Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    119 Gray Eagle Ln Newport, WA 99156

    View on Map
    New
    For Sale
    $200,000

    LAND - Newport, WA

    Lot size:
    5.86 Acres
    Added:
    Apr 2, 2026
    Days on Market:
    4
    Last Refresh:
    Apr 5 at 1:06 pm

    Property Features for 119 Gray Eagle Ln

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    443225540001
    Lot size
    5.86 Acres

    Utilities

    Sewer type
    Septic Tank
    Water source
    Well

    Building Details

    Additional Structures
    Workshop

    We can help!

    Listing Contact
    Cheyenne Tate

    Listing agent Cheyenne Tate License #SP56440

    Listing office Berkshire Hathaway Jacklin 23403 E Mission Ave Ste 220K, Coeur d'Alene, WA

    Listing date Apr 2, 2026

    MLS# 202614666

    Copyright © 2026 Spokane Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Land Parcel with Shop Building

    This property features a just-under-6-acre parcel, offering a blend of privacy and convenience. It is suited for a custom home, cabin, or recreational getaway. The property includes a fully insulated 30x30 shop, an installed well and septic system, and readily available power connections. The location provides access to the Pend Oreille River, with a local boat launch nearby. This versatile property is suitable for building, investment, or creating a private retreat.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Newport
    County
    Pend Oreille
    State
    Washington
    Longitude
    -117.1979633
    Latitude
    48.2449849

    Nearby Similar for Sale

    • $57,000

      Highway Frontage Land in Newport

      Commercial land with high visibility and development potential near Newport.
      331861 HIGHWAY 2, NEWPORT, WA 99156
      View Details
    • $599,900

      Rugged Canyon Retreat For Sale

      Unique 60.84-acre Pacific Northwest wilderness with river and abundant wildlife.
      8XX Little Spokane River Rd, Newport, WA 99156
      View Details
    • $149,000

      Recreational Land with Insulated Shop

      5.2 acres with shop, lake access, ideal recreation.
      761 Granite Rd, Newport, WA 99156
      View Details
    • $115,000

      Diamond Lake Land Opportunity

      Land near Diamond Lake, ideal for building or investment.
      Southshore Diamond Lake Rd lot: 6, Newport, WA 99156
      View Details
    • $105,000

      Land Near Diamond Lake

      Land for vacation cabin or full-time home near Diamond Lake.
      Southshore Diamond Lake Rd lot: 11, Newport, WA 99156
      View Details
    • $110,000

      Land Near Diamond Lake

      Land for vacation cabin or full-time home near Diamond Lake.
      Southshore Diamond Lake Rd lot: 9, Newport, WA 99156
      View Details
    • $115,000

      Land Near Diamond Lake

      Land near Diamond Lake, ideal for recreation or investment.
      Southshore Diamond Lake Rd lot: 7, Newport, WA 99156
      View Details
    • $110,000

      Diamond Lake Land Opportunity

      Land near Diamond Lake, ideal for recreation or investment.
      Southshore Diamond Lake Rd lot: 8, Newport, WA 99156
      View Details
    • $299,500

      Newport Land with Shop

      20-acre property with shop, RV parking, and garden.
      800 Hillcrest Ln, Newport, WA 99156
      View Details
    • $105,000

      Land Near Diamond Lake

      Residential lots near Diamond Lake with utilities available.
      Southshore Diamond Lake Rd lot: 10, Newport, WA 99156
      View Details
    • $125,000

      Land Near Diamond Lake

      Residential lots near Diamond Lake, Newport, WA. Water/sewer available.
      Southshore Diamond Lake Rd lot: 3, Newport, WA 99156
      View Details
    • $125,000

      Diamond Lake Land Opportunity

      Land near Diamond Lake, ideal for building or investment.
      Southshore Diamond Lake Rd lot: 2, Newport, WA 99156
      View Details

    FAQs

    What type of property is this?
    Land - Just under 6-acre land parcel with shop building.
    Where is this land located?
    The property is located at 119 Gray Eagle Ln Newport, WA.
    What is the asking price?
    The asking price for this property is $200,000.
    What are key features of this property?
    This property features: Just‑under‑6‑acre parcel offers privacy and space for various uses.; **Includes a fully insulated 30x30 shop.**; Well and septic system are already installed.
    (509) 991-7661
    We can help!
    Listing Contact
    Cheyenne Tate
    Real Estate License ID: SP56440
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!