Multi-Building Retail Office
For Sale
$875,000
Pending
1505 Main Street, Meridian, ID 83642
Two-building site with C-C zoning, ample parking, and monument signage, offering flexible retail or office use.
Property Size2,417 SF
Lot Size0.53 Acres
Days on Market48
Property Features for 1505 Main Street
General Information
Standard status
Pending
Size
2,417 SF
Lot size
0.53 Acres
Property subtype
Commercial
Zoning
C-C
Listing Agency:
TOK Commercial
(208) 947-0815
Listed By:
Mike Ballantyne · License #DB18541
Source:
Clearwaterproperties
Added: Jul 13
Changed: Aug 28
Last Checked: Aug 28 at 8:45AM
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 TOK Commercial
Investment Insights
Based on property information with market context.
This for-sale commercial property consists of two existing buildings totaling 2,417 SF on a 0.53-acre infill site. The layout supports immediate occupancy for retail or office users, with the added option to pursue long-term redevelopment depending on project goals.
The site is located at 1505 N Main Street in Meridian, Idaho. It features C-C (Community Business) zoning and ample parking, and the property includes monument signage for visibility.
Also available for lease and build-to-suit, the offering provides flexibility for users seeking an existing space or a tailored development approach within the established site footprint.
The site is located at 1505 N Main Street in Meridian, Idaho. It features C-C (Community Business) zoning and ample parking, and the property includes monument signage for visibility.
Also available for lease and build-to-suit, the offering provides flexibility for users seeking an existing space or a tailored development approach within the established site footprint.
Key Highlights
- Two‑building commercial site at 1505 N Main Street in Meridian with 2,417 SF total building area
- 0.53‑acre infill lot in the heart of Meridian
- C‑C (Community Business) zoning supporting a range of commercial uses
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
$35,414
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
4.05%
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%
$708,280
$708.3K
Cap Rate 7%
$505,914
$505.9K
Cap Rate 9%
$393,489
$393.5K
Market Conditions
NOI Build-Up for 2,417 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
$53.7K $22.20/SF
− Vacancy
−$6.4K −$2.66/SF
EGI
$47.2K $19.54/SF
− OpEx
−$11.8K −$4.88/SF
NOI
$35.4K $14.65/SF
Area
Meridian, ID
Vacancy
12.00%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
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%
$708,280
Cap Rate 7%
$505,914
Cap Rate 9%
$393,489
Alternative Uses
Best Use
Office B
$505.9K
$442.7K – $590.2K
NOI $35,414 @ 7.0% cap · market cap 4.05%
Second Best
Retail
$492.3K
$430.8K – $574.4K
NOI $34,462 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$637.8K
$558.1K – $744.2K
NOI $44,649 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,401
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
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 Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- The Floral Cottage — Meridian, ID 83642
- The Flower Place — 930 N Main St, Meridian, ID 83642
- Fancy Floral — 412 E Fairview Ave, Meridian, ID 83646
- Albertsons Floral — 20 E Fairview Ave, Meridian, ID 83642
Frequently Asked Questions
What type of property is this?
Storefront property - Two-building site with C-C zoning, ample parking, and monument signage, offering flexible retail or office use.
Where is this storefront property located?
The property is located at 1505 Main Street Meridian, ID.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Two‑building commercial site at 1505 N Main Street in Meridian with 2,417 SF total building area; 0.53‑acre infill lot in the heart of Meridian; C‑C (Community Business) zoning supporting a range of commercial uses
