Boise, ID office market
The Downtown Boise office market is thinly traded, with total office sales volume of only $24.8 million recorded through mid-2025, well below historical averages, and most deals driven by owner-users and medical office buyers. Overall office vacancy in Boise rose to approximately 6.5% in Q2 2025 due to vacated owner-user spaces, though this remains well below the national average and supports relative pricing stability. Class A asking rents in Boise averaged $24.30 per square foot in 2024, with rent growth a modest 1.0% year-over-year through mid-2025. The target property - City Center Plaza/US Bank Plaza - is a 276,099 SF, 19-story Class A tower and one of the most prominent office assets in the Boise CBD, but comparable large-block CBD office sales are extremely scarce in the 24-month comp window.
What's driving Office prices in Boise
Downtown Boise office sale prices have trended flat to slightly downward over the past 24 months as sales volume dried up, buyer pools thinned, and owner-user deals dominated the few closed transactions, though the market has avoided the severe distress seen in larger CBDs.
- Rising office vacancy driven by vacated owner-user spaces, with downtown Boise vacancy climbing to 6.5% in Q2 2025 and net absorption remaining negative at -110,000 SF
- Extremely low office sales volume ($24.8M total through mid-2025) creating illiquid market and wide bid-ask spreads, suppressing achievable sale prices
- Strong Boise MSA population and job growth - including Micron fab investment - supporting long-term tenant demand and limiting distress relative to other CBDs
- Scarcity of large-block Class A downtown office transactions makes pricing discovery difficult and elevates risk premium for buyers of high-rise assets
Building permits in Boise
Filed each month
How long until they’re issued
Share of permits issued by days since filing. The red dot is where half are issued.
What it says
Next to Meridian and Nampa
| City | A month | Build-out wait | New-building wait |
|---|---|---|---|
| Boise | 71 | 53 days | 100 days |
| Meridian | 30 | 56 days | – |
| Nampa | 15 | – | – |
From Boise’s building permit portal, read every weekday morning: October 2025 through September 2026. Every commercial permit, of every property type. The wait is read from how many permits of each age are issued today, so it assumes the city kept a steady pace. See each permit with a free account →
Market intelligence
Tracking this market since Jul 2026 · 13 comps · latest deal May 2026.
This quarter: 0 comps added to our corpus in Q4 2026. Trend medians use closed-deal dates from our growing comp corpus; automated estimates, not an appraisal.
Where these comps are
Momentum ContractingPins are geocoded from each comp's public address, so positions are approximate. Comps quoted at the submarket level aren't pinned.
Recent Office comps in Boise, ID
| Address | Date | Type | Size (SF) | Price / Rate | $/SF |
|---|---|---|---|---|---|
| 950 W Bannock St, Boise, ID 83702 estimate | May 2026 | Sale | 20000 | $4,000,000 | $200.00 |
| 12754 LaSalle St, Boise, ID listing | Mar 2026 | Sale | 16940 | ||
| Adelmann Building, Downtown Boise, ID 83702 listing | 2025 | Sale | $4,600,000 | ||
| Downtown Boise Office Condo (Story Commercial listing), Boise, ID 83702 listing | 2025 | Sale | 2200 | $703,000 | $319.55 |
| 8100 Emerald St, Maple Grove-Franklin, Boise, ID listing | 2025 | Sale | 17486 | $3,245,000 | $185.58 |
| Downtown Salt Lake City High-Rise Office (appraisal comp for City Center Plaza) public record | Jan 2024 | Sale | 261538 | $44,200,000 | $169.00 |
| Median of 4 recent sales · $193/SF | $193 | ||||
No comps in this filter.
Our verified comp layer for this market includes comps contributed by local brokers: Hawkins Ridge CRE. Are you a broker in Boise? Submit a comp.
What's your office property worth?
Get a free, instant estimate from recent comps, with the source cited on every one.
Other markets
Figures are automated estimates derived from public listings, records, and brokerage announcements for Boise, ID, not an appraisal or a broker opinion of value. Verify independently before relying on them. CompNinja connects owners with licensed local brokers; it is not a brokerage.