Prime Office Space For
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3405 E Overland Rd Suite 360, Meridian, ID 83642
Modern office space in the heart of Treasure Valley.
Property Size5,941 SF
Price / SF$328.23
Days on Market864
Property Features for 3405 E Overland Rd Suite 360
General Information
Standard status
Active
Size
5,941 SF
Class
A
Property subtype
Office
Lease Type
Gross
Building Details
Year Built
2009
Stories
3
Tenancy
Single
Listing Agency:
CBRE - Boise
(208) 644-8000
Listed By:
Karena Gilbert · License #ID SP40048
Source:
Crexi
Added: Apr 10, 2024
Changed: Aug 8
Last Checked: Jul 23 at 6:42AM
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 CBRE - Boise
Investment Insights
Based on property information with market context.
This commercial real estate offers office space for sale in the Treasure Valley area, situated at the intersection of Overland Road and Eagle Road. The property features a modern, well-appointed office space with expansive views. The layout includes a stylish build-out, a breakroom, and a conference room. The location is centrally located in the Treasure Valley, with convenient access to the Interstate. The property size is 5941 square feet.
Key Highlights
- Prime office space in a central Treasure Valley location at Overland Rd. & Eagle Rd.
- Modern, well‑appointed space with expansive views.
- Stylish build‑out including a breakroom and conference room.
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
$87,048
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
4.46%
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%
$1,740,960
$1.7M
Cap Rate 7%
$1,243,543
$1.2M
Cap Rate 9%
$967,200
$967.2K
Market Conditions
NOI Build-Up for 5,941 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
$131.9K $22.20/SF
− Vacancy
−$15.8K −$2.66/SF
EGI
$116.1K $19.54/SF
− OpEx
−$29.0K −$4.88/SF
NOI
$87.0K $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%
$1,740,960
Cap Rate 7%
$1,243,543
Cap Rate 9%
$967,200
Alternative Uses
Best Use
Office B
$1.24M
$1.09M – $1.45M
NOI $87,048 @ 7.0% cap · market cap 4.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,747 @ 7.0% cap · market cap 5.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,547
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Modern office space in the heart of Treasure Valley.
Where is this office units located?
The property is located at 3405 E Overland Rd Suite 360 Meridian, ID.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Prime office space in a central Treasure Valley location at Overland Rd. & Eagle Rd.; Modern, well‑appointed space with expansive views.; Stylish build‑out including a breakroom and conference room.
