Turnkey Auto Shop with
For Sale
$475,000
503 3rd, Post Falls, ID 83854
Turnkey auto shop with service pits, loft storage, and convertible private office space for operational flexibility.
Property Size2,060 SF
Price / SF$230.58
Days on Market60
Property Features for 503 3rd
General Information
Standard status
Active
Size
2,060 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,324
Amenities
2.00
Building Details
Year Built
1900
Listing Agency:
Windermere/Manito, LLC
(509) 954-9354
Listed By:
Caylin Novell · License #SP51991
Source:
Clearwaterproperties
Added: Jul 3
Changed: Aug 28
Last Checked: Aug 30 at 7:02PM
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 Windermere/Manito, LLC
Investment Insights
Based on property information with market context.
This turnkey commercial property combines an auto shop with built-in office functionality. The shop area includes service pits and a loft for storage, with a private alley entrance providing access separate from the main building areas. The office portion features hardwood flooring throughout, along with a main-floor layout designed for work meetings, including a conference-like setup, space for a printer, and a sitting area. There is also direct access to a kitchen and bathroom from the main area. Upstairs, there are three bedrooms that can be converted into private offices to better support staff, client meetings, or back-office operations.
Located in Post Falls, the property offers a practical configuration for an operator who wants shop space and administrative space in the same facility. The presence of a private alley entrance supports the day-to-day flow of vehicles and equipment while keeping the office areas distinct.
For buyers or owner-operators, this layout can suit a range of automotive and service needs where onsite management and customer-facing discussions happen on the premises. The combination of service pits, storage loft, and ready-to-adapt office rooms supports both hands-on shop work and internal coordination without requiring a separate building.
Located in Post Falls, the property offers a practical configuration for an operator who wants shop space and administrative space in the same facility. The presence of a private alley entrance supports the day-to-day flow of vehicles and equipment while keeping the office areas distinct.
For buyers or owner-operators, this layout can suit a range of automotive and service needs where onsite management and customer-facing discussions happen on the premises. The combination of service pits, storage loft, and ready-to-adapt office rooms supports both hands-on shop work and internal coordination without requiring a separate building.
Key Highlights
- Turnkey auto shop with service pits and a loft for storage
- Private alley entrance provides access to the shop
- Hardwood flooring throughout the home
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
$20,765
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
4.37%
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%
$415,300
$415.3K
Cap Rate 7%
$296,643
$296.6K
Cap Rate 9%
$230,722
$230.7K
Market Conditions
NOI Build-Up for 2,060 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
$30.9K $15.00/SF
− Vacancy
−$1.2K −$0.60/SF
EGI
$29.7K $14.40/SF
− OpEx
−$8.9K −$4.32/SF
NOI
$20.8K $10.08/SF
Area
Kootenai County, ID
Vacancy
4.00%
Lease Rate
$15.00 /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%
$415,300
Cap Rate 7%
$296,643
Cap Rate 9%
$230,722
Alternative Uses
Best Use
Retail
$296.6K
$259.6K – $346.1K
NOI $20,765 @ 7.0% cap · market cap 4.37%
Second Best
Industrial
$175.8K
$153.8K – $205.1K
NOI $12,303 @ 7.0% cap · market cap 2.59%
Theoretical Best
Office A
$446.9K
$391.0K – $521.4K
NOI $31,281 @ 7.0% cap · market cap 6.59%
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
Well-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
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Turnkey auto shop with service pits, loft storage, and convertible private office space for operational flexibility.
Where is this auto shop located?
The property is located at 503 3rd Post Falls, ID.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Turnkey auto shop with service pits and a loft for storage; Private alley entrance provides access to the shop; Hardwood flooring throughout the home
