Building Details

Building Size 10,800 SF

Year Built 2005

Listing Agency: TOK Inland Northwest LLC

Listed By: Danny Davis · License #AB34364 Show Phone

Source: Tokcommercial

Added: Jun 1 Changed: Oct 25 Last Checked: Oct 24 at 3:11PM

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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

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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 / Yr

$110,170

Cap Rate

5.01%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,203,400 $2.2M

Cap Rate 7%

$1,573,857 $1.6M

Cap Rate 9%

$1,224,111 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,800 SF

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 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. How Realmo checks its estimates

Property Analytics

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Open Analytics

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

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 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