Contacts

Michael Greene

TOK Commercial Real Estate

Property Details

Property Type Office - Medical Office
Property Size 18,902 SF
Lot Size 1.71 Acre
Property Tenancy Single Tenant
Building Class A
Year Built 2021
Date Updated Nov 4, 2026

Everest Surgical Institute is strategically located in Meridian’s established medical district, less than a quarter mile from St. Luke’s Meridian Medical Center. Surrounded by medical offices, surgical centers, and complementary healthcare services, the property offers convenient access for physicians and patients. Its proximity to Eagle Road and Interstate 84 provides excellent connectivity throughout the Boise metropolitan area and greater Treasure ValleyEverest Surgical Institute is a 100% leased, single-tenant ambulatory surgery center and medical office building in Meridian, Idaho, offered at $12,950,000 ($685/SF). The property is leased to Everest Surgical Institute, LLC under a new 10-year absolute NNN lease running January 1, 2027 through December 31, 2036. The tenant is responsible for all taxes, insurance, maintenance, repairs, and capital replacements, including roof, structure, HVAC, and parking, leaving the landlord with no obligations. Base rent starts at $818,400 annually, representing a 6.3% Year 1 cap rate, with 2% annual increases to $978,064 in Year 10. The tenant has two five-year renewal options at the greater of fair market value or 102% of prior rent, with no purchase option or right of first refusal.

Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

Highlights

Absolute NNN Investment: 100% leased with no landlord obligations, generating $818,400 in annual NOI at a 6.3% cap rate.
Accredited Surgical Operations: AAAHC-accredited and Medicare-certified ambulatory surgery center with 20+ established insurance contracts in place.
Established Medical Tenant: Everest Surgical Institute specializes in orthopedic, spine, general, and bariatric surgery. Facility includes a backup generator, covered patient drop-off porte-cochere, and dedicated pad for potential expansion.
Long-Term Lease Structure: New 10-year lease commencing January 1, 2027, with 2% annual rent increases and two additional five-year renewal options. No purchase option or right of first refusal.
Premier Surgical Facility: Purpose-built in 2021, featuring three of Idaho’s largest surgical operating rooms, 12 pre/post-operative beds, and dedicated sterilization areas.
Specialized Medical Improvements: Second floor features 15 exam rooms, two procedure rooms, and a fully equipped X-ray room.