Office Building with Assembly
For Sale
$2,200,000
6701 N Idaho Rd, Newman Lake, WA 99025
Commercial Sale, Office Building, Newman Lake, WA
Property Size10,800 SF
Lot Size10.09 Acres
Price / SF$203.70
Days on Market89
Property Features for 6701 N Idaho Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Rural Tradition
Security features
Security System
Interior features
Storage, High Speed Internet, Handicap Restrooms
Exterior features
Handicap Access, Lawn, Sprinkler System
Basement
None
Accessibility
Accessible Approach with Ramp
Lot features
Open Lot, Landscaped, Level
View
Territorial
Directions
Traveling north on N Idaho Rd the property is on the left at 6701 N Idaho Rd.
Subdivision
Washington Counties
Standard status
Active
APN
56254.9040
Size
10,800 SF
Lot size
10.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
See attached
Tax Annual Amount
1758
Legal Description
See attached
Utilities
Sewer type
Private Sewer, Septic Tank
Heating system
Forced Air, Natural Gas, Electric (Heating)
Cooling system
Central Air
Water source
Well
Amenities
commercial kitchen
assembly space
Building Details
Year built
2005
Building materials
Fiber Cement, Hardboard, Cement Block, Frame
Roof type
Composition
Architectural style
Other
Additional Structures
Storage
Listing Agency:
TOK Inland Northwest LLC
(208) 378-4600
Listed By:
Danny Davis · License #AB34364
(208) 691-6003
Added: Jun 1
Changed: Aug 26
Last Checked: Aug 28 at 7:06PM
MLS# 26-5631
Copyright © 2026 Coeur d'Alene Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The 10,800-square-foot office building sits on 10.09 acres and was constructed in 2005. Its adaptable interior includes assembly space, a commercial kitchen, storage, high-speed internet, and handicap restrooms. Central air, forced-air heating, natural gas, electric heating, a composition roof, and a combination of fiber cement, hardboard, cement block, and frame construction are in place. The layout is suited to the assisted living, church, school, and community uses identified for the property.
Located at 6701 N Idaho Rd in Newman Lake, the property has lawn areas, a sprinkler system, accessible approach with ramp, handicap access, and ample parking. Water is currently shared with a neighboring system; the seller will deliver a well permit at closing, and the buyer is required to drill a new well within 1 year. Private sewer and a septic tank serve the property.
Located at 6701 N Idaho Rd in Newman Lake, the property has lawn areas, a sprinkler system, accessible approach with ramp, handicap access, and ample parking. Water is currently shared with a neighboring system; the seller will deliver a well permit at closing, and the buyer is required to drill a new well within 1 year. Private sewer and a septic tank serve the property.
Key Highlights
- 10,800 square feet on 10.09 acres
- 2005 construction with adaptable interior configuration
- Commercial kitchen and assembly space for large‑group operations
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
$127,473
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
5.79%
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%
$2,549,460
$2.5M
Cap Rate 7%
$1,821,043
$1.8M
Cap Rate 9%
$1,416,367
$1.4M
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
$216.4K $20.04/SF
− Vacancy
−$46.5K −$4.30/SF
EGI
$170.0K $15.74/SF
− OpEx
−$42.5K −$3.93/SF
NOI
$127.5K $11.80/SF
Area
Spokane County, WA
Vacancy
21.47%
Lease Rate
$20.04 /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%
$2,549,460
Cap Rate 7%
$1,821,043
Cap Rate 9%
$1,416,367
Alternative Uses
Best Use
Office B
$1.82M
$1.59M – $2.12M
NOI $127,473 @ 7.0% cap · market cap 5.79%
Second Best
Apartment 5plus
$1.57M
$1.38M – $1.84M
NOI $110,170 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$2.50M
$2.18M – $2.91M
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
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Flexible interior supports assisted living, church, school, or community-oriented operations.
Where is this office building located?
The property is located at 6701 N Idaho Rd 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 square feet on 10.09 acres; 2005 construction with adaptable interior configuration; Commercial kitchen and assembly space for large‑group operations
