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    Multi-Purpose Healthcare and Community Facility Title is generated by Realmo AI

    6701 N Idaho Rd, Newman Lake, WA 99025

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

    Type:Mixed Use
    Property size:
    10,800 SF
    Lot size:
    10.09 Acres
    Price / SF:
    $203/SF
    Added:
    May 29, 2026
    Days on Market:
    9
    Last Refresh:
    Jun 6 at 2:02 am

    Property Features for 6701 N Idaho Rd

    General Information

    Standard status
    Active
    Size
    10,800 SF
    Lot size
    10.09 Acres
    Property subtype
    Mixed Use

    Building Details

    Year Built
    2005

    We can help!

    Listing Contact
    Danny Davis

    Listing agent Danny Davis License #ID

    Listing office TOK Commercial

    Listing date May 29, 2026

    Source Crexi

    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 Commercial

    HighLights

    • 10,800 SF multi‑purpose facility built in 2005
    • Sits on 10.09 acres
    • Flexible interior space designed for multiple community uses
    • Includes a commercial kitchen
    • Ample on‑site parking
    • Suitable for assisted living, church, school, or community use

    Overview

    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.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $217.7k $20.16
    − Vacancy −$17.4k −$1.61
    EGI $200.3k $18.55
    − OpEx −$90.1k −$8.35
    NOI $110.2k $10.20
    10,800 SF · lease $20.16/SF/yr · vacancy 8.00% · expense 45.00%

    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 local authorities.
    Location Intelligence

    Current Use by Public Records

    The Love Factor - Liberty ... Counselor

    Suggested Use

    Real Estate Agency Building Supply Spa & Massage Center Auto Repair Shop Kitchen & Bath Showroom Department Store Accounting Firm Grocery & Convenience Store Furniture & Home Goods Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newman Lake
    County
    Spokane
    State
    Washington
    Longitude
    -117.051232
    Latitude
    47.720418

    FAQs

    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 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 SF multi‑purpose facility built in 2005; Sits on 10.09 acres; Flexible interior space designed for multiple community uses
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Danny Davis
    Real Estate License ID: ID
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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