Multi-Use Flex and Industrial
For Sale
$1,800,000
813 E Fairview, Meridian, ID 83642
Multi-use facility with a heavy-duty 7-bay garage, offices, and additional self-contained rental space.
Property Size6,015 SF
Lot Size1.00 Acre
Price / SF$299.25
Days on Market170
Property Features for 813 E Fairview
General Information
Standard status
Active
Size
6,015 SF
Total Parking Spaces
100
Lot size
1.00 Acre
Property subtype
Commercial
Zoning
Commercial
Additional Details
Service Bays
7
Amenities
Concrete
Yes
Square Feet
Partial
1 - 4.99 Acres
City Service
#Drive In/Grade-Lvl Doors: 9
1.02
100
251x180
51 - 100 Spaces
Paved
Paved Outside Area
6015
Building Details
Building Size
6,015 SF
Year Built
1985
Stories
1
Listing Agency:
Refined Realty
(208) 442-8500
Listed By:
Sage Morris
(760) 815-5266
Source:
Homesofidaho
Added: Mar 20
Changed: Aug 24
Last Checked: Aug 23 at 8:22AM
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 Refined Realty
Investment Insights
Based on property information with market context.
This for-sale multi-use flex and industrial property includes approximately 6,015 sq ft of functional space. The mechanics shop features a heavy-duty 7-bay garage designed for automotive, repair, or industrial operations, with a reception and waiting area. High ceilings and large bay doors support larger vehicles and equipment, and the setup includes two car lifts.
The property also includes finished office space with private offices and a reception area. In addition, there is a double-wide garage bay for fleet storage or workshop use, along with a side rental that is self-contained and includes its own garage bay.
The asset is situated on 1 acre at 813 E Fairview in Meridian, just off Fairview Avenue, offering a high-visibility, easily accessible business-corridor setting.
The property also includes finished office space with private offices and a reception area. In addition, there is a double-wide garage bay for fleet storage or workshop use, along with a side rental that is self-contained and includes its own garage bay.
The asset is situated on 1 acre at 813 E Fairview in Meridian, just off Fairview Avenue, offering a high-visibility, easily accessible business-corridor setting.
Key Highlights
- 6,015 sq ft multi‑use commercial property on 1 acre on Fairview Ave in Meridian
- Currently leased for $9,600/month rent
- Heavy‑duty 7‑bay mechanics shop with reception/waiting area, high ceilings, large bay doors, and two car lifts
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
$60,758
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
3.38%
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%
$1,215,160
$1.2M
Cap Rate 7%
$867,971
$868.0K
Cap Rate 9%
$675,089
$675.1K
Market Conditions
NOI Build-Up for 6,015 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
$101.1K $16.80/SF
− Vacancy
−$7.6K −$1.26/SF
EGI
$93.5K $15.54/SF
− OpEx
−$32.7K −$5.44/SF
NOI
$60.8K $10.10/SF
Area
Meridian, ID
Vacancy
7.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
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%
$1,215,160
Cap Rate 7%
$867,971
Cap Rate 9%
$675,089
Alternative Uses
Best Use
Flex RnD
$868.0K
$759.5K – $1.01M
NOI $60,758 @ 7.0% cap · market cap 3.38%
Second Best
Warehouse
$659.1K
$576.7K – $769.0K
NOI $46,137 @ 7.0% cap · market cap 2.56%
Theoretical Best
Office A
$1.59M
$1.39M – $1.85M
NOI $111,114 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Service bays
Location Intelligence
Trade Area within ½ mile
1,404
Businesses Nearby
Under-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 Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Your Kitchen, LLC — 48 E Fairview Ave, Meridian, ID 83642
- Billy's cowboy BBQ — 499 E Woodbury Dr, Meridian, ID 83646
Frequently Asked Questions
What type of property is this?
Flex space - Multi-use facility with a heavy-duty 7-bay garage, offices, and additional self-contained rental space.
Where is this flex space located?
The property is located at 813 E Fairview Meridian, ID.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 6,015 sq ft multi‑use commercial property on 1 acre on Fairview Ave in Meridian; Currently leased for $9,600/month rent; Heavy‑duty 7‑bay mechanics shop with reception/waiting area, high ceilings, large bay doors, and two car lifts
