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    Medical Office Condo For Sale Title is generated by Realmo AI

    980 W IRONWOOD Dr, Coeur d Alene, ID 83814

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    For Sale
    $599,000

    COMMERCIAL - Coeur d'Alene, ID

    Property size:
    3,693 SF
    Lot size:
    0.38 Acres
    Price / SF:
    $162/SF
    Added:
    May 15, 2025
    Days on Market:
    374
    Last Refresh:
    May 23 at 8:06 am

    Property Features for 980 W IRONWOOD Dr

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    C-17L
    Interior features
    Handicap Facility, Elevator
    Exterior features
    Handicap Access
    Basement
    None
    Accessibility
    Accessible Elevator Installed, Accessible Approach with Ramp
    Standard status
    Active
    APN
    CJ3180000220
    Size
    3,693 SF
    Lot size
    0.38 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    CHINOOK MEDICAL OFFICE BLDG CONDOS, UNIT 22 & UNDIV INT IN COMMON AREA CDA HEALTH CORRIDOR URD 1150N04W
    Tax Annual Amount
    11236

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas, Electric (Heating)
    Water source
    Public

    Building Details

    Year built
    2006
    Building materials
    Concrete, Brick
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Pat Eberlin
    Pat Eberlin

    Listing agent Pat Eberlin License #SP37348

    Listing office Kiemle Hagood 1579 W Riverstone Dr Ste. 102, Coeur d'Alene, ID

    Listing date May 15, 2025

    MLS# 25-4848

    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.

    HighLights

    • Class A medical office condominium in a prime location on Ironwood Drive.
    • Direct exterior access door (one of only two suites with this feature).
    • Shell condition allows for custom build‑out.
    • Ample onsite parking exceeding city requirements, including a parking garage with covered drive‑through entry.
    • Pro rata share of common areas and amenities in a four‑level professional office building.
    • Handicap accessible with features including handicap facility, accessible elevator, and accessible approach with ramp.

    Overview

    This Class A medical office condominium is situated in the heart of the Ironwood Drive corridor within the Chinook Medical Building. The condominium offers 3,693 usable square feet and is currently in shell condition. It is one of only two suites in the building featuring direct exterior access. The purchase includes a pro rata share of common areas and their amenities within this four-level professional office building. Onsite parking is available, exceeding city requirements, and includes a parking garage with a covered drive-through entry. The property is located in Coeur d'Alene, Kootenai County, Idaho. The lot size is 0.38 acres. The zoning is C-17L. This suite is also available for lease at a rate of $1.50 PSF per month, NNN and a $50 PSF TIA offered.

    Financial Insights

    Value Estimation Calculated for Healthcare Medical

    Conservative
    $478.2K
    NOI $43,042 @ 9.00% cap · cautious / downside scenario
    Moderate
    $614.9K
    NOI $43,042 @ 7.00% cap · market / base-case scenario
    Aggressive
    $860.8K
    NOI $43,042 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Healthcare Medical

    Component $ $/SF
    Gross rent $77.6k $21.00
    − Vacancy −$5.8k −$1.58
    EGI $71.7k $19.43
    − OpEx −$28.7k −$7.77
    NOI $43.0k $11.66
    3,693 SF · lease $21.00/SF/yr · vacancy 7.50% · expense 40.00%

    Alternative Use Scenarios

    Best Use
    Healthcare Medical
    $614.9K
    $538.0K – $717.4K (±1% cap)
    NOI $43,042 @ 7.0% cap · market cap 7.19%
    Second Best
    Office B
    $571.4K
    $500.0K – $666.7K (±1% cap)
    NOI $40,001 @ 7.0% cap · market cap 6.68%
    Theoretical Best
    Office A
    $801.1K
    $701.0K – $934.6K (±1% cap)
    NOI $56,077 @ 7.0% cap · market cap 9.36%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Pamlpsc Medical Laboratory Pulse Heart Institute ... Physician Kootenai Clinic OBGYN ... Physician Dr. Mary A. Sanderson, ... Physician Beacon CancerCare: Samuels ... Physician

    Suggested Use

    Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Building Supply Nail Salon Daycare Center Gym & Fitness Center Kitchen & Bath Showroom

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

    Location Insight

    • Map
    • Local Demand
    City
    Coeur d Alene
    County
    Kootenai
    State
    Idaho
    Longitude
    -116.799083
    Latitude
    47.694736

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    FAQs

    What type of property is this?
    Medical Office Space - Class A medical office condominium in the Ironwood Drive corridor.
    Where is this medical office space located?
    The property is located at 980 W IRONWOOD Dr Coeur d Alene, ID.
    What is the asking price?
    The asking price for this property is $599,000.
    What are key features of this property?
    This property features: Class A medical office condominium in a prime location on Ironwood Drive.; **Direct exterior access door** (one of only two suites with this feature).; Shell condition allows for custom build‑out.
    (208) 215-1375
    We can help!
    Listing Contact
    Pat Eberlin
    Pat Eberlin
    Real Estate License ID: SP37348
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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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