723 Pine, Sandpoint, ID 83864

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 cash flow with long-term upside.