Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3103 W Milano Dr Meridian, ID 83646

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $50 SF/Yr

    Newly constructed retail building with drive-through, ideal for financial services.

    Building Details

    Year built
    2024

    We can help!

    Listing Contact
    Holly Chetwood, Ccim
    Holly Chetwood, Ccim
    Source: Tokcommercial

    Listing Agency: TOK Commercial - Boise Listing Agent: Holly Chetwood, Ccim

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    New Retail Building with Drive-Through

    This newly constructed retail building offers strong visibility and convenient access. The modern layout is designed for efficient operations. Formerly configured as a restaurant with a drive-through, the space is well suited for a bank, credit union, or financial services provider seeking a high-traffic location. The drive-through configuration supports high-volume customer use. Located off Ten Mile and McMillan, the property is available immediately, providing a turnkey opportunity for businesses looking to establish a prominent presence in the growing Meridian market.
    Location Intelligence

    Current Use by Public Records

    Noodles & Company Restaurant Noodles and Company Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Meridian
    County
    Ada
    State
    Idaho
    Longitude
    -116.4323183
    Latitude
    43.6503843

    Nearby Similar for Lease

    • Contact for pricing

      ID, Meridian - The Village at Meridian

      Discover many ways to work your way in IL, Oak Brook - Oak Brook Pointe
      3597 Monarch Sky Ln, Meridian, ID 83646
      View Details
    • Sponsored
      Contact for pricing

      ID, Meridian - W Overland Road

      Workspaces, services and support to help you work better in Frisco Square
      943 Overland Rd 1Rst, Meridian, ID 83642
      View Details
    • $176,000
      8,000 SF

      Meridian Office/Medical Space For Rent

      8,000 sq ft Meridian office or medical space for rent.
      965 E Ustick Rd, Meridian, ID 83646
      View Details
    • $27 SF/Yr
      5,904 SF

      Prime Meridian Retail/Office Space

      Exceptional property in Meridian, ID, ideal for retail or office.
      2847 N Eagle Rd, Meridian, ID 83646
      View Details
    • Contact for pricing

      Premier Office Space at Meridian Village

      Luxurious office spaces in Idaho's premier shopping and entertainment destination.
      3597 E Monarch Sky Ln, Meridian, ID 83646
      View Details
    • $26 SF/Yr
      535 SF

      Retail Space in Meridian, ID

      Retail space available for lease in Meridian, Idaho.
      3648-3624 N Centrepoint Way, Meridian, ID 83646
      View Details
    • $24 SF/Yr

      LEED Silver Certified Office Space

      Prime commercial space near St. Luke’s with signage potential.
      3330 E Louise Dr, Meridian, ID 83642
      View Details
    • $25 SF/Yr

      Prime Location Office Space

      Office space in Treasure Valley's fast-growing region, close to amenities.
      1860 S Wells Ave, Meridian, ID 83642
      View Details
    • Contact for pricing

      High-Traffic Meridian Crossroads Retail Space

      Large shopping center at Idaho's busiest intersection.
      3355 East Fairview Ave, Meridian, ID 83642
      View Details
    • Contact for pricing

      Prime Meridian Location with Visibility

      High-visibility Meridian location near The Village, ideal for retail/office.
      1441 N Eagle Rd, Meridian, ID 83642
      View Details
    • $2,300 /Mo
      11,300 SF

      Move-in Ready Meridian Office Suite

      Office suite in Meridian with private offices and open area.
      Office For Sublease, Meridian, ID 83642
      View Details
    • $38 SF/Yr

      Retail Drive-Thru Opportunity Available

      Retail drive-thru in Meridian Opportunity Zone, new retail development.
      2295 E Fairview Ave, Meridian, ID 83642
      View Details

    FAQs

    What type of property is this?
    Bank - Newly constructed retail building with drive-through, ideal for financial services.
    Where is this bank located?
    The property is located at 3103 W Milano Dr Meridian, ID.
    What is the lease rate?
    The lease rate is $50 SF/Yr.
    What are key features of this property?
    This property features: - **Strong visibility and easy access** at the corner of Ten Mile and McMillan.; - Newly constructed retail building (built in 2024).; - **Turnkey opportunity available immediately.**
    (208) 947-0827
    Request Owner's contact information
    3103 W Milano Dr Meridian, ID 83646
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3103 W Milano Dr
    Meridian, ID 83646
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3103 W Milano Dr Meridian, ID 83646
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Holly Chetwood, Ccim
    Holly Chetwood, Ccim
    Real Estate License ID: SP39024
    (208) 947-0827 (208) 378-4600
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!