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

    2959 Meridian Rd Meridian, ID 83642-7961

    • Commercial real estate
    • 4,262 SF
    • 0.44 lot acres
    OFF-MARKET
    Last Sale
    Sep 18, 2020
    Value Estimations
    $555,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US27-0084516
    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

    • The 7 Figure Photographer / Business Management Consultant
    • Samuel Marvin Photography / Photography Service / (Bike/Boat/Book/etc) Store
    • CiC Pro Lab / (Bike/Boat/Book/etc) Store / Printing Service
    • Escape From Mystery Manor / Arcade & Gaming Center
    • iN8 Media Productions / Film Production / Television Studio

    Property Details for 2959 Meridian Rd

    Year built
    2014
    Lot size
    0.44 lot acres
    Property size
    4,262 SF
    Zone code
    L-O
    Property type
    Commercial real estate
    APN
    R8186120390
    APU
    R8186120390

    Description

    This exceptional 4,275-square-foot office building, constructed in 2014, presents a fantastic leasing opportunity in Meridian, Idaho. Located at 2959 S Meridian Rd, at the southwest corner of Meridian Road and Victory Road, this single-tenant space offers unparalleled convenience and accessibility. The building's prime location provides easy access to the I-84 Meridian Road interchange, placing it within a thriving commercial corridor between Meridian and Kuna. The property boasts ample free parking for tenants and visitors, a significant advantage in this area. The functional layout seamlessly blends private offices with open workspaces, providing flexibility for a variety of business needs. Zoned for limited office use, this space is suitable for a range of professional uses, including general office spaces or businesses such as salons. The building's 4,275 square feet are entirely vacant and ready for immediate occupancy, with an anticipated availability date of December 1, 2024. Situated in Ada County, this property offers a strategic location within a rapidly growing area of Idaho. The building's modern design and convenient amenities make it an attractive option for businesses seeking a high-quality, functional workspace.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $500,000
      Market price range: $150k - $587k

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

    Location Insight

    • Map
    • Local Demand
    City
    Meridian
    County
    Ada
    State
    Idaho
    Longitude
    -116.394
    Latitude
    43.5779
    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
    $5,374
    $167,900
    $1,115,800
    $1,283,700
    -
    $167,900
    $1,115,800
    $1,283,700

    Comparable in this City

    • Value Estimation
      $720,000
      9.88 Acres

      1135 Hickory Ave

      COMMERCIAL (GENERAL) • 9.88 Acres
      1135 Hickory Ave, Meridian, ID 83642-8849
      View Details
    • Value Estimation
      $600,000
      5.61 Acres

      4107 Overland Rd

      COMMERCIAL (GENERAL) • 5.61 Acres
      4107 Overland Rd, Meridian, ID 83642-8384
      View Details
    • Value Estimation
      $650,000
      11.98 Acres

      3500 Pne Ave

      COMMERCIAL (GENERAL) • 11.98 Acres
      3500 Pne Ave, Meridian, ID 83642-5437
      View Details
    • Value Estimation
      $640,000
      1.45 Acres

      2760 Excursion Ln

      COMMERCIAL (GENERAL) • 1.45 Acres
      2760 Excursion Ln, Meridian, ID 83642-5750
      View Details
    • Value Estimation by Request

      Varies

      COMMERCIAL (GENERAL)
      Varies, Meridian, ID 83642
      View Details
    • Value Estimation
      $16,825,000
      167,866 SF

      3545 Fairview Ave

      COMMERCIAL (GENERAL) • 167,866 SF
      3545 Fairview Ave, Meridian, ID 83642-5816
      View Details

    Similar Nearby for Sale

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      Prime Meridian location, two lots available.
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      10.00 Acres

      Meridian, ID: 10-Acre Development Land

      Prime 10-acre commercial/residential lot in Meridian, ID.
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      Meridian Retail Land Opportunity

      Prime Meridian Retail Lot, High Visibility
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    Similar Nearby for Lease

    • $22 SF/Yr
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      104 Acres, High-Traffic Location, Prime Development
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    • $22 SF/Yr
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      Boise Office Space: 7,000 - 70,014 SF
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    • Contact for pricing
      132,236 SF

      851 Black Cat Rd

      Distribution properties • 132,236 SF
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      View Details
    • $29 SF/Yr
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      1,324 SF Single-Tenant Retail in Meridian, ID
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      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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    2959 Meridian Rd
    Meridian, ID 83642-7961
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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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