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    3501-3587 Overland Rd Meridian, ID 83642

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    For Lease
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    Class A Office, Boise Valley, 56,620 SF

    Lot size:
    56,620 SF

    Property Features for 3501-3587 Overland Rd

    General Information

    Property type
    Medical Office Space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    56,620 SF
    Class
    A
    Total Rate
    110880.83

    Building Details

    Year Built
    2002
    Buildings
    1
    Stories
    1

    Spaces For Lease

    at 3501-3587 Overland Rd, Meridian, ID 83642 Contact us
    Unit 3579 E. Overland Road

    $23 /Mo

    Size
    4,977 SF
    Contact us
    Unit 3557 E. Overland Road

    $24 /Mo

    Size
    3,597 SF
    Contact us
    Unit 3501 E Overland Rd

    $23 /Mo

    Size
    6,589 SF
    Contact us

    We can help!

    Listing Contact
    Charlene Vanostrand
    Charlene Vanostrand

    Listing Agency: The Sundance Company Listing Agent: Charlene Vanostrand

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional Class A office building, totaling 56,620 square feet on a single level, presents a unique opportunity in the thriving South East Meridian submarket of Ada County. Located within the prestigious Silverstone Park, a 180-acre master-planned business center, this property boasts a prime location with direct Overland Road frontage and excellent access from controlled intersections. Less than a mile from Interstate 84 (Exit 46), it offers unparalleled convenience and accessibility. The building features generous parking, allowing for a 5/1000 parking ratio. Tenants benefit from prominent building signage opportunities and the convenience of a full-service lease (excluding tenant janitorial). The strategic location within Silverstone Park provides access to over one million square feet of tenant amenities, including proportionate use of five common meeting rooms at the Silverstone Amenity Center. The property is zoned CC, City of Meridian, and offers a maximum contiguous space of 56,592 square feet, suitable for multiple tenants or a single large occupant. This is a truly remarkable opportunity to establish a presence in one of Boise's most sought-after business parks.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

    Restaurant Law Firm Building Supply Real Estate Agency Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Meridian
    County
    Ada
    State
    Idaho
    Longitude
    -116.35145775638
    Latitude
    43.589478357554

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    FAQs

    What type of property is this?
    Medical Office Space - Class A Office, Boise Valley, 56,620 SF
    Where is this medical office space located?
    The property is located at 3501-3587 Overland Rd Meridian, ID.
    What is the lease rate?
    The lease rate is $23-$24 SF/Yr.
    What are key features of this property?
    This property features: Class A, single-story office building totaling 56,620 square feet.; Located in the South East Meridian submarket of Ada County, at the prominent Silverstone Park, near the Eagle & Overland Rd intersection.; Features 56,592 square feet of contiguous space, suitable for multiple tenants.
    (208) 850-2116 Call to check price and availability
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    3501-3587 Overland Rd Meridian, ID 83642
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    Meridian, ID 83642
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3501-3587 Overland Rd Meridian, ID 83642
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    Contact for Pricing
    Please call us for current price
    and status of this listing Charlene Vanostrand
    Charlene Vanostrand
    (208) 850-2116 (208) 322-7300
    Learn more
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