Medical Office
For Sale
$3,300,000
1588 W Cayuse Creek Drive, Meridian, ID 83646
Commercial Sale, Meridian, ID
Property Size8,447 SF
Lot Size0.39 Acres
Price / SF$390.67
Days on Market67
Property Features for 1588 W Cayuse Creek Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
City of Meridian-L-O
Lot features
10000 S F - .49 Acre
Standard status
Active
APN
R6905260140
Size
8,447 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Description
Lot 14 in Block 1 of Paramount Village Center Subdivision, according to the official plat thereof, filed in Book 95 of Plats at Pages 11665 through 11668, official records of Ada county, Idaho
Legal Description
Lot 14 in Block 1 of Paramount Village Center Subdivision, according to the official plat thereof, filed in Book 95 of Plats at Pages 11665 through 11668, official records of Ada county, Idaho
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Building Details
Year built
2017
Flooring type
Concrete
Building materials
Masonry, Stucco, Stone
Roof type
Composition
Listing Agency:
Better Homes & Gardens 43North · Better Homes and Gardens Real Estate
(208) 381-8000
Listed By:
Sanel Tucakovic · License #SP41574
(208) 631-8372
Added: Jul 9
Changed: Sep 13
Last Checked: Sep 13 at 6:06PM
MLS# 98993303
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.
Built in 2017, this 8,447-square-foot medical office building occupies a 0.39-acre site and includes a reception and waiting area, exam rooms, private offices, and on-site parking. The structure uses masonry, stucco, and stone construction with concrete flooring, a composition roof, natural gas forced-air heating, and central air conditioning.
The property is located in Meridian near established businesses, expanding residential areas, and major commuter routes. Its layout is suited to medical, dental, or professional office use, with separate reception, clinical, and office areas supporting a range of professional operations.
The property is located in Meridian near established businesses, expanding residential areas, and major commuter routes. Its layout is suited to medical, dental, or professional office use, with separate reception, clinical, and office areas supporting a range of professional operations.
Key Highlights
- 8,447‑square‑foot medical office building on a 0.39‑acre site
- Built in 2017
- Reception and waiting area, exam rooms, and private offices
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
$123,765
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
3.75%
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%
$2,475,300
$2.5M
Cap Rate 7%
$1,768,071
$1.8M
Cap Rate 9%
$1,375,167
$1.4M
Market Conditions
NOI Build-Up for 8,447 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
$187.5K $22.20/SF
− Vacancy
−$22.5K −$2.66/SF
EGI
$165.0K $19.54/SF
− OpEx
−$41.3K −$4.88/SF
NOI
$123.8K $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%
$2,475,300
Cap Rate 7%
$1,768,071
Cap Rate 9%
$1,375,167
Alternative Uses
Best Use
Office B
$1.77M
$1.55M – $2.06M
NOI $123,765 @ 7.0% cap · market cap 3.75%
Second Best
Healthcare Medical
$1.63M
$1.43M – $1.91M
NOI $114,339 @ 7.0% cap · market cap 3.46%
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $156,040 @ 7.0% cap · market cap 4.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
403
Businesses Nearby
Balanced
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Purpose-built medical office layout with reception, exam rooms, private offices, and on-site parking.
Where is this medical office space located?
The property is located at 1588 W Cayuse Creek Drive Meridian, ID.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: 8,447‑square‑foot medical office building on a 0.39‑acre site; Built in 2017; Reception and waiting area, exam rooms, and private offices
