Two-Story Office Building Near
For Sale
$3,250,000
Coeur d'Alene, ID 83814, Coeur d Alene, ID 83814
Two-story office building near Lake Coeur d'Alene and Spokane River.
Property Size17,341 SF
Price / SF$187.42
Days on Market270
Property Features
General Information
Standard status
Active
Size
17,341 SF
Property subtype
Office
Building Details
Year Built
1991
Listing Agency:
(509) 954-2001
Listed By:
Chris Bell, SIOR
(509) 954-2001
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Jul 10
Last Checked: Aug 18 at 4:43AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Chris Bell, SIOR
Investment Insights
Based on property information with market context.
This 17,341 square foot two-story office building is situated on 1.06 acres near Lake Coeur d'Alene and the Spokane River. The property is positioned along Northwest Boulevard, benefiting from high traffic and strong visibility. The existing tenancy is primarily month-to-month, presenting a value-add opportunity. Approximately 50 surface parking stalls are available. Zoned C-17, the property allows for a wide range of commercial uses. Located in a tight office market with limited inventory and new construction, this property is suitable for investors, developers, or owner-users seeking growth or repositioning opportunities in Coeur d'Alene.
Key Highlights
- High‑traffic location on Northwest Blvd near Lake Coeur d'Alene and the Spokane River provides strong visibility.
- Value‑add potential due to majority month‑to‑month tenancy.
- Located in a tight office market with limited inventory and new construction.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$187,829
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.78%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,756,580
$3.8M
Cap Rate 7%
$2,683,271
$2.7M
Cap Rate 9%
$2,086,989
$2.1M
Market Conditions
NOI Build-Up for 17,341 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$301.7K $17.40/SF
− Vacancy
−$51.3K −$2.96/SF
EGI
$250.4K $14.44/SF
− OpEx
−$62.6K −$3.61/SF
NOI
$187.8K $10.83/SF
Area
Kootenai County, ID
Vacancy
17.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,756,580
Cap Rate 7%
$2,683,271
Cap Rate 9%
$2,086,989
Alternative Uses
Best Use
Office B
$2.68M
$2.35M – $3.13M
NOI $187,829 @ 7.0% cap · market cap 5.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.76M
$3.29M – $4.39M
NOI $263,320 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,910
Businesses Nearby
Explore this area
Business Placement
Demographics for 83814, ID
26,966
Population
14,314
Households
1.9
Avg Household Size
43
Median Age
34%
College-Educated
95%
High-School Grad
194.1 sq mi
ZIP Area
139
Density / Sq Mi
$69,914
Median Household Income
$41,195
Median Earnings
$1,223
Median Rent
$518,800
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office building near Lake Coeur d'Alene and Spokane River.
Where is this office building located?
The property is located at Coeur d Alene, ID.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: High‑traffic location on Northwest Blvd near Lake Coeur d'Alene and the Spokane River provides strong visibility.; Value‑add potential due to majority month‑to‑month tenancy.; Located in a tight office market with limited inventory and new construction.
