Brick Mixed-Use
New
For Sale
$6,750,000
402 E Sherman Ave, Coeur d Alene, ID 83814
Commercial Sale, Office Building, Coeur d'Alene, ID
Property Size40,400 SF
Lot Size0.24 Acres
Price / SF$167.08
Days on Market2
Property Features for 402 E Sherman Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
DC
Bathrooms
10
Full bathrooms
10
Rooms
Bathroom 2, Bathroom 9, Bathroom 10, Bathroom 1, Bathroom 4, Bathroom 5, Bathroom 6, Bathroom 8, Bathroom 3, Basement, Bathroom 7
Interior features
Storage, Cable Internet Available, High Speed Internet, Elevator, Handicap Restrooms, Phone Prewired
Exterior features
Lighting, Handicap Access
Accessibility
Accessible Elevator Installed, Accessible Approach with Ramp
Lot features
Corner Lot, Level, Alley Access
View
City, Lake
Directions
Take exit 15 for Sherman Ave., turn West onto Sherman Ave., Drive 1.4 miles down Sherman Ave., and arrive at 402 E Sherman Ave. at the intersection of Sherman Ave. and 4th St.
Subdivision
01 - Cd'A Urban/Dalton
Standard status
Active
APN
C180000Q001A
Size
40,400 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Cda & Kings Add, Lts 1, 2, W 16.78 Inches-Lt 3 Block Q 1350N04w
Tax Annual Amount
29860
Legal Description
Cda & Kings Add, Lts 1, 2, W 16.78 Inches-Lt 3 Block Q 1350N04w
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Hot Water(Heating)
Water source
Public
Amenities
lake views
Building Details
Year built
1905
Building materials
Brick
Roof type
Rubber
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Live Real Estate LLC
(509) 455-5483
Listed By:
Blake Ward
(208) 719-1162
Added: Sep 1
Last Checked: Sep 2 at 2:06AM
MLS# 26-8940
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 40,400-square-foot mixed-use property is a brick building constructed in 1905 on a 0.24-acre parcel. The interior includes storage, an elevator, accessible restrooms, and prewired phone and internet capabilities. Public water and sewer serve the property, while natural gas and hot water provide heating. Exterior improvements include lighting and accessible entry features.
Positioned at 402 E Sherman Ave in downtown Coeur d'Alene, the building occupies a corner location with views toward Lake Coeur d'Alene. The property is steps from Tubbs Hill, McEuen Park, and the Coeur d'Alene Resort, with pedestrian activity associated with the surrounding downtown area.
The current tenant mix includes retail and professional occupants, including the Corner store. DC zoning applies to the property, which also features a rubber roof and an accessible elevator with a ramped approach.
Positioned at 402 E Sherman Ave in downtown Coeur d'Alene, the building occupies a corner location with views toward Lake Coeur d'Alene. The property is steps from Tubbs Hill, McEuen Park, and the Coeur d'Alene Resort, with pedestrian activity associated with the surrounding downtown area.
The current tenant mix includes retail and professional occupants, including the Corner store. DC zoning applies to the property, which also features a rubber roof and an accessible elevator with a ramped approach.
Key Highlights
- 40,400‑square‑foot mixed‑use building on 0.24 acres
- Corner location at 402 E Sherman Ave in downtown Coeur d'Alene
- Retail and professional tenant mix, including the Corner store
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
$437,593
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
6.48%
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%
$8,751,860
$8.8M
Cap Rate 7%
$6,251,329
$6.3M
Cap Rate 9%
$4,862,144
$4.9M
Market Conditions
NOI Build-Up for 40,400 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
$703.0K $17.40/SF
− Vacancy
−$119.5K −$2.96/SF
EGI
$583.5K $14.44/SF
− OpEx
−$145.9K −$3.61/SF
NOI
$437.6K $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%
$8,751,860
Cap Rate 7%
$6,251,329
Cap Rate 9%
$4,862,144
Alternative Uses
Best Use
Office B
$6.25M
$5.47M – $7.29M
NOI $437,593 @ 7.0% cap · market cap 6.48%
Second Best
Mixed Use
$6.04M
$5.28M – $7.04M
NOI $422,685 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$8.76M
$7.67M – $10.22M
NOI $613,466 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,740
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?
Mixed-use property - Corner property combining retail and professional tenant spaces with lake views and downtown pedestrian activity.
Where is this mixed-use property located?
The property is located at 402 E Sherman Ave Coeur d Alene, ID.
What is the asking price?
The asking price for this property is $6,750,000.
What are key features of this property?
This property features: 40,400‑square‑foot mixed‑use building on 0.24 acres; Corner location at 402 E Sherman Ave in downtown Coeur d'Alene; Retail and professional tenant mix, including the Corner store
