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

    4873 Cortona Way Meridian, ID 83646

    • Commercial real estate
    • 0.88 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US27-0192592
    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

    • Commercial real estate

    Property Details for 4873 Cortona Way

    Lot size
    0.88 lot acres
    Property type
    Commercial real estate
    APN
    R9010680101

    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
    -116.4312950547
    Latitude
    43.648452049685

    Comparable in this City

    • $820,000
      0.71 Acres

      Prime Corner Lot in Star

      Corner lot in high-growth area, approved for retail and office.
      2 Gallup St, Star, ID 83646
      View Details
    • $620,000
      0.73 Acres

      Meridian Office Pad - $620K

      Prime Meridian location, vacant, ready to build.
      1527 Orchard Park Dr, Meridian, ID 83646
      View Details
    • $4,423,404
      5,375 SF

      Meridian Medical Investment Opportunity

      Single-tenant NNN leased to Saltzer Health Clinic & Urgent Care.
      6357 N Fox Run Way, Meridian, ID 83646
      View Details
    • $899,000
      2,277 SF

      Meridian Office Building: Prime Location

      Class A office, ample parking, move-in ready.
      3140 W Belltower Dr., Meridian, ID 83646
      View Details
    • $2,760,000
      7,594 SF

      Meridian Daycare/Office Building Opportunity

      High-quality, purpose-built daycare facility with office conversion potential.
      Daycare Facility/Office Building For Sale, Meridian, ID 83646
      View Details
    • $3,500,000
      4,995 SF

      Meridian Medical Office Investment Opportunity

      Turnkey medical office investment in a rapidly growing market.
      5004 N Linder Rd, Meridian, ID 83646
      View Details

    Similar Nearby for Sale

    • $820,000
      0.71 Acres

      Prime Corner Lot in Star

      Corner lot in high-growth area, approved for retail and office.
      2 Gallup St, Star, ID 83646
      View Details
    • $620,000
      0.73 Acres

      Meridian Office Pad - $620K

      Prime Meridian location, vacant, ready to build.
      1527 Orchard Park Dr, Meridian, ID 83646
      View Details
    • $4,423,404
      5,375 SF

      Meridian Medical Investment Opportunity

      Single-tenant NNN leased to Saltzer Health Clinic & Urgent Care.
      6357 N Fox Run Way, Meridian, ID 83646
      View Details
    • $899,000
      2,277 SF

      Meridian Office Building: Prime Location

      Class A office, ample parking, move-in ready.
      3140 W Belltower Dr., Meridian, ID 83646
      View Details
    • $2,760,000
      7,594 SF

      Meridian Daycare/Office Building Opportunity

      High-quality, purpose-built daycare facility with office conversion potential.
      Daycare Facility/Office Building For Sale, Meridian, ID 83646
      View Details
    • $3,500,000
      4,995 SF

      Meridian Medical Office Investment Opportunity

      Turnkey medical office investment in a rapidly growing market.
      5004 N Linder Rd, Meridian, ID 83646
      View Details

    Similar Nearby for Lease

    • $27 SF/Yr
      5,904 SF

      Prime Meridian Retail/Office Space

      Exceptional property in Meridian, ID, ideal for retail or office.
      2847 N Eagle Rd, Meridian, ID 83646
      View Details
    • $20 SF/Yr
      10,090 SF

      Prime Meridian Retail/Office Space

      Versatile space in high-traffic Meridian location, ideal for retail/office.
      2498 East Fairview Ave, Meridian, ID 83646
      View Details
    • $35 SF/Yr
      12,267 SF

      Ten Mile Retail

      Neighborhood centers • 12,267 SF
      3149 Quintale Rd, 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
      10,000 SF

      Meridian Mixed-Use Spaces

      Modern Craftsman building, flexible suites.
      6557 Crafted Ln, Meridian, ID 83646
      View Details
    • Contact for pricing
      16,228 SF

      Retail/Office Space Near Costco

      Proposed retail/office buildings in a rapidly growing area.
      4855-4855 N Cortona Way, Meridian, ID 83646
      View Details

    Property Visit Statistics

    • Visits by month
      2.2k
    • Visitors by month
      2.0k
    • Avg Time on site
      33 min
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    4873 Cortona Way
    Meridian, ID 83646
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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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