Flex
For Sale
$839,000
415 3RD, Post Falls, ID 83854
The property carries SmartCode 4 zoning and was built in 1960.
Property Size4,800 SF
Days on Market118
Property Features for 415 3RD
General Information
Standard status
Active
Size
4,800 SF
Zoning
SmartCode 4
Taxes and HOA fees
Annual Taxes
$5,000
Amenities
Floor Furnace, Electric
Neighborhood
Paved
Building Details
Building Size
4,800 SF
Year Built
1960
Buildings
1
Listing Agency:
Best Choice Realty
Listed By:
Bettina Ricker · License #SP49807
(509) 981-5166
Source:
Evrealestate
Added: Jun 8
Changed: Sep 26
Last Checked: Oct 2 at 8:48PM
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 Best Choice Realty
Investment Insights
Based on property information with market context.
This flex space property was built in 1960 and has an electric floor furnace. SmartCode 4 is the stated zoning designation, and the exterior features include paving.
The property is located at 415 3rd in Post Falls, Kootenai County. From the freeway, take the Spokane Street exit south, then turn left onto 3rd; the property is on the left.
The property is located at 415 3rd in Post Falls, Kootenai County. From the freeway, take the Spokane Street exit south, then turn left onto 3rd; the property is on the left.
Key Highlights
- SmartCode 4 zoning
- Built in 1960
- Electric floor furnace
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
$34,811
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
4.15%
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%
$696,220
$696.2K
Cap Rate 7%
$497,300
$497.3K
Cap Rate 9%
$386,789
$386.8K
Market Conditions
NOI Build-Up for 4,800 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
$43.2K $9.00/SF
− Vacancy
−$2.2K −$0.47/SF
EGI
$41.0K $8.53/SF
− OpEx
−$6.1K −$1.28/SF
NOI
$34.8K $7.25/SF
Area
Kootenai County, ID
Vacancy
5.20%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$696,220
Cap Rate 7%
$497,300
Cap Rate 9%
$386,789
Alternative Uses
Best Use
Warehouse
$497.3K
$435.1K – $580.2K
NOI $34,811 @ 7.0% cap · market cap 4.15%
Second Best
Industrial
$409.5K
$358.4K – $477.8K
NOI $28,668 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$1.04M
$911.1K – $1.21M
NOI $72,887 @ 7.0% cap · market cap 8.69%
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
697
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 83854, ID
49,040
Population
20,440
Households
2.4
Avg Household Size
37
Median Age
23%
College-Educated
92%
High-School Grad
77.6 sq mi
ZIP Area
632
Density / Sq Mi
$72,820
Median Household Income
$41,223
Median Earnings
$1,311
Median Rent
$433,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - The property carries SmartCode 4 zoning and was built in 1960.
Where is this flex space located?
The property is located at 415 3RD Post Falls, ID.
What is the asking price?
The asking price for this property is $839,000.
What are key features of this property?
This property features: SmartCode 4 zoning; Built in 1960; Electric floor furnace
