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    Prime Commercial Land Opportunity Title is generated by Realmo AI

    Old Diamond Mill Rd, Oldtown, ID 83822

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    Commercial land for retail, lodging, or fast food development.

    Type:Land
    Lot size:
    2.02 Acres
    Added:
    May 3, 2023
    Days on Market:
    1133
    Last Refresh:
    May 12 at 10:40 pm

    Property Features for Old Diamond Mill Rd

    General Information

    Standard status
    Active
    Lot size
    2.02 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Stephen Pohl

    Listing agent Stephen Pohl License #WA 50282

    Listing office NAI Black - Spokane

    Listing date May 3, 2023

    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 NAI Black - Spokane

    HighLights

    • Located in a growing commercial core servicing multiple communities and lake resort areas.
    • High traffic location on State Hwy 2 (Selkirk Loop) with 11,500 VPD ±.
    • Zoned commercial with potential uses including retail, lodging, motor fuel, fast food, and marine services.
    • Utilities stubbed to the property: water, sewer, electric, phone/fiber optic ISP; 3‑phase power available.
    • Two parcels totaling 2.02 acres available for purchase or ground lease.
    • Access to Pend Oreille River with municipal boat launch nearby.

    Overview

    This 2.02-acre commercial property presents a great opportunity for a retail center, lodging, motor fuel store, or fast food/QSR. It is located in the growing commercial core of Oldtown, also servicing Newport, WA, and Priest River, ID. The property is a well-traveled gateway to lake resort communities on Priest Lake and Pend Oreille. Zoned commercial, the property owner will consider a ground lease. The property consists of two parcels: Parcel 2 is 0.53 acres and Parcel 3 is 1.49 acres. Water, sewer, electric, and phone/fiber optic ISP are stubbed to the property. Three-phase power is available to the site. There is loop access easement to both parcels off Old Diamond Mill Road. Old Diamond Mill Rd Access State Hwy 2 aka Selkirk Loop. The property is highly visible to Hwy 2. Access to Pend Oreille River with Municipal Boat Launch Nearby. Traffic count on Hwy 2 is approximately 11,500 vehicles per day. An adjacent tenant is Nomad Coffee, and recorded CC&R'S are in place dated August, 2022. Nearby tenants include Selkirk ACE Hardware, O'Reilly Auto Parts, Family Dollar, Tractor Supply, Super 1 Foods, and Albeni Falls Building Supply.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Oldtown
    County
    Bonner
    State
    Idaho
    Longitude
    -117.0299576
    Latitude
    48.1862155

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    FAQs

    What type of property is this?
    Commercial land - Commercial land for retail, lodging, or fast food development.
    Where is this commercial land located?
    The property is located at Old Diamond Mill Rd Oldtown, ID.
    What is the asking price?
    The asking price for this property is $255,000.
    What are key features of this property?
    This property features: Located in a growing commercial core servicing multiple communities and lake resort areas.; High traffic location on State Hwy 2 (Selkirk Loop) with 11,500 VPD ±.; Zoned commercial with potential uses including retail, lodging, motor fuel, fast food, and marine services.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Stephen Pohl
    Real Estate License ID: WA 50282
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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.

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