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    1036 Innovation Way Post Falls, ID 83854-7311
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    Property profile & analytics

    1036 Innovation Way, Post Falls, ID 83854-7311

    View on Map
    • Office Spaces
    • 5,786 SF
    • 0.48 lot acres
    Off-Market
    Last Sale Jun 9, 2025
    Property ID
    US27-0701820
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Captured Expressions Taxidermy / Taxidermist
    • Gorton Siding and Remodels / Roofing Company / General Contractor
    • USA Web Pros / Marketing & Advertising / Advertising Agency
    • Contractors Spokane / General Contractor

    Property Details for 1036 Innovation Way

    Year built
    2008
    Construction
    CONCRETE
    Lot size
    0.48 lot acres
    Property type
    Office Spaces
    APN
    P22280020070
    APU
    P22280020070

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 9, 2025 — Innovation Way LLC Sean M West Warranty Deed —
    Mar 8, 2023 — Sean West — Deed · related $500k · First Interstate Bank
    Sep 8, 2016 — Sean West Brenda West Intrafamily Transfer · related $238k · Idaho Independent Bank
    Feb 7, 2014 — Sean West Inland Northwest Bank Warranty Deed —
    May 25, 2007 — Gorton Construction INC Timothy J Morton Warranty Deed $94k · Inland Northwest Bank
    Oct 5, 2005 — Timothy J Morton Keystone Partners LLC Warranty Deed $62k · Idaho Independent Bank

    Description

    This exceptional 5,786 square foot property in Post Falls, Idaho, offers a unique blend of office and industrial space, perfect for a variety of businesses. The single-story building, constructed in 2008, features a spacious 2,940 square foot vacant unit (Unit B) ready for immediate occupancy. This unit boasts 1,440 square feet of well-appointed office space, including a reception area, kitchen/break room, restroom, storage closets, and a media room. The office area features central air conditioning and attractive stained concrete floors with carpeted offices. The remaining 1,500 square feet comprises a versatile shop area with a 12' x 12' roll-up door and impressive 14-foot ceilings, supported by 220 AMP single-phase power. The property is situated in a well-maintained business park, conveniently located off Pleasant View Road from I-90, offering easy access to Spokane, Post Falls, and Coeur d'Alene. The property is zoned for Industrial/Commercial/Retail use and is ideal for businesses needing a combination of office and warehouse/shop space. An optional alarm system is available. The property consists of one building with multiple suites. Cross street is Seltice Way, and the county is Kootenai.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Post Falls
    County
    Kootenai
    State
    Idaho
    Longitude
    -117.009
    Latitude
    47.7149
    CBSA code
    17660
    CBSA name
    COEUR D'ALENE, ID METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,817
    $147,581
    $535,484
    $683,065
    -
    $147,581
    $535,484
    $683,065

    Comparable in this City

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    Similar Nearby for Sale

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      Post Falls Investment Opportunity

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      View Details
    • $730,000
      1,800 SF

      Warehouse/Shop/Office Building on Seltice Way

      Well-maintained commercial building with warehouse, office, and yard space.
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      Post Falls Commercial Opportunity

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      Post Falls Commercial Office Space

      Class A medical/office space for sale or lease in Post Falls.
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      Pending

      Post Falls Commercial Building For Sale

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    Similar Nearby for Lease

    • $3,900 /Mo

      Retail/Office Space Available For Rent

      Retail or office space available on Seltice Way.
      6009 W Seltice Way, Post Falls, ID 83854
      View Details
    • Contact for pricing
      5,819 SF

      Retail Space with Medical Office

      Retail space available for lease at $20.00 PSF/YR, NNN.
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      New Flex Industrial Units Available

      Brand new flex industrial building with highway visibility in Post Falls.
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      1,297 SF

      Post Falls Office/Lab Space

      Office and laboratory space available for rent in Post Falls.
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      3,340 SF

      Industrial/Retail Flex Space For Rent

      3,340 SF flex units near I-90 in Post Falls.
      694 N Baugh Way, Post Falls, ID 83854
      View Details
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    Post Falls, ID 83854-7311
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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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