Not everyone wants to be downtown Coeur d’Alene, but enough sure do to keep the real estate active throughout the year.
For this week’s Neighborhood of the Week, we’re keeping it as easy as 1, 2, 3… that is, First, Second and Third streets south of Foster and heading toward Lake Coeur d’Alene. OK, we’re also throwing in Fourth Street, and a little later, there will be some commercial real estate talk on the far east side of downtown. No reason to be so square-minded, amiright?
A stretch of this area qualifies as the Garden District, which consists of some beautiful older homes as well as many immaculate remodels that keep in the spirit of the area. As with anywhere, the lake rule applies here… the closer you get to the lake, the more you’ll pay.
The most affordable current option appears to be a home just off Third Street near Garden Avenue. It’s an itty bitty little place — two bedrooms, one bath and 827 square feet. It’s zoned R-17, which opens up several different options for permitted use. It’s priced around $212,000 in its current form.
This stretch of downtown provides several interesting options. Chuck Taylor with the Real Team Real Estate Center represents a four-bedroom home along Third Street on Indiana Avenue with both commercial and residential potential.
Taylor said he sees the property as a good opportunity for potential commercial use, and considers the downtown area and Coeur d’Alene in general to be in a good shape in terms of commercial real estate options and sales.
“Usually commercial always lags residential, but commercial properties are moving quite quickly,” Taylor said. “There seems to be confidence in the market.”
Taylor believes the area’s push to support a booming retirement demographic will continue to fuel the need for medical-type facilities. The 20-year real estate veteran said he’d still like to see more employment opportunities for young families that can drive a future need for both residential and commercial sales.
Taylor sees this property, as well as the areas of downtown stretching east, past 15th Street as areas for future expansion.
“Because of the property pricing in the downtown area, it’s going to be driving investors towards that way,” he said. “It’s still close to the lake… I see development going on there — smaller businesses, and I expect to see some more condominiums in that area. Lower priced ones than some in other areas.”
Returning to the 1-2-3 theme (not a great theme in hindsight), there are a few other intriguing opportunities in the First-Third area downtown. For more information on the area and properties with potential as both commercial and residential spaces, contact Chuck Taylor at 208-661-6200 or email him at email@example.com. His website is IdahoHomes4Sale.com.
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Let us know about more standout neighborhoods and developments that we may feature in an upcoming Neighborhood of the Week. Contact Tyler Wilson at firstname.lastname@example.org.
Real Estate Agents, take advantage of Neighborhood of the Week by sending in your suggestions for featured areas, including sites outside the normal confines of Coeur d’Alene, Post Falls and Hayden.