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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2948 Meridian Rd Meridian, ID 83642

    • Medical offices
    • 8,200 SF
    For Lease
    View listing
    $30 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US27-0158110
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Medical offices

    Property Details for 2948 Meridian Rd

    Property size
    8,200 SF
    Property type
    Medical offices

    Description

    This exceptional 8,200-square-foot single-tenant building is ideally situated in Meridian, Idaho, at 2948 S Meridian Rd, conveniently located off the signalized intersection of Meridian Road and Victory. The property is classified as both retail and office space, currently entirely vacant, presenting a unique opportunity for a single tenant to occupy the entire building. The building's versatile layout is well-suited for a variety of medical office uses, as well as restaurant concepts, given its dual subtype classification. Ample parking is available with 36 spaces provided for tenants and visitors. The property is situated in Ada County, Idaho, and boasts a convenient Meridian address with easy access to major roadways. The zip code is 83642. This fully vacant space offers a blank canvas for a business seeking a prominent location with high visibility and substantial square footage. The building's size allows for customization and expansion to meet specific business needs. This is a rare opportunity to secure a substantial, well-located property in a thriving area of Meridian. The property's single-tenant occupancy offers streamlined management and control. The building's size ranges from 1,000 to 8,200 square feet, providing flexibility for various business models.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Meridian
    County
    Ada
    State
    Idaho
    Longitude
    -116.3938023
    Latitude
    43.577991

    Comparable in this City

    • Contact for pricing
      10,000 SF

      Ten Mile & Pine Office Suites

      Modern Craftsman office spaces, 835-1972 sq ft.
      3233 Pine Ave, Meridian, ID 83642
      View Details
    • Contact for pricing
      166,425 SF

      Meridian Mixed-Use Opportunity

      Idaho Retail, Office, Restaurant Space
      75 Ten Mile Rd, Meridian, ID 83642
      View Details
    • $23 SF/Yr
      56,620 SF

      Silverstone Point Office Space

      Class A Office, Boise Valley, 56,620 SF
      3501-3587 Overland Rd, Meridian, ID 83642
      View Details
    • $30 SF/Yr
      2,900 SF

      Meridian Medical Office Space For Lease

      Prime Medical Office, High Visibility, Ready for Tenant Improvements
      270 Ten Mile Rd, Meridian, ID 83642
      View Details
    • $22 SF/Yr
      1,587 SF

      Meridian Medical Office Sublease

      Class A medical office space, move-in ready.
      3277 Louise Dr, 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

    Similar Nearby for Sale

    • $2,300,000
      4 SF

      Medical Office Building For Sale

      Net leased medical office building in premier medical park.
      2365 E Gala St, Meridian, ID 83642
      View Details
    • Contact for pricing
      6,733 SF

      Meridian Office Building in Development

      New core and shell office building in growing Meridian location.
      2708 W Peak Cloud Ln, Meridian, ID 83642
      View Details
    • Contact for pricing

      Medical Office in Silverstone Campus

      Prime medical office space with excellent exposure and access.
      3875 E Overland Rd, Meridian, ID 83642
      View Details
    • $1,600,000
      320 SF

      Retail Investment with Guaranteed Lease

      Prime retail property with a franchisee-guaranteed lease in Meridian, ID.
      1701 W Franklin Rd, Meridian, ID 83642
      View Details
    • $2,290,000
      4,975 SF

      Freeway Visible Restaurant Opportunity

      Stand-alone restaurant with freeway visibility and immediate access.
      1565 S 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

    Similar Nearby for Lease

    • Contact for pricing
      10,000 SF

      Ten Mile & Pine Office Suites

      Modern Craftsman office spaces, 835-1972 sq ft.
      3233 Pine Ave, Meridian, ID 83642
      View Details
    • Contact for pricing
      166,425 SF

      Meridian Mixed-Use Opportunity

      Idaho Retail, Office, Restaurant Space
      75 Ten Mile Rd, Meridian, ID 83642
      View Details
    • $23 SF/Yr
      56,620 SF

      Silverstone Point Office Space

      Class A Office, Boise Valley, 56,620 SF
      3501-3587 Overland Rd, Meridian, ID 83642
      View Details
    • $30 SF/Yr
      2,900 SF

      Meridian Medical Office Space For Lease

      Prime Medical Office, High Visibility, Ready for Tenant Improvements
      270 Ten Mile Rd, Meridian, ID 83642
      View Details
    • $22 SF/Yr
      1,587 SF

      Meridian Medical Office Sublease

      Class A medical office space, move-in ready.
      3277 Louise Dr, 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
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    2948 Meridian Rd
    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
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