Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • 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

    Nec Franklin Rd & Locust Grv Rd Meridian, ID 83642

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Prime Meridian location, 8,000 sqft.

    Lot size:
    8,000 SF

    Property Features for 0 Nec Franklin Rd & Locust Grv Rd

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    8,000 SF
    Class
    A

    Building Details

    Year Built
    2019

    Spaces For Lease

    at 0 Nec Franklin Rd & Locust Grv Rd, Meridian, ID 83642 Contact us

    We can help!

    Listing Contact
    Peter Oliver
    Peter Oliver

    Listing Agency: TOK Commercial Listing Agent: Peter Oliver

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

    Learn more

    Overview

    This exceptional Class A commercial property, located at the signalized corner of Franklin Road and Locust Grove Road in Meridian, Idaho, presents a unique investment opportunity. Built in 2019, the 8,000 square foot building boasts a desirable executive office subtype within a larger retail and office complex. The property sits on a 2.5-acre lot, providing ample space and potential for future expansion. Currently, there is 1 square foot of vacant space available within the multiple-tenancy building. The property's I-L zoning allows for a variety of commercial uses. Its prime location in Meridian, Ada County (zip code 83642), ensures high visibility and accessibility, making it ideal for businesses seeking a high-traffic area. The building's modern construction and excellent location combine to offer a compelling opportunity for businesses seeking a prestigious and convenient address. The property's strategic placement at a signalized intersection guarantees maximum exposure to a large volume of daily traffic. This is a rare opportunity to secure a well-situated, modern commercial space in a thriving Idaho market.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Meridian
    County
    Ada
    State
    Idaho
    Longitude
    -116.3745151
    Latitude
    43.6048707

    Nearby Similar for Lease

    • Sponsored
      New
      Contact for pricing

      ID, Meridian - W Overland Road

      Workspaces, services and support to help you work better in Frisco Square
      943 Overland Rd 1Rst, Meridian, ID 83642
      View Details
    • $16 SF/Yr

      Retail Spaces in Cherry Plaza

      Retail spaces for lease in a busy, anchored shopping center.
      44 E Fairview Ave, Meridian, ID 83642
      View Details
    • $5 SF/Yr
      6,249 SF

      Meridian Office Space Available

      Flexible workspace solutions in Idaho.
      943 Overland Rd, Meridian, ID 83642
      View Details
    • Contact for pricing
      41,102 SF

      Meridian Retail Space Available

      High-traffic Main Street location, flexible space.
      1600 Main St, Meridian, ID 83642
      View Details
    • $25 SF/Yr
      1,338 SF

      Meridian Retail Space - Prime Location

      Modern Retail Space, High Traffic Area
      4744 Park Crossing Ave, Meridian, ID 83646
      View Details
    • $25 SF/Yr
      5,393 SF

      Nampa Executive Office Suites

      Idaho Center: Prime Nampa Office Space
      5961 Big Sur Ln, Meridian, ID 83646
      View Details
    • Contact for pricing
      3,119 SF

      Functional Office Space with Natural Light

      Spacious office with conference room, break area, and private restrooms.
      1620 S Topaz Way, Meridian, ID 83642
      View Details
    • Contact for pricing
      10,000 SF

      Meridian Mixed-Use Spaces

      Modern Craftsman building, flexible suites.
      6557 Crafted Ln, Meridian, ID 83646
      View Details
    • $1.25 SF/Yr
      15,228 SF

      Meridian Industrial Building For Lease

      Industrial building in central Meridian with easy I-84 access.
      Industrial Building For Lease, Meridian, ID 83642
      View Details
    • Contact for pricing
      11,000 SF

      Meridian Retail Space - Orchard Park

      High-visibility retail spaces available in prime Meridian location.
      1225 Chinden Blvd, Meridian, ID 83646
      View Details
    • $35 SF/Yr
      5,933 SF

      South Meridian Executive Office Suites

      Class A Office Space, 5,933 SF Available
      3124 Eagle Rd, Meridian, ID 83642
      View Details
    • $26 SF/Yr
      5,904 SF

      Mason Creek Retail Center

      Meridian, ID: Prime Retail Space Available
      2847 Eagle Rd, Meridian, ID 83646
      View Details

    FAQs

    What type of property is this?
    Office Property / Space - Prime Meridian location, 8,000 sqft.
    Where is this office property / space located?
    The property is located at Nec Franklin Rd & Locust Grv Rd Meridian, ID.
    What are key features of this property?
    This property features: High-traffic corner lot with signalized intersection.; Prime location on Meridian.; Exceptional visibility and accessibility.
    (208) 378-4600 Call to check price and availability
    Request Owner's contact information
    Nec Franklin Rd & Locust Grv Rd 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.
    Nec Franklin Rd & Locust Grv Rd
    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
    Nec Franklin Rd & Locust Grv Rd 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 Peter Oliver
    Peter Oliver
    Real Estate License ID: SP18349
    (208) 378-4600 (208) 947-0816
    Learn more
    Google sign-in failed. Please try again or use another login method.