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

    701 Central Dr Meridian, ID 83642

    • Commercial real estate
    • 1.35 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US27-0121819
    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 701 Central Dr

    Lot size
    1.35 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 1.35-acre commercial land parcel presents a unique investment opportunity in Meridian, Idaho's thriving commercial district. Located at 701 E. Central Drive, this property is zoned C-G General Retail and Service Commercial District, offering significant flexibility for development. The asking price is $573,000, translating to a land value of $9.77 per square foot. This prime location boasts easy access to Interstate 84, ensuring high visibility and convenient access for customers and employees. The site is situated within Meridian's opportunity zone, potentially offering attractive tax benefits for investors. This is one of the last remaining undeveloped pad sites along Meridian's main commercial corridor, surrounded by a diverse mix of established businesses, including professional offices, retail establishments, government buildings, and educational institutions. This strategic location ensures high traffic volume and strong potential for future growth. The property's 1.35-acre size provides ample space for a variety of commercial developments, making it an attractive proposition for businesses seeking a prominent presence in this dynamic market. The Ada County location and 83642 zip code further enhance its appeal. Don't miss this chance to acquire a highly desirable commercial property in a rapidly expanding area.

    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
    -116.38503
    Latitude
    43.5963459

    Comparable in this City

    • $325,000
      0.47 Acres

      Prime Corner Lot in Meridian

      High-visibility commercial land in a rapidly growing area.
      4842 W Franklin Rd, Meridian, ID 83642
      View Details
    • Contact for pricing
      8 SF

      Commercial Lots in Mixed-Use Development

      Commercial lots for sale, lease, or build-to-suit in Meridian.
      S Wayfinder Ave, Meridian, ID 83642
      View Details
    • Contact for pricing

      Meridian Land For Sale

      Land available for sale in Meridian, Idaho.
      65 W Lake Hazel Rd, Meridian, ID 83642
      View Details
    • $3,316,660
      8 SF

      Meridian Land with Artesian Well

      Land with artesian well, convenient highway access for industrial operations.
      5020 W Franklin Rd, Meridian, ID 83642
      View Details
    • $520,978
      0.60 Acres

      Meridian Industrial Land - $520K

      Prime South Meridian land, ideal for development.
      0 Spanish Sun Way Block 2, Meridian, ID 83642
      View Details
    • $850,000
      1.08 Acres

      Meridian Land with Development Potential

      High visibility land with income potential in Meridian, Idaho.
      1360 Rolling Hill Dr, Meridian, ID 83642
      View Details

    Similar Nearby for Sale

    • $325,000
      0.47 Acres

      Prime Corner Lot in Meridian

      High-visibility commercial land in a rapidly growing area.
      4842 W Franklin Rd, Meridian, ID 83642
      View Details
    • Contact for pricing
      8 SF

      Commercial Lots in Mixed-Use Development

      Commercial lots for sale, lease, or build-to-suit in Meridian.
      S Wayfinder Ave, Meridian, ID 83642
      View Details
    • Contact for pricing

      Meridian Land For Sale

      Land available for sale in Meridian, Idaho.
      65 W Lake Hazel Rd, Meridian, ID 83642
      View Details
    • $3,316,660
      8 SF

      Meridian Land with Artesian Well

      Land with artesian well, convenient highway access for industrial operations.
      5020 W Franklin Rd, Meridian, ID 83642
      View Details
    • $520,978
      0.60 Acres

      Meridian Industrial Land - $520K

      Prime South Meridian land, ideal for development.
      0 Spanish Sun Way Block 2, Meridian, ID 83642
      View Details
    • $850,000
      1.08 Acres

      Meridian Land with Development Potential

      High visibility land with income potential in Meridian, Idaho.
      1360 Rolling Hill Dr, Meridian, ID 83642
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      29,098 SF

      Meridian, ID Office & Retail Lots

      Prime Meridian location, flexible spaces available.
      0 Bower St, 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
    • Contact for pricing
      8,400 SF

      Meridian Retail Opportunity

      High-visibility retail land, build-to-suit.
      3155 Fairview Ave, Meridian, ID 83642
      View Details
    • $3,000,000

      Meridian Land For Rent

      Land available for rent in Meridian, Idaho.
      W Franklin Rd, Meridian, ID 83642
      View Details
    • Contact for pricing
      136,343 SF

      Meridian Restaurant Pad Site

      Prime 3.13-acre restaurant land.
      715 Fairview Ave, Meridian, ID 83642
      View Details
    • Contact for pricing

      Commercial Pad Site For Lease

      Pad site available adjacent to high volume retail center.
      3155 E Fairview Ave, 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.
    701 Central Dr
    Meridian, ID 83642
    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.