Four-Unit Mixed-Use
For Sale
$634,500
6276 MAINE, Spirit Lake, ID 83869
Four-unit mixed-use property with ground-floor retail and three residential apartments, all currently occupied.
Property Size3,596 SF
Price / SF$176.45
Days on Market59
Property Features for 6276 MAINE
General Information
Standard status
Active
Size
3,596 SF
Property subtype
Multi Family Home
Occupancy
100%
Units
Multifamily Units
3
Office Units
1
Taxes and HOA fees
Annual Taxes
$1,805
Amenities
0.00
Building Details
Year Built
1910
Tenancy
Multi
Listing Agency:
Keller Williams Realty Coeur d'Alene
(208) 660-5785
Listed By:
Thomas J Barnhart · License #SP28263
Source:
Clearwaterproperties
Added: Jul 3
Changed: Aug 28
Last Checked: Aug 28 at 12:08PM
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 Keller Williams Realty Coeur d'Alene
Investment Insights
Based on property information with market context.
This four-unit mixed-use building includes one ground-floor commercial space and three residential apartments. Recent updates noted in the property materials include a newer roof and fresh paint, and the layout is set up with separate utilities to help manage owner expenses. The units are currently occupied, with the property described as having consistently low turnover.
Located on W Maine Street in Spirit Lake, the building is positioned on Spirit Lakes Historic Main Street. The property is described as being one block from the lake, creating a convenient base for local recreation, and the commercial space is called out for high-visibility presence along Maine Street.
For buyers or operators looking for a mixed-use asset, the combination of retail space and apartment units can support an all-in-one investment structure while keeping utilities separated. The recently completed roof and paint updates may reduce near-term building maintenance concerns. With the commercial component benefiting from Maine Street visibility and the residential units currently occupied, the property is positioned for an owner seeking a straightforward, income-producing mix without requiring immediate internal stabilization work.
Located on W Maine Street in Spirit Lake, the building is positioned on Spirit Lakes Historic Main Street. The property is described as being one block from the lake, creating a convenient base for local recreation, and the commercial space is called out for high-visibility presence along Maine Street.
For buyers or operators looking for a mixed-use asset, the combination of retail space and apartment units can support an all-in-one investment structure while keeping utilities separated. The recently completed roof and paint updates may reduce near-term building maintenance concerns. With the commercial component benefiting from Maine Street visibility and the residential units currently occupied, the property is positioned for an owner seeking a straightforward, income-producing mix without requiring immediate internal stabilization work.
Key Highlights
- 4‑unit mixed‑use building on Spirit Lakes Historic Main Street: 1 ground‑floor commercial space and 3 residential apartments
- All units currently occupied
- Separate utilities for the commercial and residential units to help minimize owner expenses
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
$37,623
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
5.93%
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%
$752,460
$752.5K
Cap Rate 7%
$537,471
$537.5K
Cap Rate 9%
$418,033
$418.0K
Market Conditions
NOI Build-Up for 3,596 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
$64.7K $18.00/SF
− Vacancy
−$4.5K −$1.26/SF
EGI
$60.2K $16.74/SF
− OpEx
−$22.6K −$6.28/SF
NOI
$37.6K $10.46/SF
Area
Kootenai County, ID
Vacancy
7.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$752,460
Cap Rate 7%
$537,471
Cap Rate 9%
$418,033
Alternative Uses
Best Use
Mixed Use
$537.5K
$470.3K – $627.1K
NOI $37,623 @ 7.0% cap · market cap 5.93%
Second Best
Retail
$517.8K
$453.1K – $604.1K
NOI $36,248 @ 7.0% cap · market cap 5.71%
Theoretical Best
Office A
$780.1K
$682.6K – $910.1K
NOI $54,605 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
170
Businesses Nearby
9k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
76
Shops & Services
4,767 visits/mo
0.3 miles
First Interstate Bank
Shops & Services
2,610 visits/mo
0.4 miles
Chevron
Shops & Services
1,685 visits/mo
0.2 miles
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 Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four-unit mixed-use property with ground-floor retail and three residential apartments, all currently occupied.
Where is this mixed-use property located?
The property is located at 6276 MAINE Spirit Lake, ID.
What is the asking price?
The asking price for this property is $634,500.
What are key features of this property?
This property features: 4‑unit mixed‑use building on Spirit Lakes Historic Main Street: 1 ground‑floor commercial space and 3 residential apartments; All units currently occupied; Separate utilities for the commercial and residential units to help minimize owner expenses
