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6236 W Maine St
Spirit Lake, ID 83869
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Solid returns: $44,700 annual income ($3,725/month) with a 6.5% gross cap rate
- Turnkey investment: Fully occupied with stable tenants and strong rental history
- Historic upside: Possible building improvement grants via National Historic Register
- Value-add potential: Below-market rents allow for increased future income
- Diverse income stream: 1 commercial + 3 residential units for income stability
- Prime location: High-visibility spot on Maine Street, just a block from Spirit Lake
EXECUTIVE SUMMARY
Prime 4-unit (1 commercial 3 apartments) investment property in Spirit Lake generating $44,700 annually ($3,725/month) at a strong cap rate with immediate value-add potential through below-market rents. This well-maintained 4,325 sq ft multifamily with ground floor commercial space features updated roof and paint, stable tenants and rental history, separate utilities, great location on Maine Street, just a block to the lake, and perfectly positioned as a gateway to North Idaho. Potential opportunity with any building update grants through National Historic Register. Turnkey investment ready to transfer - all units occupied with low turnover in North Idaho's high-demand rental market!
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
4,325 SF
Building Class
C
Year Built
1905
Price
$645,000
Price Per SF
$149.13
Cap Rate
6.90%
NOI
$44,525
Tenancy
Single
Building Height
3 Stories
Building FAR
1.24
Lot Size
0.08 AC
Zoning
Commercial
Frontage
21’ on West Maine Street
PROPERTY TAXES
| Parcel Number | S45000170050 | Improvements Assessment | $250,751 |
| Land Assessment | $60,500 | Total Assessment | $311,251 |
PROPERTY TAXES
Parcel Number
S45000170050
Land Assessment
$60,500
Improvements Assessment
$250,751
Total Assessment
$311,251
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