1120 S Rackham Way - Office FOR SALE


Meridian, ID 83642- Southeast Meridian
$20,444,000 USD
208-678-6288
1120 S Rackham Way, Meridian, ID for Sale
$20,444,000 USD
Office - FOR SALE
1/19
null | 7.25% Cap Rate

1120 S Rackham Way
Meridian, ID 83642
Southeast Meridian


HIGHLIGHTS

  • INSTITUTIONAL-QUALITY CLASS A CREATIVE OFFICE OPPORTUNITY
  • STRONG ECONOMIC MARKET WITH TENANT BASE IN MERIDIAN, ONE OF IDAHO'S FASTEST GROWING CITIES
  • STRATEGIC LOCATION, ECONOMIC DRIVERS - TECH & HEALTHCARE

OVERVIEW

High-Image Opportunity with High-Visibility  —Institutional-quality Class A construction in a high-visibility location.  —Offered well below replacement cost.   —Strong tenant covenants and long lease terms through 2033.  —Positioned in a high-growth demographic and economic corridor.  —Rent premium over Class B creates income uplift potential.  —Minimal near-term CapEx due to recent completion. Strong Economic Market With Tenant Base  —Meridian is one of Idaho’s fastest-growing cities, with strong economic fundamentals driving robust demand for Class A office space.  —Meridian population: 139,740 (July 2024), up 18.6% since 2020, growing at ±3.3% annually.  —Ada County grew 85% from 2000–2024; Meridian accounts for 25.6% of the county’s population.  —Median household income: ±$142,982 with ±2.6 occupants per household.  Strategic Location, Economic Drivers – Tech and Healthcare  —Technology Growth — Boise is emerging as a tech hub, attracting startups and remote workers seeking quality of life and affordability.  —Healthcare & Professional Services — Rapid population growth supports healthcare systems and professional firms, increasing office requirements.

FOR SALE DETAILS

PRICE

$20,444,000 USD

PRICE/SF

$280 USD /SF

CAP RATE

7.25%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

B

YEAR BUILT

2019

SPRINKLERS

-

PARKING SPACES

201

LAND DETAILS

LAND ACRES

4.01 AC

LAND SF

174,676 SF

ZONING

C-G

APN/PARCEL ID

R7319430300

ASK ABOUT THIS PROPERTY

Kurt GreggCBREMore Info
208-678-6288

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Kurt GreggCBREMore Info
208-678-6288

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.