Single-Level Flex
New
For Sale
$1,100,000
181 W Commerce Dr, Hayden, ID 83835
Commercial Sale, Single Level, Hayden, ID
Property Size3,960 SF
Lot Size0.38 Acres
Price / SF$277.78
Days on Market3
Property Features for 181 W Commerce Dr
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Hayden C Comm.
Interior features
High Speed Internet, Mini-Split A/C, Handicap Restrooms, Moveable Walls, Phone Prewired
Exterior features
Lighting, Lawn, Sprinkler System
Fencing
Fenced
Accessibility
Accessible Approach with Ramp
Lot features
Open Lot, Landscaped, Level, Southern Exposure
View
Territorial
Directions
North on Hwy 95, Right on Honeysuckle, Left on Commerce Drive, property on left.
Subdivision
03 - Hayden
Standard status
Active
APN
H36000010080
Size
3,960 SF
Lot size
0.38 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Government Way Commercial Center, Lt 8 Block 1 2351N04w
Tax Annual Amount
3013
Legal Description
Government Way Commercial Center, Lt 8 Block 1 2351N04w
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
2001
Building materials
Vinyl Siding, Steel Siding, Stone, Frame, Post & Beam
Roof type
Metal
Architectural style
Other
Listing Agency:
Windermere/Hayden, LLC · Windermere Real Estate
(208) 664-9221
Listed By:
Duffy Smock · License #MA25299
(208) 699-5466
Added: Aug 27
Last Checked: Aug 29 at 12:06PM
MLS# 26-8791
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.
Investment Insights
Based on property information with market context.
This single-level flex property contains 3,960 square feet within a 0.38-acre parcel. The layout includes five separate rooms, functional work areas, and a large garage that can accommodate equipment storage, workshop activity, fleet vehicles, or related business operations. Interior features include moveable walls, phone prewiring, high-speed internet, mini-split A/C, central air, and handicap restrooms.
Located at 181 W Commerce Dr in Hayden, Idaho, the property is zoned Hayden C Comm. Public water and sewer serve the site, while exterior improvements include lighting, lawn areas, a sprinkler system, and fencing. The building was constructed in 2001 and features a metal roof, vinyl and steel siding, stone, frame, and post-and-beam construction. An accessible approach with ramp is provided.
Located at 181 W Commerce Dr in Hayden, Idaho, the property is zoned Hayden C Comm. Public water and sewer serve the site, while exterior improvements include lighting, lawn areas, a sprinkler system, and fencing. The building was constructed in 2001 and features a metal roof, vinyl and steel siding, stone, frame, and post-and-beam construction. An accessible approach with ramp is provided.
Key Highlights
- 3,960‑square‑foot building on a 0.38‑acre parcel
- Five separate rooms with moveable walls and flexible interior configuration
- Large garage for equipment storage, workshop use, or fleet vehicles
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
$42,893
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
3.90%
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%
$857,860
$857.9K
Cap Rate 7%
$612,757
$612.8K
Cap Rate 9%
$476,589
$476.6K
Market Conditions
NOI Build-Up for 3,960 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
$68.9K $17.40/SF
− Vacancy
−$11.7K −$2.96/SF
EGI
$57.2K $14.44/SF
− OpEx
−$14.3K −$3.61/SF
NOI
$42.9K $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%
$857,860
Cap Rate 7%
$612,757
Cap Rate 9%
$476,589
Alternative Uses
Best Use
Office B
$612.8K
$536.2K – $714.9K
NOI $42,893 @ 7.0% cap · market cap 3.90%
Second Best
Industrial
$337.9K
$295.6K – $394.2K
NOI $23,651 @ 7.0% cap · market cap 2.15%
Theoretical Best
Office A
$859.0K
$751.7K – $1.00M
NOI $60,132 @ 7.0% cap · market cap 5.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
970
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 83835, ID
23,157
Population
10,110
Households
2.3
Avg Household Size
46
Median Age
33%
College-Educated
95%
High-School Grad
99.4 sq mi
ZIP Area
233
Density / Sq Mi
$86,014
Median Household Income
$43,925
Median Earnings
$1,688
Median Rent
$502,400
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?
Flex space - Versatile commercial building with office rooms, work areas, and a large garage for storage or operational use.
Where is this flex space located?
The property is located at 181 W Commerce Dr Hayden, ID.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 3,960‑square‑foot building on a 0.38‑acre parcel; Five separate rooms with moveable walls and flexible interior configuration; Large garage for equipment storage, workshop use, or fleet vehicles
