723 Pine St, Sandpoint, ID 83864
- $699,000
- 2,370
- SqFt
- List Price
- $699,000
- Status
- ACTIVE
- MLS#
- 20262214
- Year Built
- 1910
- Lot Size
- 6,969
- Acres
- 0.16
- Living Area
- 2,370
- Region
- Sandpoint
- Type
- Commercial
Property Description
723 Pine Street offers an attractive opportunity to acquire an income-producing commercial investment in the heart of Sandpoint. The property features two commercially zoned buildings with NNN leases currently in place, each occupied by an established local business. Unit A is a 1,350 SF medical office with a long-term lease through July 2030 and built-in annual rent increases. Unit B is an approximately 1,000 SF commercial kitchen, providing a second income stream and versatile commercial space. The property has benefited from substantial improvements, including a major remodel in 2012, new roof in 2023, and new HVAC in 2024. Offered at $699,000, the property generates approximately $39,829 in current annualized NOI, representing a 5.70% current cap rate. With two separate commercial buildings, established local tenants, NNN income, off-street parking, recent capital improvements, and a convenient in-town Sandpoint location, 723 Pine Street combines current cash flow with long-term income growth potential.
Additional Information
- Lot Features
- City Lot, In Town, Level
- Acres
- 0.16
- Interior Features
- High Speed Internet
- Heating
- Forced Air, Natural Gas, Central
- Exterior
- Frame, Recycled/Bio-Based Insulation, Wood Siding
- Water
- Public
- Sewer
- Public Sewer
- Garage Description
- Asphalt, 2 Car Detached, Bath Facil., Double Doors, Electricity, Heated Garage, Separate Exit, Workshop in Garage, Water, Workbench, Off Street, Open
- Garage Spaces
- 2
- School District
- Lake Pend Oreille
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Listing courtesy of SILVERCREEK REALTY GROUP.