Class A Industrial with
For Sale
$34,890,000
2499 E Pine Ave, Meridian, ID 83642
New concrete tilt facility combining distribution capacity with corporate office space and full HVAC throughout.
Property Size209,343 SF
Days on Market64
Property Features for 2499 E Pine Ave
General Information
Standard status
Active
Size
209,343 SF
Class
A
Property subtype
Industrial
Warehouse & Industrial
Dock-High Doors
18
Drive-In Doors
1
Additional Details
Highway Access
Yes
Building Details
Building Size
209,343 SF
Year Built
2022
Listing Agency:
(208) 947-0859
Listed By:
Chris Pearson, SIOR
Source:
Tokcommercial
Added: Jun 9
Changed: Aug 8
Last Checked: Jun 12 at 1:37AM
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 Chris Pearson, SIOR
Investment Insights
Based on property information with market context.
This newly constructed Class A industrial property is built as a concrete tilt facility designed to support both warehouse/distribution operations and corporate office use. The configuration is built for institutional-quality functionality, with HVAC throughout the building to provide year-round climate control.
The property is located in Meridian, Idaho within the Treasure Valley’s industrial corridor. It offers convenient access just off Eagle Road with immediate connectivity to Interstate 84 and the broader Treasure Valley area. Loading capacity includes 18 dock-high doors plus one grade-level door served by a drive-up ramp. The fully equipped loading area features dock levelers, shelters, and bumpers at every dock position.
The building is well suited to tenants seeking a modern, headquarters-and-distribution style facility with robust loading infrastructure. The combination of warehouse/distribution space, corporate office space, drive-up loading capability, and full HVAC supports day-to-day operational needs for a wide range of industrial and flex users.
The property is located in Meridian, Idaho within the Treasure Valley’s industrial corridor. It offers convenient access just off Eagle Road with immediate connectivity to Interstate 84 and the broader Treasure Valley area. Loading capacity includes 18 dock-high doors plus one grade-level door served by a drive-up ramp. The fully equipped loading area features dock levelers, shelters, and bumpers at every dock position.
The building is well suited to tenants seeking a modern, headquarters-and-distribution style facility with robust loading infrastructure. The combination of warehouse/distribution space, corporate office space, drive-up loading capability, and full HVAC supports day-to-day operational needs for a wide range of industrial and flex users.
Key Highlights
- 2022‑built concrete tilt industrial building in North Meridian
- High‑capacity loading: 18 dock‑high doors plus 1 grade‑level door with drive‑up ramp
- Fully equipped loading area with dock levelers, shelters, and bumpers at every dock position
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
$3,067,294
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
8.79%
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%
$61,345,880
$61.3M
Cap Rate 7%
$43,818,486
$43.8M
Cap Rate 9%
$34,081,044
$34.1M
Market Conditions
NOI Build-Up for 209,343 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
$4.65M $22.20/SF
− Vacancy
−$557.7K −$2.66/SF
EGI
$4.09M $19.54/SF
− OpEx
−$1.02M −$4.88/SF
NOI
$3.07M $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%
$61,345,880
Cap Rate 7%
$43,818,486
Cap Rate 9%
$34,081,044
Alternative Uses
Best Use
Office B
$43.82M
$38.34M – $51.12M
NOI $3,067,294 @ 7.0% cap · market cap 8.79%
Second Best
Flex RnD
$30.21M
$26.43M – $35.24M
NOI $2,114,574 @ 7.0% cap · market cap 6.06%
Theoretical Best
Office A
$55.25M
$48.34M – $64.45M
NOI $3,867,151 @ 7.0% cap · market cap 11.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18
Dock-high doors
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
726
Businesses Nearby
Well-served
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
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Flex space - New concrete tilt facility combining distribution capacity with corporate office space and full HVAC throughout.
Where is this flex space located?
The property is located at 2499 E Pine Ave Meridian, ID.
What is the asking price?
The asking price for this property is $34,890,000.
What are key features of this property?
This property features: 2022‑built concrete tilt industrial building in North Meridian; High‑capacity loading: 18 dock‑high doors plus 1 grade‑level door with drive‑up ramp; Fully equipped loading area with dock levelers, shelters, and bumpers at every dock position
