Commercial Land with Existing
New
For Sale
$299,000
2630 E Franklin Rd, Meridian, ID 83642
Commercial Sale, Meridian, ID
Property Size2,055 SF
Lot Size0.74 Acres
Price / SF$145.50
Days on Market2
Property Features for 2630 E Franklin Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
1/2 - .99 Acre
Standard status
Active
APN
S1108438470
Size
2,055 SF
Lot size
0.74 Acres
Listing Agency:
Homes of Idaho
(208) 442-8500
Listed By:
Kent Corbett · License #SP23628
(208) 941-1868
Added: Sep 14
Last Checked: Sep 15 at 7:06PM
MLS# 99000805
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.
This 0.74-acre commercial land parcel includes an existing 2,055-square-foot residence. The property carries a Commercial future land use designation, while any conversion or additional development remains subject to applicable approvals. The site also offers room for vehicle, equipment, or material storage.
Located on E Franklin Rd in Meridian, the property records approximately 19,614 VPD according to ITD data from 2024. Access to I-84 supports connections throughout the Treasure Valley. An adjoining 4.34-acre parcel to the west is also available and is scheduled for sale on the same day.
Located on E Franklin Rd in Meridian, the property records approximately 19,614 VPD according to ITD data from 2024. Access to I-84 supports connections throughout the Treasure Valley. An adjoining 4.34-acre parcel to the west is also available and is scheduled for sale on the same day.
Key Highlights
- 0.74‑acre commercial land parcel
- Existing 2,055 SF residence
- Commercial future land use designation
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
$26,941
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
9.01%
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%
$538,820
$538.8K
Cap Rate 7%
$384,871
$384.9K
Cap Rate 9%
$299,344
$299.3K
Market Conditions
NOI Build-Up for 2,055 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
$46.9K $22.80/SF
− Vacancy
−$3.7K −$1.82/SF
EGI
$43.1K $20.98/SF
− OpEx
−$16.2K −$7.87/SF
NOI
$26.9K $13.11/SF
Area
Meridian, ID
Vacancy
8.00%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
37.50%
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%
$538,820
Cap Rate 7%
$384,871
Cap Rate 9%
$299,344
Alternative Uses
Best Use
Office B
$430.1K
$376.4K – $501.8K
NOI $30,110 @ 7.0% cap · market cap 10.07%
Second Best
Mixed Use
$384.9K
$336.8K – $449.0K
NOI $26,941 @ 7.0% cap · market cap 9.01%
Theoretical Best
Office A
$542.3K
$474.5K – $632.7K
NOI $37,962 @ 7.0% cap · market cap 12.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,198
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Commercial future land use designation paired with an existing residence and space for storage, subject to required approvals.
Where is this commercial land located?
The property is located at 2630 E Franklin Rd Meridian, ID.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 0.74‑acre commercial land parcel; Existing 2,055 SF residence; Commercial future land use designation
