Fourplex with Attached
For Sale
$1,195,000
Pending
3710 N Centrepoint Way Bldg Q, Meridian, ID 83646
MULTI_FAMILY - Meridian, ID
Property Size6,610 SF
Days on Market49
Property Features for 3710 N Centrepoint Way Bldg Q
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
12
Bathrooms
12
Full bathrooms
12
Rooms
Bedroom 7, Bathroom 4, Bathroom 3, Bathroom 8, Bedroom 2, Bedroom 4, Bedroom 9, Bedroom 6, Bathroom 6, Bedroom 5, Bedroom 10, Bedroom 3, Bathroom 1, Bathroom 10, Bathroom 11, Bedroom 12, Bathroom 12, Bedroom 11, Bedroom 1, Bathroom 2, Bathroom 7, Bathroom 5, Bedroom 8, Bathroom 9
Parking
8
Appliances
Disposal (All Units), Stove/Range (All Units), Refrigerator (All Units)
Subdivision
Non Applicable
Lot features
Small Lot 5999 S F, Sidewalks
Elementary school
Discovery
Middle school
Heritage Middle School
High school
Rocky Mountain
Elementary school district
West Ada School District
Middle school district
West Ada School District
High school district
West Ada School District
Directions
Off Eagle Rd just North of Hobby Lobby
Standard status
Pending
APN
R1077140050
Size
6,610 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 05 Blk 01 Brickyard Sub No 01
Tax Annual Amount
5070
HOA Fee
$832 Monthly
Legal Description
Lot 05 Blk 01 Brickyard Sub No 01
Utilities
Cooling system
Central Air
Amenities
clubhouse
pool
fitness center
park
Building Details
Year built
2019
Number of units
4
Flooring type
Vinyl
Building materials
Brick, Frame, Stucco
Roof type
Composition
Listing Agency:
Silvercreek Realty Group
(208) 377-0422
Listed By:
Peter Hitt
(208) 315-2287
Added: Jun 25
Changed: Aug 1
Last Checked: Aug 12 at 9:06AM
MLS# 98991605
Copyright © 2026 Intermountain Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This like-new fourplex offers a practical four-unit income setup with attached garages for each residence. The property totals 6,610 square feet and was built in 2019. Each of the four units features three bedrooms and 2.5 bathrooms, with appliances including a disposal, stove/range, and refrigerator (all units). Interior finishes include vinyl flooring, and cooling is provided by central air. Construction materials include brick, frame, and stucco, with a composition roof.
The community offers shared amenities that include a clubhouse, pool, fitness center, and park. The property is positioned just west of Eagle Road in central Meridian.
The community offers shared amenities that include a clubhouse, pool, fitness center, and park. The property is positioned just west of Eagle Road in central Meridian.
Key Highlights
- Built in 2019 fourplex totaling 6,610 square feet
- Four units fully leased to stable tenants
- Each unit offers three bedrooms and 2.5 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$71,809
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.01%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,436,180
$1.4M
Cap Rate 7%
$1,025,843
$1.0M
Cap Rate 9%
$797,878
$797.9K
Market Conditions
NOI Build-Up for 6,610 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$107.1K $16.20/SF
− Vacancy
−$4.5K −$0.68/SF
EGI
$102.6K $15.52/SF
− OpEx
−$30.8K −$4.66/SF
NOI
$71.8K $10.86/SF
Area
Meridian, ID
Vacancy
4.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,436,180
Cap Rate 7%
$1,025,843
Cap Rate 9%
$797,878
Alternative Uses
Best Use
Multifamily LT 5
$1.03M
$897.6K – $1.20M
NOI $71,809 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$947.3K
$828.9K – $1.11M
NOI $66,310 @ 7.0% cap · market cap 5.55%
Theoretical Best
Office A
$1.74M
$1.53M – $2.04M
NOI $122,105 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
571
Businesses Nearby
Explore this area
Business Placement
Demographics for 83646, ID
69,818
Population
26,829
Households
2.6
Avg Household Size
36
Median Age
44%
College-Educated
96%
High-School Grad
27.3 sq mi
ZIP Area
2,557
Density / Sq Mi
$101,040
Median Household Income
$47,397
Median Earnings
$1,814
Median Rent
$488,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Like-new fourplex with four fully leased units, each with attached garages, plus clubhouse, pool, and fitness center amenities.
Where is this quadplex located?
The property is located at 3710 N Centrepoint Way Bldg Q Meridian, ID.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Built in 2019 fourplex totaling 6,610 square feet; Four units fully leased to stable tenants; Each unit offers three bedrooms and 2.5 bathrooms
