Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • 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
    Property profile & analytics

    2951 Overland Rd Meridian, ID 83642-5699

    • Commercial real estate
    • 18,481 SF
    • 2.30 lot acres
    OFF-MARKET
    Value Estimations
    $2,085,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US27-1123047
    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

    • Jimmy John's / Take-out & Catering / Catering Service
    • El Dorado Marketplace / Shopping Center & Mall
    • Joy Garden / Restaurant
    • Moe Joe's Breakfast Eatery / Restaurant
    • the Collector's Outpost / (Bike/Boat/Book/etc) Store / Newspaper & Magazine

    Property Details for 2951 Overland Rd

    Year built
    2005
    Lot size
    2.30 lot acres
    Property size
    18,481 SF
    Zone code
    C-C
    Property type
    Commercial real estate
    APN
    R1022760332
    APU
    R1022760332

    Description

    This exceptional retail opportunity is located at 2951 E. Overland Road in Meridian, Idaho, within the South Meridian submarket of Ada County. The property, known as El Dorado Marketplace, is a Class B strip center totaling 18,256 square feet, built in 2004, and situated on a generous 300-acre lot. Currently, there is one suite available, offering 1,257 square feet of leasable space. The property boasts ample parking to accommodate customers and employees. Its C-C zoning allows for a variety of retail and restaurant uses. El Dorado Marketplace benefits from its strategic location, serving a vibrant community encompassing numerous business parks and over 400 hotel rooms. The proximity to amenities and a high school ensures high traffic and visibility, making it an ideal location for businesses seeking maximum exposure and convenience. This property presents a unique chance to establish or expand a business in a thriving area of Meridian, Idaho, with easy access to a large customer base. The property's size and location make it an attractive investment for businesses seeking a strong presence in a high-growth market. The zip code is 83642.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,819,000
      Market price range: $650k - $2.54M

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

    Location Insight

    • Map
    • Local Demand
    City
    Meridian
    County
    Ada
    State
    Idaho
    Longitude
    -116.358
    Latitude
    43.5898
    CBSA code
    14260
    CBSA name
    BOISE CITY-NAMPA, ID METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $23,577
    $1,986,300
    $2,677,000
    $4,663,300
    -
    $1,986,300
    $2,677,000
    $4,663,300

    Comparable in this City

    • Value Estimation by Request
      4.89 Acres

      2690 Dutch Farm Rd

      Land • 4.89 Acres
      2690 Dutch Farm Rd, Meridian, ID 83642
      View Details
    • Value Estimation by Request
      0.50 Acres

      75 Ten Mile Rd

      Land • 0.50 Acres
      75 Ten Mile Rd, Meridian, ID 83642
      View Details
    • Value Estimation by Request
      54,640 SF

      2295 Fairview Ave

      Individual retail properties • 54,640 SF
      2295 Fairview Ave, Meridian, ID 83642
      View Details
    • Value Estimation by Request
      0.49 Acres

      Nwc Lk Hazel & Locust Grv

      Land • 0.49 Acres
      0 Nwc Lk Hazel & Locust Grv, Meridian, ID 83642
      View Details
    • Value Estimation by Request
      11.75 Acres

      2499 Pne Ave

      COMMERCIAL (GENERAL) • 11.75 Acres
      2499 Pne Ave, Meridian, ID 83642
      View Details
    • Value Estimation
      $665,000
      7.83 Acres

      2940 Cobalt Dr

      COMMERCIAL (GENERAL) • 7.83 Acres
      2940 Cobalt Dr, Meridian, ID 83642-5985
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3.13 Acres

      Meridian Retail Land - 3.13 Acres

      Prime Meridian location, build-ready pad site.
      715 Fairview Ave, Meridian, ID 83642
      View Details
    • $980,000
      7,487 SF

      Meridian Office Building - High Yield Potential

      Five-unit office building, high upside, low price/sqft.
      40 Franklin Rd, Meridian, ID 83642
      View Details
    • Contact for pricing
      4.60 Acres

      Meridian Commercial Land - 4.6 Acres

      Prime Meridian commercial lot, ideal for development.
      175 Ten Mile Rd, Meridian, ID 83642
      View Details
    • Contact for pricing
      0.30 Acres

      Meridian Commercial Lots

      Prime Meridian location, two lots available.
      0 Bower St, Meridian, ID 83642
      View Details
    • Contact for pricing
      10.00 Acres

      Meridian, ID: 10-Acre Development Land

      Prime 10-acre commercial/residential lot in Meridian, ID.
      65 Lake Hazel Rd, Meridian, ID 83642
      View Details
    • Contact for pricing
      1.07 Acres

      Meridian Retail Land Opportunity

      Prime Meridian Retail Lot, High Visibility
      1561 Celebration Ave, Meridian, ID 83642
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      47,097 SF

      Executive Office Space Meridian, ID

      Premium Meridian Office: 6,000-47,097 SF
      2078 Silverstone Way, Meridian, ID 83642
      View Details
    • Contact for pricing
      4,525,013 SF

      Meridian I-84 Development Land

      104 Acres, High-Traffic Location, Prime Development
      0 Tbd 10 Mile - I84, Meridian, ID 83642
      View Details
    • $22 SF/Yr
      70,014 SF

      Diamond Point Executive Offices

      Boise Office Space: 7,000 - 70,014 SF
      2041 Cobalt Point Way, Meridian, ID 83642
      View Details
    • Contact for pricing
      132,236 SF

      851 Black Cat Rd

      Distribution properties • 132,236 SF
      851 Black Cat Rd, Meridian, ID 83642
      View Details
    • $29 SF/Yr
      1,324 SF

      Meridian Retail Space For Lease

      1,324 SF Single-Tenant Retail in Meridian, ID
      1492 Webb Way, 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
    Request Owner's contact information
    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.
    2951 Overland Rd
    Meridian, ID 83642-5699
    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
    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

    Google sign-in failed. Please try again or use another login method.