. ft)
43,560 SF

Location Insight

City
Boise
County
Ada
State
Idaho
Latitude
43.638351825967
Longitude
-116.23298510071
3515 State St, Boise, Idaho

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3515 State St
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