Storefront Building with
For Sale
$6,299,000
402 Sherman, Coeur d Alene, ID 83814
The building includes elevator access, high-speed internet, and storage, with DC zoning.
Property Size40,400 SF
Days on Market27
Property Features for 402 Sherman
General Information
Standard status
Active
Size
40,400 SF
Zoning
DC
Taxes and HOA fees
Annual Taxes
$29,859
Amenities
Curbs, Sidewalks
Accessible Entrance
Floor Furnace, Hot Water, Natural Gas
Full
Elevator, High Speed Internet, Storage
Lake, City
Paved
Lighting
Building Details
Building Size
40,400 SF
Year Built
1905
Buildings
1
Listing Agency:
Live Real Estate LLC
Listed By:
Blake Ward
(208) 719-1162
Source:
Evrealestate
Added: Sep 1
Changed: Sep 26
Last Checked: Sep 26 at 3:01PM
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 Live Real Estate LLC
Investment Insights
Based on property information with market context.
This Coeur d’Alene storefront property was built in 1905 and has an elevator, high-speed internet, and storage. Interior heating features include a floor furnace, hot water, and natural gas. The property is zoned DC.
The property is located in Coeur d’Alene, Idaho. Exterior features include paving and lighting.
The property is located in Coeur d’Alene, Idaho. Exterior features include paving and lighting.
Key Highlights
- Built in 1905
- Elevator, high‑speed internet, and storage
- Floor furnace, hot water, and natural gas
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
$407,232
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
6.47%
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%
$8,144,640
$8.1M
Cap Rate 7%
$5,817,600
$5.8M
Cap Rate 9%
$4,524,800
$4.5M
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
$606.0K $15.00/SF
− Vacancy
−$24.2K −$0.60/SF
EGI
$581.8K $14.40/SF
− OpEx
−$174.5K −$4.32/SF
NOI
$407.2K $10.08/SF
Area
Kootenai County, ID
Vacancy
4.00%
Lease Rate
$15.00 /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%
$8,144,640
Cap Rate 7%
$5,817,600
Cap Rate 9%
$4,524,800
Alternative Uses
Best Use
Retail
$5.82M
$5.09M – $6.79M
NOI $407,232 @ 7.0% cap · market cap 6.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.76M
$7.67M – $10.22M
NOI $613,466 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,740
Businesses Nearby
16k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 55%
Dining 40%
Apparel 6%
Chevron
Shops & Services
3,886 visits/mo
0.5 miles
Zip's Drive In
Dining
3,287 visits/mo
0.3 miles
Pita Pit
Dining
3,203 visits/mo
0.1 miles
Washington Trust Bank
Shops & Services
2,724 visits/mo
0.2 miles
First Interstate Bank
Shops & Services
1,880 visits/mo
0.2 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Storefront property - The building includes elevator access, high-speed internet, and storage, with DC zoning.
Where is this storefront property located?
The property is located at 402 Sherman Coeur d Alene, ID.
What is the asking price?
The asking price for this property is $6,299,000.
What are key features of this property?
This property features: Built in 1905; Elevator, high‑speed internet, and storage; Floor furnace, hot water, and natural gas
