Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    115 Lake St Sandpoint, ID 83864

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,100,000

    Historic Steakhouse, Turnkey Operation, .41 Acres

    Property Features for 115 Lake St

    General Information

    Property type
    Investment properties
    Lot Size
    17,860 SF

    We can help!

    Listing Contact
    Tom Puckett
    Tom Puckett

    Listing Agency: REALM Partners LLC Listing Agent: Tom Puckett

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    The Hydra Steakhouse & Lounge, a renowned Sandpoint establishment since 1975, presents a unique investment opportunity. This turnkey business includes the iconic name, all equipment, a valuable liquor license, and a loyal customer base cultivated over decades. The expansive 6,742 square foot building boasts an eclectic multi-room dining area, creating a versatile and inviting atmosphere. Multiple fireplaces contribute to a cozy ambiance, perfectly complementing the vast, commercial-grade kitchen. Its prime location in Sandpoint ensures high visibility and accessibility, placing it within minutes of 1st Avenue shopping, hotels, and City Beach. The property encompasses 0.41 acres, providing ample parking and a large, shaded outdoor lounge deck. This exceptional offering represents a chance to acquire a piece of Sandpoint's history and a thriving, well-established business. The sale includes all aspects necessary for immediate operation, making this a truly rare and attractive commercial property. The established reputation and loyal clientele provide a solid foundation for continued success. This is a remarkable opportunity to own a significant piece of Sandpoint's culinary landscape.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Hydra Steakhouse Restaurant Sandcreek Lofts at Sandpoint ... Condominium Complex DM Vacations - Sandcreek ... Vacation Rental

    Suggested Use

    Restaurant Law Firm Real Estate Agency Dental Office Hair Salon Spa & Massage Center Nail Salon Building Supply Auto Repair Shop Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sandpoint
    County
    Bonner
    State
    Idaho
    Longitude
    -116.5485
    Latitude
    48.27202

    Nearby Similar for Sale

    • $995,000
      2,380 SF

      Downtown Sandpoint Commercial Building

      Versatile commercial building in downtown Sandpoint with high visibility.
      525 Pine St, Sandpoint, ID 83864
      View Details
    • $1,400,000
      5,400 SF

      Commercial Property with Highway Frontage

      Commercial real estate with tenant in place in Sandpoint/Ponderay area.
      478544 Us-95, Sandpoint, ID 83864
      View Details
    • $1,500,000
      5,600 SF

      Turnkey Childcare Facility in Sandpoint

      Modern, fully-equipped childcare facility on a large corner lot.
      102 S Division Ave, Sandpoint, ID 83864
      View Details
    • New
      $850,000
      4,350 SF

      Income-Generating Commercial Opportunity

      Three income-generating properties in one, prime industrial location.
      1313 N Division Ave, Sandpoint, ID 83864
      View Details
    • New
      $4,150,000
      48,000 SF

      Sandpoint Warehouse with Pallet Racking

      48,000 SqFt warehouse in excellent condition near Sandpoint Airport.
      1106 Airpark Ct, Sandpoint, ID 83864
      View Details
    • $1,250,000
      3,960 SF

      Sandpoint Commercial Building with Units

      3,960 SF commercial building with three units in Sandpoint.
      1215 Michigan St, Sandpoint, ID 83864
      View Details
    • New
      $1,495,000
      5,600 SF

      Turnkey Childcare Facility in Sandpoint

      Modern, purpose-built childcare facility with extensive safety features.
      102 S Division Ave, Sandpoint, ID 83864
      View Details
    • $435,000
      0.27 Acres

      Waterfront Recreation Lot Near Sandpoint

      Waterfront lot on Pend Oreille River, ready for immediate enjoyment.
      Eagleview Ln, Sandpoint, ID 83864
      View Details
    • $1,100,000
      Pending

      Sandpoint Commercial Building with Income

      Versatile industrial building with four units and strong rental history.
      1336 Blady Park Rd, Sandpoint, ID 83864
      View Details
    • $449,000

      Established Insulation Business For Sale

      Successful insulation business with 25 years of excellence in North Idaho.
      Sandpoint, ID 83864
      View Details
    • Contact for pricing
      10,000 SF

      Downtown Sandpoint Commercial Building For Sale

      Two-story, 10,000 SF commercial building in downtown Sandpoint.
      208 N 1St Ave, Sandpoint, ID 83864
      View Details
    • $950,000
      3,174 SF

      Downtown Sandpoint Home with Income

      Rare Sandpoint home near resort, lake, dining, and coffee.
      417 Pine St, Sandpoint, ID 83864
      View Details

    FAQs

    What type of property is this?
    Investment property - Historic Steakhouse, Turnkey Operation, .41 Acres
    Where is this investment property located?
    The property is located at 115 Lake St Sandpoint, ID.
    What is the asking price?
    The asking price for this property is $2,100,000.
    (208) 255-8269
    Request Owner's contact information
    115 Lake St Sandpoint, ID 83864
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    115 Lake St
    Sandpoint, ID 83864
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    115 Lake St Sandpoint, ID 83864
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Tom Puckett
    Tom Puckett
    Real Estate License ID: SP30324
    (208) 255-8269 (208) 255-7772
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!