Renovated Office Condo
For Sale
$550,000
Pending
301 1st, Coeur d Alene, ID 83814
Renovated office suite with four private offices, server room, kitchenette, private balcony, and exclusive in-suite bath.
Property Size1,859 SF
Days on Market52
Property Features for 301 1st
General Information
Standard status
Pending
Size
1,859 SF
Total Parking Spaces
3
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,137
Amenities
1.00
Building Details
Year Built
1984
Listing Agency:
NAI Black
(509) 724-9555
Listed By:
Devin Mecham · License ##128480
Source:
Clearwaterproperties
Added: Jul 4
Changed: Aug 24
Last Checked: Aug 24 at 3:54AM
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 NAI Black
Investment Insights
Based on property information with market context.
Beautifully renovated office condominium offering approximately 1,859 square feet of professional workspace in a full-service building. Suite 211 features four private offices, a dedicated server room, storage room, and kitchenette. The suite also includes a private balcony, an exclusive in-suite bathroom, and dual access doors.
The building provides 24/7 key fob access and includes an executive conference room, fitness center with showers, pool and sauna, library lounge, and pickleball court. Three assigned parking stalls are included, and furniture, fixtures, and equipment are available under a separate agreement.
HOA dues are approximately $550 per month.
The building provides 24/7 key fob access and includes an executive conference room, fitness center with showers, pool and sauna, library lounge, and pickleball court. Three assigned parking stalls are included, and furniture, fixtures, and equipment are available under a separate agreement.
HOA dues are approximately $550 per month.
Key Highlights
- Renovated office condominium suite with approx. 1,859 SF of professional workspace in a full‑service building
- Suite 211 layout includes four private offices plus dedicated server room, storage room, and kitchenette
- Private balcony with lake views and dual access doors; includes an exclusive in‑suite bathroom
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
$20,136
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
3.66%
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%
$402,720
$402.7K
Cap Rate 7%
$287,657
$287.7K
Cap Rate 9%
$223,733
$223.7K
Market Conditions
NOI Build-Up for 1,859 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
$32.3K $17.40/SF
− Vacancy
−$5.5K −$2.96/SF
EGI
$26.8K $14.44/SF
− OpEx
−$6.7K −$3.61/SF
NOI
$20.1K $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%
$402,720
Cap Rate 7%
$287,657
Cap Rate 9%
$223,733
Alternative Uses
Best Use
Office B
$287.7K
$251.7K – $335.6K
NOI $20,136 @ 7.0% cap · market cap 3.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$403.3K
$352.9K – $470.5K
NOI $28,229 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,886
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 units - Renovated office suite with four private offices, server room, kitchenette, private balcony, and exclusive in-suite bath.
Where is this office units located?
The property is located at 301 1st Coeur d Alene, ID.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Renovated office condominium suite with approx. 1,859 SF of professional workspace in a full‑service building; Suite 211 layout includes four private offices plus dedicated server room, storage room, and kitchenette; Private balcony with lake views and dual access doors; includes an exclusive in‑suite bathroom
