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    Reeder Bay Road lot 1 Nordman, ID 83848

    View on Map
    For Sale
    $390,000

    LAND - Nordman, ID

    Lot size:
    10.01 Acres
    Added:
    May 1, 2025
    Days on Market:
    337
    Last Refresh:
    Apr 2 at 7:06 am

    Property Features for Reeder Bay Road lot 1

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    A/F10
    Parking features
    Open
    Exterior features
    Timber - All
    Standard status
    Active
    APN
    RP056080000010A
    Lot size
    10.01 Acres

    Taxes and HOA fees

    TaxYear
    2024
    TaxDescription
    See attached Legal Description in Associated Docs.
    TaxAnnualAmount
    2150

    We can help!

    Listing Contact
    Kristin A Schneck

    Listing agent Kristin A Schneck License #SP27677

    Listing office Silvercreek Realty Group, LLC 1099 S Wells Street Ste 200, Meridian, ID

    Listing date May 1, 2025

    MLS# 25-4173 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.

    Overview

    Nordman Treed Land Near Priest

    This 10.01-acre parcel of land features trails and open spaces, suitable for building a home or cabin. Located on a county-maintained road, the property allows for year-round living without HOA or CCR restrictions. The land borders USFS land on three sides, providing access to thousands of acres and nearby Reeder Creek. The property has been newly subdivided and surveyed, with all corners marked. Priest Lake, Elkins Resort, and a public boat launch are approximately 2 miles away. A snowmobile parking area is located 4 miles from the property. Outdoor activities such as hiking, biking, ATV riding, snowmobiling, hunting, and boating are easily accessible. An airstrip is located nearby, with the Priest Lake Golf Course, library, grocery store, gas station, and hardware store a short distance further. The buyer is responsible for installing a driveway, well, and septic system. The seller is offering an $8,000 incentive to the buyer at the close of escrow, which the buyer can use towards their closing costs based on mutually accepted offer terms.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Recreation land

    Map

    City
    Nordman
    County
    Bonner
    State
    Idaho
    Longitude
    -116.932483
    Latitude
    48.631095

    Nearby Similar for Sale

    • $289,000

      Nordman, ID Land For Sale

      0.23-acre lot near Elkins Resort with community utilities.
      Cougar Gulch lot: 5, Nordman, ID 83848
      View Details
    • $399,000

      Secluded Treed Land Near Priest

      10.32 acres of treed land near Priest Lake.
      Reeder Bay Road lot: 3, Nordman, ID 83848
      View Details

    FAQs

    What type of property is this?
    Land - 10.01 acres of treed land near Priest Lake.
    Where is this land located?
    The property is located at Reeder Bay Road lot 1 Nordman, ID.
    What is the asking price?
    The asking price for this property is $390,000.
    What are key features of this property?
    This property features: $8,000 Seller Incentive at Close of Escrow.; 10.01 Acres bordering USFS Land on 3 sides with Reeder Creek nearby.; No HOA & No CCR's (Covenants/Restrictions).
    (208) 412-7299
    We can help!
    Listing Contact
    Kristin A Schneck
    Real Estate License ID: SP27677
    Learn More
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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.

    More about this property
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