Two-Story Mixed-Use Retail
For Sale
Contact for pricing
6249 W Maine St, Spirit Lake, ID 83869
Fully renovated two-story building with street-level restaurant and adjacent bar/retail space plus office and retail suites.
Property Size8,000 SF
Price / SF$193.75
Days on Market66
Property Features for 6249 W Maine St
General Information
Standard status
Active
Size
8,000 SF
Property subtype
RETAIL
Occupancy
100%
Amenities
commercial kitchen
bar/retail space
office suites
remodeled kitchen
three bathrooms
private paved parking
city park
Building Details
Stories
2
Tenancy
Multi
Listing Agency:
Kiemle Hagood
(208) 661-3044
Listed By:
Anthony Villelli · License #AB21160
(208) 661-3044
Source:
Moodyscre
Added: Jun 5
Changed: Aug 8
Last Checked: Aug 9 at 12:22PM
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 Kiemle Hagood
Investment Insights
Based on property information with market context.
Historic, fully leased two-story commercial building in the heart of Spirit Lake. The building has been renovated in recent years, including upgrades to HVAC, plumbing, electrical, and mechanical systems. Street level includes restaurant space with a commercial kitchen, as well as an adjacent suite described as a well-finished bar/retail space. The second floor features several office and retail suites, a full remodeled kitchen, and three bathrooms.
Plenty of street parking is available on Maine St., and there is also private paved parking around the back accessible from the alley. City park is immediately to the east.
The property’s configuration supports multiple income-producing spaces across street-level dining and bar/retail, as well as office and retail uses on the second floor.
Plenty of street parking is available on Maine St., and there is also private paved parking around the back accessible from the alley. City park is immediately to the east.
The property’s configuration supports multiple income-producing spaces across street-level dining and bar/retail, as well as office and retail uses on the second floor.
Key Highlights
- Historic, fully leased two‑story commercial building in the heart of Spirit Lake
- Recent renovations include upgrades to HVAC, plumbing, electrical, and mechanical systems
- Street‑level restaurant space includes a commercial kitchen
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
$92,121
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
5.94%
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%
$1,842,420
$1.8M
Cap Rate 7%
$1,316,014
$1.3M
Cap Rate 9%
$1,023,567
$1.0M
Market Conditions
NOI Build-Up for 8,000 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
$127.7K $15.96/SF
− Vacancy
−$4.9K −$0.61/SF
EGI
$122.8K $15.35/SF
− OpEx
−$30.7K −$3.84/SF
NOI
$92.1K $11.52/SF
Area
Kootenai County, ID
Vacancy
3.80%
Lease Rate
$15.96 /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%
$1,842,420
Cap Rate 7%
$1,316,014
Cap Rate 9%
$1,023,567
Alternative Uses
Best Use
Specialty Retail
$1.32M
$1.15M – $1.54M
NOI $92,121 @ 7.0% cap · market cap 5.94%
Second Best
Office B
$1.24M
$1.08M – $1.44M
NOI $86,652 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$1.74M
$1.52M – $2.02M
NOI $121,478 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
174
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 83869, ID
5,488
Population
2,197
Households
2.5
Avg Household Size
45
Median Age
20%
College-Educated
93%
High-School Grad
65.8 sq mi
ZIP Area
83
Density / Sq Mi
$64,625
Median Household Income
$42,419
Median Earnings
$737
Median Rent
$425,300
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?
Conventional restaurant - Fully renovated two-story building with street-level restaurant and adjacent bar/retail space plus office and retail suites.
Where is this conventional restaurant located?
The property is located at 6249 W Maine St Spirit Lake, ID.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Historic, fully leased two‑story commercial building in the heart of Spirit Lake; Recent renovations include upgrades to HVAC, plumbing, electrical, and mechanical systems; Street‑level restaurant space includes a commercial kitchen
