Meridian Retail/Flex Building For
For Sale
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3131 E Lanark St, Meridian, ID 83642
9,072 SF retail/flex building in Meridian, Idaho for sale.
Property Size9,072 SF
Lot Size0.79 Acres
Price / SF$361.88
Days on Market147
Property Features for 3131 E Lanark St
General Information
Standard status
Active
Size
9,072 SF
Lot size
0.79 Acres
Property subtype
Retail
Zoning
C-G
Occupancy
100%
Investment Type
Stabilized
Building Details
Year Built
1979
Year Renovated
2025
Listing Agency:
NAI Select
(208) 229-6019
Listed By:
Mike Erkmann · License #ID SP36834
Source:
Crexi
Added: Mar 19
Changed: Aug 8
Last Checked: Aug 11 at 8:57AM
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 NAI Select
Investment Insights
Based on property information with market context.
Located at 3131 E Lanark St in Meridian, ID, this 9,072 SF freestanding retail/flex building was built in 1979. The property is zoned C-G and occupies approximately 0.79 acres. It features Eagle Road frontage with high visibility and traffic counts. Onsite parking is available for tenants and guests. The property is 100% occupied and offers a low-maintenance investment opportunity for retail/street retail investors. Its location provides easy access to major transportation arteries. The area surrounding the property offers a dynamic environment for retail success, situated in a rapidly growing city just minutes from The Village at Meridian. This location provides opportunities to attract customers and engage with the local community.
Key Highlights
- High‑visibility Eagle Road frontage with high traffic counts
- 100% occupied, low‑maintenance investment opportunity
- Zoned C‑G for retail/street retail use
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
$129,350
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
3.94%
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%
$2,587,000
$2.6M
Cap Rate 7%
$1,847,857
$1.8M
Cap Rate 9%
$1,437,222
$1.4M
Market Conditions
NOI Build-Up for 9,072 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
$196.0K $21.60/SF
− Vacancy
−$11.2K −$1.23/SF
EGI
$184.8K $20.37/SF
− OpEx
−$55.4K −$6.11/SF
NOI
$129.4K $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%
$2,587,000
Cap Rate 7%
$1,847,857
Cap Rate 9%
$1,437,222
Alternative Uses
Best Use
Retail
$1.85M
$1.62M – $2.16M
NOI $129,350 @ 7.0% cap · market cap 3.94%
Second Best
Flex RnD
$1.31M
$1.15M – $1.53M
NOI $91,636 @ 7.0% cap · market cap 2.79%
Theoretical Best
Office A
$2.39M
$2.09M – $2.79M
NOI $167,585 @ 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
1,387
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
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 9,072 SF retail/flex building in Meridian, Idaho for sale.
Where is this retail space located?
The property is located at 3131 E Lanark St Meridian, ID.
What is the asking price?
The asking price for this property is $3,283,000.
What are key features of this property?
This property features: High‑visibility Eagle Road frontage with high traffic counts; 100% occupied, low‑maintenance investment opportunity; Zoned C‑G for retail/street retail use
