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6236 W Maine St 4,325 SF Retail Building Spirit Lake, ID 83869 $889,088 CAD ($205.57 CAD/SF) 7% Cap Rate
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!
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$62,097
|
$14.36
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$62,097
|
$14.36
|
| Taxes |
$3,306
|
$0.76
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$3,306
|
$0.76
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $62,097 |
| Annual Per SF | $14.36 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $62,097 |
| Annual Per SF | $14.36 |
| Taxes (CAD) | |
|---|---|
| Annual | $3,306 |
| Annual Per SF | $0.76 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $3,306 |
| Annual Per SF | $0.76 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
4,325 SF
Building Class
C
Year Built
1905
Price
$889,088 CAD
Price Per SF
$205.57 CAD
Cap Rate
7%
NOI
$62,236 CAD
Tenancy
Single
Building Height
3 Stories
Building FAR
1.24
Lot Size
0.08 AC
Zoning
Commercial
Frontage
21’ on West Maine Street
Fairly walkable
40/100
Very drivable
80/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | S45000170050 | Total Assessment | $432,390 CAD (2025) |
| Land Assessment | $84,047 CAD (2025) | Annual Taxes | $3,306 CAD ($0.76 CAD/SF) |
| Improvements Assessment | $348,343 CAD (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
S45000170050
Land Assessment
$84,047 CAD (2025)
Improvements Assessment
$348,343 CAD (2025)
Total Assessment
$432,390 CAD (2025)
Annual Taxes
$3,306 CAD ($0.76 CAD/SF)
Tax Year
2024
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6236 W Maine St
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