Drive-Through Garage Condo
For Sale
$250,000
17023 Tulip, Post Falls, ID 83854
Gated commercial condo units include insulated garages, power service, and remote-operated insulated doors.
Property Size1,000 SF
Price / SF$250
Days on Market149
Property Features for 17023 Tulip
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$782
Amenities
Garage: Paved
0.00
Paved
Building Details
Year Built
2023
Listing Agency:
CENTURY 21 Beutler & Associates
Listed By:
Pamela Harmon · License #SP33147
(208) 659-6678
Source:
Clearwaterproperties
Added: Apr 11
Changed: Sep 6
Last Checked: Sep 6 at 9:03AM
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 CENTURY 21 Beutler & Associates
Investment Insights
Based on property information with market context.
This offering is a commercial condo self-storage/garage facility featuring finished, insulated units. Standard configurations include a 100-amp service, RV/boat outlet options (30-to-50-amp), multiple electrical outlets (including a dedicated circuit), LED shop lighting, and a 14-by-14 insulated garage door with remote, owner-operated door openers. The property also includes state-of-the-art security, with optional upgrades noted for climate control and restroom build-out. There are 25 premium drive-through units and 11 units equipped for bathroom installation.
The site is accessed via a private gated entry off W Tulip Ct in Post Falls, Idaho.
Units are described as standard 20-by-50 garage condos, with insulated finishes intended to support secure storage and hobby use.
The site is accessed via a private gated entry off W Tulip Ct in Post Falls, Idaho.
Units are described as standard 20-by-50 garage condos, with insulated finishes intended to support secure storage and hobby use.
Key Highlights
- Commercial condo storage facility with private gated entry and state‑of‑the‑art security
- Standard 20 x 50 insulated units with 100‑amp service and a 14 x 14 insulated garage door with remote openers
- Units include 30‑to‑50‑amp RV/boat outlet plus 6 outlets, including one dedicated circuit
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
$8,732
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
3.49%
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%
$174,640
$174.6K
Cap Rate 7%
$124,743
$124.7K
Cap Rate 9%
$97,022
$97.0K
Market Conditions
NOI Build-Up for 1,000 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
$13.2K $13.20/SF
− Vacancy
−$726 −$0.73/SF
EGI
$12.5K $12.47/SF
− OpEx
−$3.7K −$3.74/SF
NOI
$8.7K $8.73/SF
Area
Kootenai County, ID
Vacancy
5.50%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
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%
$174,640
Cap Rate 7%
$124,743
Cap Rate 9%
$97,022
Alternative Uses
Best Use
Self Storage
$124.7K
$109.2K – $145.5K
NOI $8,732 @ 7.0% cap · market cap 3.49%
Second Best
Warehouse
$103.6K
$90.7K – $120.9K
NOI $7,252 @ 7.0% cap · market cap 2.90%
Theoretical Best
Office A
$216.9K
$189.8K – $253.1K
NOI $15,185 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
67
Businesses Nearby
Explore this area
Business Placement
Demographics for 83854, ID
49,040
Population
20,440
Households
2.4
Avg Household Size
37
Median Age
23%
College-Educated
92%
High-School Grad
77.6 sq mi
ZIP Area
632
Density / Sq Mi
$72,820
Median Household Income
$41,223
Median Earnings
$1,311
Median Rent
$433,700
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Gated commercial condo units include insulated garages, power service, and remote-operated insulated doors.
Where is this self storage facility located?
The property is located at 17023 Tulip Post Falls, ID.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Commercial condo storage facility with private gated entry and state‑of‑the‑art security; Standard 20 x 50 insulated units with 100‑amp service and a 14 x 14 insulated garage door with remote openers; Units include 30‑to‑50‑amp RV/boat outlet plus 6 outlets, including one dedicated circuit
