Office Building with Suite
For Sale
$1,699,999
3169 W Belltower Dr, Meridian, ID 83646
Modern office improvements support a single occupant or two-suite configuration.
Property Size3,550 SF
Price / SF$478.87
Days on Market45
Property Features for 3169 W Belltower Dr
General Information
Standard status
Active
Size
3,550 SF
Class
Class A
Building Details
Year Built
2024
Buildings
1
Listing Agency:
208 properties Realty Group
(208) 830-1540
Listed By:
Neal Elliott
(208) 830-1540
Source:
Exprealty
Added: Jul 9
Changed: Aug 22
Last Checked: Aug 22 at 2:00AM
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 208 properties Realty Group
Investment Insights
Based on property information with market context.
Completed in 2024, this 3,550-square-foot office building features a 16-foot entry, custom millwork, quartz countertops, cabinetry, abundant natural light, and extensive interior glass. The interior layout can accommodate one user or be divided into two suites, providing flexibility for an owner-user or investor. A full appliance package is included.
The property is located in Meridian with access to major roads, restaurants, shopping, and professional services. Its design combines a prominent entry with contemporary interior finishes suited to a professional office setting.
The property is located in Meridian with access to major roads, restaurants, shopping, and professional services. Its design combines a prominent entry with contemporary interior finishes suited to a professional office setting.
Key Highlights
- 3,550 SF office building completed in 2024
- 16‑foot entry with extensive interior glass
- Custom millwork, quartz countertops, and cabinetry
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
$52,015
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
3.06%
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%
$1,040,300
$1.0M
Cap Rate 7%
$743,071
$743.1K
Cap Rate 9%
$577,944
$577.9K
Market Conditions
NOI Build-Up for 3,550 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
$78.8K $22.20/SF
− Vacancy
−$9.5K −$2.66/SF
EGI
$69.4K $19.54/SF
− OpEx
−$17.3K −$4.88/SF
NOI
$52.0K $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%
$1,040,300
Cap Rate 7%
$743,071
Cap Rate 9%
$577,944
Alternative Uses
Best Use
Office B
$743.1K
$650.2K – $866.9K
NOI $52,015 @ 7.0% cap · market cap 3.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$936.8K
$819.7K – $1.09M
NOI $65,578 @ 7.0% cap · market cap 3.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
275
Businesses Nearby
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Modern office improvements support a single occupant or two-suite configuration.
Where is this office building located?
The property is located at 3169 W Belltower Dr Meridian, ID.
What is the asking price?
The asking price for this property is $1,699,999.
What are key features of this property?
This property features: 3,550 SF office building completed in 2024; 16‑foot entry with extensive interior glass; Custom millwork, quartz countertops, and cabinetry
