Investment Opportunity For Sale Coeur d Alene North Office Condos N O R T H W E S T B L V D, C O E U R D A L E N E, I D

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1 Investment Opportunity For Sale Coeur d Alene North Office Condos O F F E R I N G OV E RV I E W * I N V E S T M E N T P R O P E R T Y W I T H G R E A T D I V E R S I T Y A N D U P S I D E * D O W N T O W N C O E U R D ' A L E N E, I D A H O * V I E W S O F L A K E, C O E U R D A L E N E R E S O R T, A N D C I T Y P A R K * S T E P S T O L A K E C O E U R D ' A L E N E A N D W O R L D C L A S S C O E U R D ' A L E N E R E S O R T * A D J A C E N T T O N E W O N E L A K E S I D E 1 5 S T O R Y C O N D O P R O J E C T * 2 5 I N D I V I D U A L O F F I C E C O N D O S F O R S A L E I N P A C K A G E * S C H E D U L E D G R O S S A N N U A L I N C O M E $ 4 2 0, * P A R K I N G G A R A G E W I T H S P A C E S * S A L T W A T E R P O O L, H O T T U B, S A U N A, T E N N I S C O U R T S, G Y M, S O C I A L R O O M W I T H D E C K O V E R L O O K I N G L A K E C O E U R D A L E N E S A L E P R I C E : $ 6, 1 7 5, 0 50 P R I C E P E R S Q U A R E F O O T : $ P E R S Q. F T. Offered By: Jim Koon, Managing Broker (208) or (208) jim@cdabroker.com All square footages are for convenience only. All critical measurements shall be done by Lessee or Buyer.

2 Coeur d Alene North Office Condos 250 NORTHWEST BLVD, COEUR D ALENE, ID Subject Property Coeur d Alene Library Coeur d Alene Lake Coeur d Alene Resort McEuen Park 1st Street Coeur d Alene Avenue Lakeside Avenue Sherman Avenue

3 Description The Coeur d Alene North Condominiums is composed of 109 units in a nine story concrete post-tension tower constructed in Within this complex there are 83 residential units and 26 commercial units. The commercial units are located on the first two floors. Common amenities include a tennis court, swimming pool & spa, exercise room, billiard room, social room with deck overlooking lake, and common area conference room. Parking and access for the commercial units is on the first-floor garage where there are three assigned spaces for each unit and additional parking for clients and employees for a total of 119 parking spaces and area for bicycle parking. This offering is for 25 of the 26 commercial units; a total of 35,286 square feet, plus common areas. Income & Lease Information Current tenants include financial advisors, accountants, attorneys, realtors, counselors, and other professionals. The rent roll effective July 2018 is $382,000 annually, with two vacancies of 3,174 square feet. The estimated Gross Annual Income upon 100% occupancy is $420,088. The duration of most lease agreements is three to five years Expenses HOA Assessments The 25 units contribute 19.66% of the annual HOA budget. The 2018 annual assessment for these 25 units is $95, Within the annual assessment figure, there is 5% designated for the Long-Term Reserve Fund and 15% identified as the Capital Projects Fund which is used to fund major improvements and repairs beyond the scope of the operating budget. Additional Expense HVAC routing maintenance $4,131 $2,968 Plumbing Repairs 0 $501 Window Repairs $260 $1,300 Misc. Maintenance Materials $1,500 $500 Misc. Labor $1,000 $500

4 2017 Property Taxes Property Tax for 2017 was $46,917. Insurance Currently the Owner of these 25 commercial office units self insured all units. The estimate for an insurance policy is $4, by Oregon Mutual Insurance Company. I N C O M E A N A LY S I S P O T E N T A I L G R O S S A N U U A L I N C O M E : $ 4 2 0, L E S S V A C A N C Y ( 3 % ) ( $ 1 2, ) A D J U S T E D G R O S S A N N U A L I N C O M E : $ 4 0 7, O P E R A T I N G E X P E N S E S : T A X E S : ( $ 4 6, ) I N S U R A N C E : ( $ 4, ) H O A : ( $ 9 5, ) I N C L U D E S R E S E R V E A D D I T I O N A L E X P E N S E S : ( $ 4, ) T O T A L O P E R A T I N G E X P E N S E S : ( $ 1 5 1, ) P O T E N T I A L N E T I N C O M E : $ 2 5 5, S A L E P R I C E : $ 6, 1 7 5, C A P R A T E : 4. 1 %

5 First & Second Floor

6 CDA North Parking Garage

7 Coeur d Alene North Office Condos 250 NORTHWEST BLVD, COEUR D ALENE, ID Subject Property