Four-Tenant Retail
For Sale
Contact for pricing
1235 East Fairview Avenue, Meridian, ID 83642
Occupied retail property with rear well and septic infrastructure supporting current operations.
Property Size3,840 SF
Price / SF$233.07
Days on Market141
Property Features for 1235 East Fairview Avenue
General Information
Standard status
Active
Size
3,840 SF
Property subtype
Retail
Zoning
C2
Building Details
Year Built
1973
Listing Agency:
Lee & Associates - Boise
(208) 401-8776
Listed By:
Trey Thomas · License #SP51767
Source:
Crexi
Added: Apr 13
Changed: Aug 30
Last Checked: Apr 24 at 10:14PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lee & Associates - Boise
Investment Insights
Based on property information with market context.
This retail property encompasses approximately 0.79 acres and is currently occupied by four tenants. The existing improvements date to 1973, providing an established physical setting for ongoing retail operations. A well and septic system are positioned at the rear of the property and support the current use.
Located at 1235 E Fairview Ave in Meridian, Idaho, the property combines an occupied retail configuration with existing site infrastructure. Its layout and parcel size may accommodate future repositioning or redevelopment for retail or other commercial purposes, subject to applicable approvals.
Located at 1235 E Fairview Ave in Meridian, Idaho, the property combines an occupied retail configuration with existing site infrastructure. Its layout and parcel size may accommodate future repositioning or redevelopment for retail or other commercial purposes, subject to applicable approvals.
Key Highlights
- Approximately 0.79‑acre retail property
- Currently occupied by four tenants
- Well and septic system located at the rear
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
$54,751
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
6.12%
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%
$1,095,020
$1.1M
Cap Rate 7%
$782,157
$782.2K
Cap Rate 9%
$608,344
$608.3K
Market Conditions
NOI Build-Up for 3,840 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
$82.9K $21.60/SF
− Vacancy
−$4.7K −$1.23/SF
EGI
$78.2K $20.37/SF
− OpEx
−$23.5K −$6.11/SF
NOI
$54.8K $14.26/SF
Area
Meridian, ID
Vacancy
5.70%
Lease Rate
$21.60 /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%
$1,095,020
Cap Rate 7%
$782,157
Cap Rate 9%
$608,344
Alternative Uses
Best Use
Retail
$782.2K
$684.4K – $912.5K
NOI $54,751 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$886.7K – $1.18M
NOI $70,936 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
843
Businesses Nearby
241k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 29%
Dining 29%
Shops & Services 16%
Home Improvements & Furnishings 15%
Fred Meyer
Groceries
70,808 visits/mo
0.4 miles
D&B Supply
Home Improvements & Furnishings
37,192 visits/mo
0.4 miles
McDonald's
Dining
21,071 visits/mo
0.3 miles
Goodwill
Apparel
19,504 visits/mo
0.2 miles
Dutch Bros. Coffee
Dining
19,308 visits/mo
0.1 miles
Demographics for 83642, ID
55,465
Population
22,700
Households
2.4
Avg Household Size
35
Median Age
44%
College-Educated
95%
High-School Grad
41.5 sq mi
ZIP Area
1,337
Density / Sq Mi
$96,361
Median Household Income
$45,824
Median Earnings
$1,629
Median Rent
$492,300
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Occupied retail property with rear well and septic infrastructure supporting current operations.
Where is this retail space located?
The property is located at 1235 East Fairview Avenue Meridian, ID.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Approximately 0.79‑acre retail property; Currently occupied by four tenants; Well and septic system located at the rear
