Mixed-Use Building with Lake
New
For Sale
$6,750,000
402 Sherman, Coeur d Alene, ID 83814
Historic commercial property with retail and professional tenants, lake views, and DC zoning.
Property Size40,400 SF
Price / SF$167.08
Days on Market3
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
$29,859
Amenities
10.00
Building Details
Year Built
1905
Buildings
1
Tenancy
Multi
Listing Agency:
Live Real Estate LLC
Listed By:
Blake Ward
(208) 719-1162
Source:
Clearwaterproperties
Added: Sep 2
Changed: Sep 4
Last Checked: Sep 4 at 2:02AM
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 corner position in downtown Coeur d'Alene. The property combines retail and professional tenant space and includes the Corner store, creating a varied commercial composition within a single asset. Lake views add to the building’s physical setting.
Located at 402 E Sherman Avenue, the property is situated near Lake Coeur d'Alene, Tubbs Hill, McEuen Park, and the Coeur d'Alene Resort. The building is designated DC under the stated zoning classification and offers a substantial downtown presence with multiple commercial components.
Located at 402 E Sherman Avenue, the property is situated near Lake Coeur d'Alene, Tubbs Hill, McEuen Park, and the Coeur d'Alene Resort. The building is designated DC under the stated zoning classification and offers a substantial downtown presence with multiple commercial components.
Key Highlights
- 40,400‑square‑foot mixed‑use building constructed in 1905
- Corner property at 402 E Sherman Avenue in downtown Coeur d'Alene
- Lake views with proximity to Lake Coeur d'Alene
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic commercial property with retail and professional tenants, lake views, and DC zoning.
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; Corner property at 402 E Sherman Avenue in downtown Coeur d'Alene; Lake views with proximity to Lake Coeur d'Alene
