Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Spanish Sun Way Block 2 Meridian, ID 83642

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime South Meridian commercial lot, .68 acres.

    Property Features for 0 Spanish Sun Way Block 2

    General Information

    Property type
    Industrial land
    Lot Size
    29,621 SF

    We can help!

    Listing Contact
    Patrick Chetwood
    Patrick Chetwood

    Listing Agency: Colliers - Boise, Idaho Listing Agent: Patrick Chetwood

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

    Learn more

    Overview

    This exceptional 0.68-acre commercial lot, located in the desirable Artemisia Subdivision (Block 2, Lot 3), presents a unique investment opportunity in the rapidly expanding South Meridian market. Situated on S Spanish Sun Way in Ada County, Idaho (zip code 83642), this property boasts a C-G zoning designation, allowing for diverse industrial and retail development possibilities. The lot's strategic location offers unparalleled access to major transportation arteries, including convenient proximity to the Meridian Road and Ten Mile interchanges of I-84, placing it within a 20-minute drive of the entire Boise MSA. Benefit from high visibility and strong consumer traffic with its Overland Road frontage, situated between the Meridian Road and Ten Mile interchanges. The area is already home to established retailers such as Walmart, Lowe's, and Scheels Sporting Goods, ensuring a robust customer base for any development. This parcel is part of a larger development plan approved in 2024, encompassing 24 commercial lots, 49 multi-family unit permits, and 653 single-family residence lots, further solidifying its potential for significant appreciation. The APN is R0525200140. This is an exceptional opportunity to acquire a prime commercial lot in one of Idaho's fastest-growing areas. The asking price is $533,174.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Meridian
    County
    Ada
    State
    Idaho
    Longitude
    -116.41646228188
    Latitude
    43.590209064039

    Nearby Similar for Sale

    • $649,333
      2,340 SF

      Luxury End Unit Investment Property

      Turn-key luxury investment property in a sought-after Meridian community.
      4299 W Bay Oak Ln, Meridian, ID 83646
      View Details
    • $425,000
      1,620 SF

      Townhouse with Tenants in Meridian

      Well-maintained townhouse featuring an open floor plan and spacious bedrooms.
      1653 E Horse Creek Ct, Meridian, ID 83642
      View Details
    • $439,000
      1,891 SF

      Single-Level Townhome in Meridian, ID

      Well-maintained townhome with spacious rooms, modern kitchen, and covered patio.
      1849 E Horse Creek Ct, Meridian, ID 83642
      View Details
    • $685,000
      3,556 SF

      Meridian Townhomes in Entrata Farms

      Townhomes in a thriving community with onsite amenities.
      4044 W Ski Jump Ln, Meridian, ID 83642
      View Details
    • $539,900
      Pending

      Meridian Duplex with Large Yard

      Duplex in Meridian with a large, fenced yard.
      981-985 E Blue Heron St, Meridian, ID 83646
      View Details
    • $639,900
      Pending

      Meridian Duplex with Large Yard

      Duplex in Meridian with no rear neighbors and large lot.
      973-975 E Blue Heron St, Meridian, ID 83646
      View Details
    • $674,900
      3,072 SF

      Meridian Triplex in Downtown Area

      Well-maintained triplex in downtown Meridian with fully fenced backyards.
      918 NW 4Th St, Meridian, ID 83646
      View Details
    • Contact for pricing

      Premier Retail and Restaurant Space

      Prime retail and restaurant space in a high-growth retail hub.
      1307 W Chinden Blvd, Meridian, ID 83646
      View Details
    • $3,500,000
      4,995 SF

      Meridian Medical Office Investment Opportunity

      Turnkey medical office investment in a rapidly growing market.
      5004 N Linder Rd, Meridian, ID 83646
      View Details
    • $3,500,000
      5 SF

      Meridian Industrial Property with Expansion Potential

      6,371 SF facility on 5+ acres in Meridian, Idaho.
      8797 South Meridian Rd, Meridian, ID 83642
      View Details
    • Contact for pricing
      20,000 SF

      Mixed-Use Development Retail Opportunity

      Retail and restaurant spaces available in a growing mixed-use development.
      75 S Ten Mile Rd, Meridian, ID 83642
      View Details
    • $627,500
      4,234 SF

      Free-Standing Retail/Flex Building

      4,234 SF retail/flex building in a prime Meridian location.
      650 East Fairview Ave, Meridian, ID 83646
      View Details

    FAQs

    What type of property is this?
    Industrial land - Prime South Meridian commercial lot, .68 acres.
    Where is this industrial land located?
    The property is located at Spanish Sun Way Block 2 Meridian, ID.
    What is the asking price?
    The asking price for this property is $533,174.
    What are key features of this property?
    This property features: 0.68-acre commercial lot in the Artemisia Subdivision (Block 2, Lot 3), Ada County, ID (83642).; C-G zoning allows for diverse industrial and retail development.; High-visibility location on S Spanish Sun Way with Overland Road frontage, near I-84 interchanges.
    (208) 493-5110 Call to check price and availability
    Request Owner's contact information
    Spanish Sun Way Block 2 Meridian, ID 83642
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Spanish Sun Way Block 2
    Meridian, ID 83642
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Spanish Sun Way Block 2 Meridian, ID 83642
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Patrick Chetwood
    Patrick Chetwood
    Real Estate License ID: SP53788
    (208) 493-5110 (208) 761-3054
    Learn more
    Google sign-in failed. Please try again or use another login method.