Retail Building with Office
For Sale
$859,000
415 E 3RD Ave, Post Falls, ID 83854
Commercial Sale, Retail, Post Falls, ID
Property Size4,800 SF
Lot Size0.19 Acres
Price / SF$178.96
Days on Market92
Property Features for 415 E 3RD Ave
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
SmartCode 4
Lot features
Corner Lot, Level
Directions
East on Freeway, take Spokane St exit and go South. Left on 3rd to property on left
Subdivision
02 - Post Falls
Special listing conditions
Short Sale
Standard status
Active
APN
P6900025019A
Size
4,800 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Post Falls, LT 19, 20 Blk 25 PF Downtown URD 2022 0350N05W
Tax Annual Amount
5000
Legal Description
Post Falls, LT 19, 20 Blk 25 PF Downtown URD 2022 0350N05W
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Water source
Public
Building Details
Year built
1960
Building materials
Aluminum Siding, Brick, Post & Beam
Roof type
Metal
Architectural style
Other
Listing Agency:
Best Choice Realty LLC
(509) 795-2029
Listed By:
Bettina Ricker · License #SP49807
(509) 981-5166
Added: Jun 7
Changed: Aug 26
Last Checked: Sep 6 at 3:06PM
MLS# 26-5815
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 4,800-square-foot commercial building occupies 0.19 acres across 2 city lots in downtown Post Falls. The current configuration allocates 4,000 square feet to retail and 800 square feet to office use, with changes subject to administrative approval. Built in 1960, the property features aluminum siding, brick, post-and-beam construction, a metal roof, and electric heating.
Public water and public sewer serve the site. The property has been surveyed, and preliminary civil plans address sidewalk and parking improvements; those plans have preliminary city approval and are included with completion scheduled after closing.
Public water and public sewer serve the site. The property has been surveyed, and preliminary civil plans address sidewalk and parking improvements; those plans have preliminary city approval and are included with completion scheduled after closing.
Key Highlights
- 4,800 SQ FT commercial building on 0.19 acres
- Current allocation of 4,000 SQFT retail and 800 SQ FT office
- Located on 2 city lots in downtown Post Falls
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
$51,991
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
6.05%
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%
$1,039,820
$1.0M
Cap Rate 7%
$742,729
$742.7K
Cap Rate 9%
$577,678
$577.7K
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
$83.5K $17.40/SF
− Vacancy
−$14.2K −$2.96/SF
EGI
$69.3K $14.44/SF
− OpEx
−$17.3K −$3.61/SF
NOI
$52.0K $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%
$1,039,820
Cap Rate 7%
$742,729
Cap Rate 9%
$577,678
Alternative Uses
Best Use
Office B
$742.7K
$649.9K – $866.5K
NOI $51,991 @ 7.0% cap · market cap 6.05%
Second Best
Retail
$691.2K
$604.8K – $806.4K
NOI $48,384 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$1.04M
$911.1K – $1.21M
NOI $72,887 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
697
Businesses Nearby
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Downtown commercial property with established retail and office allocation under SmartCode 4 zoning.
Where is this retail space located?
The property is located at 415 E 3RD Ave Post Falls, ID.
What is the asking price?
The asking price for this property is $859,000.
What are key features of this property?
This property features: 4,800 SQ FT commercial building on 0.19 acres; Current allocation of 4,000 SQFT retail and 800 SQ FT office; Located on 2 city lots in downtown Post Falls
