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    Genesee Commercial Building For Sale Title is generated by Realmo AI

    153 Walnut St, Genesee, ID 83832

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    For Sale
    $325,000

    Commercial building with restaurant/bar in the heart of Genesee, Idaho.

    Type:Commercial/Industrial
    Property size:
    2,450 SF
    Lot size:
    0.11 Acres
    Price / SF:
    $132/SF
    Added:
    Feb 18, 2025
    Days on Market:
    462
    Last Refresh:
    May 19 at 9:02 pm

    Property Features for 153 Walnut St

    General Information

    Standard status
    Active
    Size
    2,450 SF
    Lot size
    0.11 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1898

    We can help!

    Listing Contact
    Patrick Libey

    Listing agent Patrick Libey License #SP41950

    Listing office Avalon 24 Real Estate

    Listing date Feb 18, 2025

    Source Exitrealty

    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 Avalon 24 Real Estate

    HighLights

    • Prime downtown location in Genesee, Idaho, easily accessible to the Palouse region and nearby universities (University of Idaho, Washington State University).
    • Established commercial building with a 50+ year history as home to the 'Brass Lantern' restaurant and bar, ensuring steady traffic and community support.
    • 2,450‑square‑foot building suitable for owner‑operation or passive rental income.
    • Thoughtfully renovated interior blending timeless charm with modern updates.
    • Classic brick exterior.
    • Opportunity to own a piece of Genesee's history in a growing community.

    Overview

    This 2,450-square-foot commercial building, a cornerstone of the Genesee community for over 50 years, houses the 'Brass Lantern' restaurant and bar. The property features a classic brick exterior and a renovated interior. Located in downtown Genesee, Idaho, the property is accessible to the Palouse region, including the University of Idaho, Washington State University, and Lewiston. The property's location ensures traffic and community support. This property is suitable for an entrepreneur looking to owner-operate or an investor seeking passive rental income.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

    Restaurant Gym & Fitness Center Food Market Grocery & Convenience Store Storage Facility Garden Center Computer & Electronic Repair (Bike/Boat/Book/etc) Store Pet Store Farmer's Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Genesee
    County
    Latah
    State
    Idaho
    Longitude
    -116.926391
    Latitude
    46.5502139

    FAQs

    What type of property is this?
    Bar & Pub - Commercial building with restaurant/bar in the heart of Genesee, Idaho.
    Where is this bar & pub located?
    The property is located at 153 Walnut St Genesee, ID.
    What is the asking price?
    The asking price for this property is $325,000.
    What are key features of this property?
    This property features: Prime downtown location in Genesee, Idaho, easily accessible to the Palouse region and nearby universities (University of Idaho, Washington State University).; Established commercial building with a 50+ year history as home to the 'Brass Lantern' restaurant and bar, ensuring steady traffic and community support.; 2,450‑square‑foot building suitable for owner‑operation or passive rental income.
    (208) 669-2231
    We can help!
    Listing Contact
    Patrick Libey
    Real Estate License ID: SP41950
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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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