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704 E United Heritage Ct 20,000 SF 80% Leased Office Building Meridian, ID 83642 $3,950,000 ($197.50/SF) 5.44% Cap Rate
INVESTMENT HIGHLIGHTS
- Attractive Pricing – Offered at $212/SF, priced below replacement cost, creating a compelling value proposition in a high-demand submarket.
- Strong Leasing Support – Seller to offer a one-year rent guarantee on the current vacancy, reducing initial risk for investors.
- Flexible Zoning – Situated on 1.82 acres and zoned CG (General Commercial), allowing for a wide range of commercial uses.
- Built-In Upside – Contract rents are currently 10–20% below market, with near-term lease rollover providing an opportunity to reset rates & boost NOI.
- Established Location & Modern Construction – Located just 1.3 miles from downtown Meridian with CG zoning, built in 2014 on 1.82 acres.
- Solar Panels Installed – Upgraded with rooftop solar panels, significantly reducing utility costs and supporting sustainable energy initiatives.
EXECUTIVE SUMMARY
TOK Commercial is pleased to present the offering of 704 E. United Heritage Court in Central Meridian. Located in the heart of the Treasure Valley with excellent proximity to I-84, this 18,626 square foot professional office building sits on 1.82 acres in the highly flexible and desirable CG (General Commercial) zoning district.
The asset is currently 78% leased to strong tenants including Simplicity, DKS Associates, Inc., and E4 Connect, with one 4,088 SF vacant suite remaining. The property is located in one of the highest-demand submarkets for office with vacancy currently at 1.31%.
A buyer could immediately occupy the vacancy or take advantage of the seller’s one-year rent guarantee while they lease it up. The offering price of $3,950,000 reflects a 6.4% pro forma cap rate and is well below replacement cost at $212.00/SF. All three existing leases include 3% annual rate increases and are at below-market rates, offering excellent upside.
With high visibility, strong surrounding demographics and co-tenancy, and maximum zoning flexibility, 704 E. United Heritage Court is a rare opportunity to acquire or lease in one of Idaho’s most dynamic growth corridors.
The asset is currently 78% leased to strong tenants including Simplicity, DKS Associates, Inc., and E4 Connect, with one 4,088 SF vacant suite remaining. The property is located in one of the highest-demand submarkets for office with vacancy currently at 1.31%.
A buyer could immediately occupy the vacancy or take advantage of the seller’s one-year rent guarantee while they lease it up. The offering price of $3,950,000 reflects a 6.4% pro forma cap rate and is well below replacement cost at $212.00/SF. All three existing leases include 3% annual rate increases and are at below-market rates, offering excellent upside.
With high visibility, strong surrounding demographics and co-tenancy, and maximum zoning flexibility, 704 E. United Heritage Court is a rare opportunity to acquire or lease in one of Idaho’s most dynamic growth corridors.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
20,000 SF
Building Class
B
Year Built
2014
Price
$3,950,000
Price Per SF
$197.50
Cap Rate
5.44%
NOI
$214,806
Percent Leased
80%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
9,313 SF
Building FAR
0.25
Lot Size
1.82 AC
Opportunity Zone
Yes
Zoning
C-G - General Commercial
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
| Space | Size | Space Use | Condition | Available |
| 1st Fl-Ste 108 | 4,088 SF | Office | - | Now |
1st Fl-Ste 108
| Size |
| 4,088 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1st Fl-Ste 108
| Size | 4,088 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
1 1
PROPERTY TAXES
| Parcel Number | R1343550770 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $5,691,800 |
PROPERTY TAXES
Parcel Number
R1343550770
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$5,691,800
CONTACTS
-
Nick Schuitemaker, CCIM -
Mike Greene CCIM, SIOR -
Peter Oliver CCIM, SIOR -
TOK Commercial
1 of 20
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
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704 E United Heritage Ct
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