Meridian, ID - Cash Flowing Mixed Retail/Industrial Property - 5,640sf, Large Lot, High Visibility / Traffic Count

Highlights:

• ~8 % CAP at current contract price with room for +20 % NOI growth.
• Flexible assignment or JV structure for investors or owner-users.
• Front retail, rear roll-up warehouse, and yard — high-demand configuration.
• Prime Meridian Fairview corridor visibility (~34.5 K AADT).
• Low-tax C-2 Ada County zoning outside city limits = reduced overhead.
• Broker friendly - Bring your buyers!

Description:

Offering Type: Assignment of Purchase & Sale Agreement (Equitable Interest) or Joint Venture.
Broker friendly - Bring your buyers!

1235 E Fairview Ave is a rare mixed-use retail + industrial/flex property located on one of Meridian’s most traveled arterials, averaging ~34,500 VPD. The site combines a front retail/showroom, rear roll-up warehouse space, separate garage structure, and a fenced yard with easy truck and van circulation—an ideal configuration for service-retail, trades, light automotive, or building-services operators.

Site & Improvements
• Two parcels (APNs S1107110456 & S1107110458) totaling 0.79 acres.
• Approx. 5,610 SF leased space: 2,240 SF front retail, 1,920 SF rear mixed/industrial, 1,450 SF garage.
• ~0.5 acres of fenced yard with drive-through access.
• 8 paved spaces + 20 unpaved parking spaces.
• Zoning C-2 (Unincorporated Ada County).
• Low tax basis outside Meridian overlay district.

Tenancy & Income
Five long-standing month-to-month tenants with no documented vacancy in 10 years. Tenants handle basic upkeep and share snow removal but are not charged formal CAM fees — effectively a Modified Gross structure.

Current Performance (2024)
• Retail lease rate ≈ $19.87/SF/yr gross
• Mixed/industrial ≈ $15.60/SF/yr gross
• Garage ≈ $12/SF/yr gross
• Yard ≈ $1/SF/yr gross
• NOI ≈ $95,200 — ~8 % cap at current contract price

Value-Add Upside
• Lease rates ≈ 15% below market for the corridor.
• Most yard area under-monetized — potential additional rent stream.
• Introduce NNN or CAM reimbursements on renewal.
• Simple lot split potential to create separate front and rear parcels.

Offering Structure
Offered as assignment of an existing PSA for $1,187,000 plus $30,000 assignment fee to Assignor (does not include realtor fees). Alternate JV structures considered.

Summary
Rare opportunity to step into a stabilized, income-producing property with immediate upside and multiple exit strategies. Strong corridor traffic, flexible C-2 zoning, and low carrying costs make this a practical small-cap investment or an excellent owner-user repositioning play.

Disclosure: Assignor offers its equitable interest in an existing PSA; property marketing is for informational purposes only. Buyer to verify all information and execute appropriate assignment or JV documentation.

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