Building Details

Year Built 2005

Listing Agency: TOK Inland Northwest LLC d***@tokcommercial.com Show Phone

Listed By: Danny Davis · License #AB34364

Source: Clearwaterproperties

Added: Jun 1 Changed: Aug 31 Last Checked: Sep 1 at 2:56PM

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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 TOK Inland Northwest LLC

Investment Insights

Based on property information with market context.

This 10,800 SF high-quality multi-purpose facility is set on 10.09 acres and offers flexible interior space for a range of community and healthcare-oriented uses. The building includes a commercial kitchen and is designed to support operations that require both functional gathering areas and food service capability. Ample on-site parking supports day-to-day accessibility for staff, residents, students, and guests.

The property is positioned between Spokane and Coeur d’Alene, providing convenient regional access. It is also described as being near major retail and residential growth, which may support sustained patronage depending on the specific program or tenant strategy.

For buyers or operators, the layout and included commercial kitchen make it workable for assisted living while also fitting other community-driven concepts such as a church, school, or similar community use. The combination of flexible interior space and on-site parking can simplify operations for scheduled events, daily services, and recurring traffic patterns associated with education and religious or community programs.

Key Highlights

• 10,800 SF multi‑purpose facility built in 2005
• Sits on 10.09 acres
• Flexible interior space designed for multiple community uses

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

$110,170

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

5.01%

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%

$2,203,400 $2.2M

Cap Rate 7%

$1,573,857 $1.6M

Cap Rate 9%

$1,224,111 $1.2M

Market Conditions

NOI Build-Up for 10,800 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

$217.7K $20.16/SF

− Vacancy

−$17.4K −$1.61/SF

EGI

$200.3K $18.55/SF

− OpEx

−$90.1K −$8.35/SF

NOI

$110.2K $10.20/SF

Area

Spokane County, WA

Vacancy

8.00%

Lease Rate

$20.16 /SF/Yr

Expense Ratio

45.00%

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%

$2,203,400

Cap Rate 7%

$1,573,857

Cap Rate 9%

$1,224,111

Alternative Uses

Best Use

Apartment 5plus

$1.57M

$1.38M – $1.84M (±1% cap)

NOI $110,170 @ 7.0% cap · market cap 5.01%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.50M

$2.18M – $2.91M (±1% cap)

NOI $174,690 @ 7.0% cap · market cap 7.94%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

The Love Factor - Liberty ... Counselor

Suggested Use

Top Pick Real Estate Agency Auto Repair Shop Furniture & Home Goods Grocery & Convenience Store Kitchen & Bath Showroom Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

13

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 99025, WA

5,272

Population

2,328

Households

2.3

Avg Household Size

45

Median Age

24%

College-Educated

95%

High-School Grad

45.8 sq mi

ZIP Area

115

Density / Sq Mi

$117,283

Median Household Income

$49,846

Median Earnings

$1,362

Median Rent

$458,100

Median Home Value

Questions? Ask Rey

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What type of property is this? Where is this assisted living facilities located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Assisted living facility - Multi-purpose 10,800 SF facility with a commercial kitchen and ample parking, suited for assisted living or community uses.

Where is this assisted living facility located?

The property is located at 6701 Idaho Newman Lake, WA.

What is the asking price?

The asking price for this property is $2,200,000.

What are key features of this property?

This property features: 10,800 SF multi‑purpose facility built in 2005; Sits on 10.09 acres; Flexible interior space designed for multiple community uses