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    40 Franklin Rd Meridian, ID 83642

    Sponsored
    For Sale
    $980,000

    High-Yield Meridian Office, 5 Units, 7,000 SF

    Property size:
    7,487 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    Franklin Plaza, located at 40 W Franklin Rd, Meridian, ID 83642, presents a compelling investment opportunity. This single-story, 7,487 square foot office building, constructed in 1937 and situated on a 0.46-acre lot, offers 7,000 square feet of net rentable space divided into five units, each with its own restroom and separate entry. Currently operating at 100% occupancy with five tenants, the property generates a Net Operating Income (NOI) of $55,200, representing a 5.63% cap rate. A pro-forma NOI of $71,280 and a pro-forma cap rate of 7.27% indicate significant upside potential. Gross monthly rents currently total $5,660. The building's configuration allows for potential expansion to eight units. While the original structure served as a motel, substantial renovations and additions have been made. Rents haven't been increased since 2018, presenting a clear opportunity to boost income. The asking price is $980,000, translating to a price per square foot of $130.89. This property offers a rare chance to acquire a well-located, fully leased office building with substantial potential for increased profitability. All information should be verified independently by the buyer. Showings are by appointment only.

    Property Features for 40 Franklin Rd

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    7,487 SF
    Class
    C
    Lot Size
    20,038 SF

    Building Details

    Year Built
    1937
    Buildings
    1
    Stories
    1
    Units
    5
    Property Profile Location Intelligence

    Current Use by Public Records

    Balancing Kneads Massage Therapist E Z TRANSPORT ... Transportation Service Meridian Developmental Services Doctor Angelia Thorne Counselor

    Suggested Use

    Realty agency Law Firm Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Clothing Store Pharmacy Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Meridian
    County
    Ada
    State
    Idaho
    Longitude
    -116.39489481356
    Latitude
    43.604918143246

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    FAQs

    What type of property is this?
    Office Property / Space - High-Yield Meridian Office, 5 Units, 7,000 SF
    Where is this office property / space located?
    The property is located at 40 Franklin Rd Meridian, ID.
    What is the asking price?
    The asking price for this property is $980,000.
    Request Owner's contact information
    40 Franklin Rd Meridian, ID 83642
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    Meridian, ID 83642
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    Realmo Value Estimation

    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.

    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.

    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
    40 Franklin Rd Meridian, ID 83642
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