Mixed-Use Building with Lake
New
For Sale
$6,750,000
402 Sherman, Coeur d Alene, ID 83814
Historic downtown property combines retail and professional tenancy with prominent corner positioning and views toward Lake Coeur d’Alene.
Property Size40,400 SF
Price / SF$167.08
Days on Market2
Property Features for 402 Sherman
General Information
Standard status
Active
Size
40,400 SF
Property subtype
Commercial
Additional Details
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$32,464
Amenities
10.00
Building Details
Year Built
1905
Buildings
1
Building Size
40,400 SF
Tenancy
Multi
Listing Agency:
Live Real Estate LLC
(208) 719-1162
Listed By:
Blake Ward
Source:
Clearwaterproperties
Added: Aug 2
Changed: Aug 3
Last Checked: Aug 3 at 7:51AM
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.
Built in 1905, this 40,400-square-foot mixed-use building occupies a prominent downtown corner in Coeur d’Alene. The property includes the Corner store alongside a combination of retail and professional tenants, creating a varied commercial environment within the building. Lake views add to the physical character of the asset.
The property is positioned steps from Lake Coeur d’Alene, Tubbs Hill, McEuen Park, and the CDA Resort, placing it within the established downtown setting described in the listing. Existing improvements also provide a basis for considering an approximately 8,000-square-foot fourth-floor addition with a rooftop venue, subject to applicable approvals and feasibility.
The property is positioned steps from Lake Coeur d’Alene, Tubbs Hill, McEuen Park, and the CDA Resort, placing it within the established downtown setting described in the listing. Existing improvements also provide a basis for considering an approximately 8,000-square-foot fourth-floor addition with a rooftop venue, subject to applicable approvals and feasibility.
Key Highlights
- 40,400‑square‑foot mixed‑use building constructed in 1905
- Prominent downtown Coeur d’Alene corner location
- Lake views from the property
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $703.0k | $17.40 |
| − Vacancy | −$119.5k | −$2.96 |
| EGI | $583.5k | $14.44 |
| − OpEx | −$145.9k | −$3.61 |
| NOI | $437.6k | $10.83 |
40,400 SF · lease $17.40/SF/yr · vacancy 17.00% · expense 25.00%
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
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,825
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
Properties on Market for Mixed-use properties in Kootenai County
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 - Historic downtown property combines retail and professional tenancy with prominent corner positioning and views toward Lake Coeur d’Alene.
Where is this mixed-use 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 $6,750,000.
What are key features of this property?
This property features: 40,400‑square‑foot mixed‑use building constructed in 1905; Prominent downtown Coeur d’Alene corner location; Lake views from the property
