Gated Self-Storage
For Sale
$95,000
498 W Garwood Road Unit # 229, Rathdrum, ID 83858
Commercial storage unit with oversized vehicle access, tall clearance, paved grounds, and controlled entry.
Property Size768 SF
Price / SF$123.70
Days on Market10
Property Features for 498 W Garwood Road Unit # 229
General Information
Standard status
Active
Size
768 SF
Zoning
LIGHT INDUSTRIA
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Drive-In Doors
1
Sprinkler System
Yes
Amenities
gated
video security
Building Details
Year Built
2009
Listing Agency:
Coldwell Banker Schneidmiller Realty
(208) 719-6129
Listed By:
Ray Cross · License #SP77198
Source:
Purewestrealestate
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 29 at 5:49AM
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 Coldwell Banker Schneidmiller Realty
Investment Insights
Based on property information with market context.
This commercial condominium unit in a self-storage complex was built in 2009 and measures 16 by 48 feet. The space has concrete floors, overhead fluorescent lighting, a 14-foot garage door, and rear ceiling clearance exceeding 25 feet, accommodating larger vehicles, boats, or RVs. The unit faces south and is identified as Unit 229 at 498 W Garwood Road.
The property is within a paved, gated complex with full video security and a fire sprinkler system. It is situated off Hwy 95 near Garwood Road in Rathdrum, Idaho. HOA dues include electrical usage, grounds maintenance, and snow removal. Zoning is designated LIGHT INDUSTRIA.
The property is within a paved, gated complex with full video security and a fire sprinkler system. It is situated off Hwy 95 near Garwood Road in Rathdrum, Idaho. HOA dues include electrical usage, grounds maintenance, and snow removal. Zoning is designated LIGHT INDUSTRIA.
Key Highlights
- 16x48 commercial condo unit built in 2009
- 14 ft garage door and rear ceiling height over 25 ft
- Concrete flooring and overhead fluorescent lighting
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
$6,706
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
7.06%
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%
$134,120
$134.1K
Cap Rate 7%
$95,800
$95.8K
Cap Rate 9%
$74,511
$74.5K
Market Conditions
NOI Build-Up for 768 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
$10.1K $13.20/SF
− Vacancy
−$558 −$0.73/SF
EGI
$9.6K $12.47/SF
− OpEx
−$2.9K −$3.74/SF
NOI
$6.7K $8.73/SF
Area
Kootenai County, ID
Vacancy
5.50%
Lease Rate
$13.20 /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%
$134,120
Cap Rate 7%
$95,800
Cap Rate 9%
$74,511
Alternative Uses
Best Use
Self Storage
$95.8K
$83.8K – $111.8K
NOI $6,706 @ 7.0% cap · market cap 7.06%
Second Best
Warehouse
$79.6K
$69.6K – $92.8K
NOI $5,570 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$166.6K
$145.8K – $194.4K
NOI $11,662 @ 7.0% cap · market cap 12.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
45
Businesses Nearby
Explore this area
Business Placement
Demographics for 83858, ID
17,113
Population
7,660
Households
2.2
Avg Household Size
41
Median Age
25%
College-Educated
92%
High-School Grad
112.1 sq mi
ZIP Area
153
Density / Sq Mi
$93,006
Median Household Income
$38,717
Median Earnings
$1,244
Median Rent
$452,700
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Commercial storage unit with oversized vehicle access, tall clearance, paved grounds, and controlled entry.
Where is this self storage facility located?
The property is located at 498 W Garwood Road Unit # 229 Rathdrum, ID.
What is the asking price?
The asking price for this property is $95,000.
What are key features of this property?
This property features: 16x48 commercial condo unit built in 2009; 14 ft garage door and rear ceiling height over 25 ft; Concrete flooring and overhead fluorescent lighting
