Suite-Style Office
For Sale
Contact for pricing
849 E Fairview Ave, Meridian, ID 83642
Private offices, shared reception, conference space, and two restrooms support a flexible professional workspace.
Property Size2,960 SF
Price / SF$295.61
Days on Market167
Property Features for 849 E Fairview Ave
General Information
Standard status
Active
Size
2,960 SF
Class
D
Total Parking Spaces
12
Property subtype
Office
Additional Details
Highway Access
Yes
Building Details
Year Built
2005
Buildings
1
Stories
1
Building Size
2,960 SF
Tenancy
Multi
Owner Occupied
Yes
Listing Agency:
Homes of Idaho
Listed By:
Ryan Jamison · License #52687
(208) 442-1530
Source:
Crexi
Added: Mar 20
Changed: Aug 30
Last Checked: Aug 31 at 1:52PM
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 Homes of Idaho
Investment Insights
Based on property information with market context.
This 2,960-square-foot office building, constructed in 2005, is arranged for multi-suite occupancy. The interior includes a reception and waiting area, several private offices, a conference and break room, and two restrooms. The current ownership arrangement includes use of the building along with several offices leased to professional colleagues.
The property provides 12 on-site parking spaces and substantial electrical capacity, with 800-amp service, 208/120-volt distribution, and three-phase power. Located at 849 E Fairview Ave in Meridian, the building is near Locust Grove Road with access to I-84. Its layout and infrastructure support continued office use with separate spaces for occupants and leased suites.
The property provides 12 on-site parking spaces and substantial electrical capacity, with 800-amp service, 208/120-volt distribution, and three-phase power. Located at 849 E Fairview Ave in Meridian, the building is near Locust Grove Road with access to I-84. Its layout and infrastructure support continued office use with separate spaces for occupants and leased suites.
Key Highlights
- 2,960‑square‑foot office building constructed in 2005
- Multi‑suite layout with reception, waiting area, private offices, conference/break room, and two restrooms
- Current arrangement combines owner occupancy with several leased offices
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
$43,370
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
4.96%
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%
$867,400
$867.4K
Cap Rate 7%
$619,571
$619.6K
Cap Rate 9%
$481,889
$481.9K
Market Conditions
NOI Build-Up for 2,960 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
$65.7K $22.20/SF
− Vacancy
−$7.9K −$2.66/SF
EGI
$57.8K $19.54/SF
− OpEx
−$14.5K −$4.88/SF
NOI
$43.4K $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%
$867,400
Cap Rate 7%
$619,571
Cap Rate 9%
$481,889
Alternative Uses
Best Use
Office B
$619.6K
$542.1K – $722.8K
NOI $43,370 @ 7.0% cap · market cap 4.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$781.1K
$683.5K – $911.3K
NOI $54,679 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,404
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 building - Private offices, shared reception, conference space, and two restrooms support a flexible professional workspace.
Where is this office building located?
The property is located at 849 E Fairview Ave Meridian, ID.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 2,960‑square‑foot office building constructed in 2005; Multi‑suite layout with reception, waiting area, private offices, conference/break room, and two restrooms; Current arrangement combines owner occupancy with several leased offices
