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847 E Fairview Ave 2,960 SF 100% Leased Office Building Meridian, ID 83642 $1,535,512 CAD ($518.75 CAD/SF) 6.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Established Tenancy: Murphy Law Office, PLLC has been a long-term, stable tenant since 2005. Current lease expires December 31, 2031.
- Attractive NNN Structure: Tenant responsible for all operating expenses; landlord limited to structural components—offering low-maintenance ownership.
- Rare Investment Opportunity: Small office assets with this combination of quality, stability, and location are seldom available in the Meridian market
- Recent Capital Upgrades: New roof installed (Sept. 2025), upgraded parking lot (Sept. 2025), and recent HVAC improvements.
- Prime Meridian Location: Centrally positioned just off Fairview Avenue, offering excellent accessibility while enjoying a quiet, set-back setting.
EXECUTIVE SUMMARY
Introducing a prime investment opportunity in Meridian's sought-after commercial landscape. This 2,960 SF office building, impeccably maintained and zoned C-G, showcases reliability and potential. Benefit from an established tenancy by the Murphy Law Office, PLLC, ensuring steady income with a lease extending to December 31, 2031. Recent capital improvements include a new roof, parking lot upgrades, and enhanced HVAC systems, bolstering operational efficiency and property value. With a favorable NNN structure and a central location just off Fairview Avenue, this rare asset offers low-maintenance ownership and exceptional accessibility. Don't miss out on this rare blend of quality, stability, and location.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Office
Building Size
2,960 SF
Building Class
C
Year Built
2005
Price
$1,535,512 CAD
Price Per SF
$518.75 CAD
Cap Rate
6.50%
NOI
$99,808 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
2,960 SF
Building FAR
0.51
Lot Size
0.13 AC
Opportunity Zone
Yes
Zoning
C-G - General Commercial
Parking
15 Spaces (5.07 Spaces per 1,000 SF Leased)
1 1
Walk Score®
Very Walkable (71)
PROPERTY TAXES
| Parcel Number | R4228730040 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $917,046 CAD |
PROPERTY TAXES
Parcel Number
R4228730040
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$917,046 CAD
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847 E Fairview Ave
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