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    Industrial Shop with Land Opportunity Title is generated by Realmo AI

    662 Homestead Hollow Road, Careywood, ID 83809

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    Claim this Listing
    Pending
    $715,000

    LAND - Careywood, ID

    Property size:
    2,800 SF
    Lot size:
    20.00 Acres
    Added:
    Aug 26, 2025
    Days on Market:
    283
    Last Refresh:
    Jun 4 at 2:06 am

    Property Features for 662 Homestead Hollow Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Rural
    Parking features
    Open
    Exterior features
    Timber - All
    Standard status
    Pending
    APN
    RP54N02W067500A
    Lot size
    20.00 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    6-54N-2W S2NESE
    Tax Annual Amount
    1965

    Utilities

    Sewer type
    Septic Tank
    Water source
    Well

    We can help!

    Listing Contact
    Shane Zaring

    Listing agent Shane Zaring License #AB47687

    Listing office The Experience Northwest 435 W Hanley Avenue STE 100, Coeur d'Alene, ID

    Listing date Aug 26, 2025

    MLS# 25-8835 Listing URL

    Copyright © 2026 Coeur d'Alene Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 20‑acre property with a 70x40 shop featuring 2 garage doors (14 ft) and 16'5" ceilings
    • Shop includes power, water, and septic already on site, with rough plumbing and lift master garage door openers installed
    • Conversion‑ready: rough plumbing plus included lumber, insulation, bathroom fixtures, and windows for a proposed 1,400 SF, 2 bed/1 bath home
    • Private well and 400 amp power are on the property; septic tank sewer service
    • Two additional cleared building sites for future dwellings, with subdividable property mentioned
    • No HOA or CCR's reported; property is about 2.3 miles from Hwy 95

    Overview

    This offering combines a 20-acre rural land parcel with a large 70x40 shop designed for flexible use. The building includes two 14-foot doors and 16'5" ceilings, and it’s described as fully ready for conversion into a 1,400-square-foot, 2-bedroom, 1-bath home. Power, water, and septic are already in the building, and rough plumbing is in place. Garage door openers have been installed for the doors, and included items are noted on-site, including lumber, insulation, bathroom fixtures, and windows.

    The property is located in Careywood, ID, positioned directly between Coeur d'Alene and Sandpoint, with Highway 95 about 2.3 miles away. It sits at a cornering location near Stimson Lumber and public lands, with access to outdoor and recreation-oriented opportunities. The land is heavily timbered, and the property also allows for subdivision, with two additional building sites cleared of timber for future dwellings.

    For buyers looking for an owner-occupied setup, the existing shop offers a practical starting point to establish a residence while maintaining a structure that can support workshop or storage needs. The subdividable layout and cleared secondary building sites may also appeal to investors or future homeowners planning multiple homes on one parcel, all without HOA or CCR restrictions.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Careywood
    County
    Bonner
    State
    Idaho
    Longitude
    -116.61381
    Latitude
    48.054032

    FAQs

    What type of property is this?
    Warehouse - A rural 20-acre parcel featuring a ready-to-convert 70x40 shop with power, water, and multiple home building options.
    Where is this warehouse located?
    The property is located at 662 Homestead Hollow Road Careywood, ID.
    What is the asking price?
    The asking price for this property is $715,000.
    What are key features of this property?
    This property features: 20‑acre property with a 70x40 shop featuring 2 garage doors (14 ft) and 16'5" ceilings; Shop includes power, water, and septic already on site, with rough plumbing and lift master garage door openers installed; Conversion‑ready: rough plumbing plus included lumber, insulation, bathroom fixtures, and windows for a proposed 1,400 SF, 2 bed/1 bath home
    (208) 930-3078
    We can help!
    Listing Contact
    Shane Zaring
    Real Estate License ID: AB47687
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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