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

    136 Discovery Crest Pl Port Townsend, WA 98368

    View on Map
    Claim this Listing
    For Sale
    $750,000

    1 - 6 Acres - Port Townsend, WA

    Lot size:
    5.77 Acres
    Added:
    May 20, 2025
    Days on Market:
    337
    Last Refresh:
    Apr 21 at 9:06 am

    Property Features for 136 Discovery Crest Pl

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Active
    APN
    002244005
    Lot size
    5.77 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    2199

    Utilities

    Water front features
    Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Veronica Peterson

    Listing agent Veronica Peterson License #24001504

    Listing office Windermere Sequim 842 E Washington St., Sequim, WA

    Listing date May 20, 2025

    MLS# 390748 Listing URL

    Copyright © 2026 Olympic Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Waterfront Lot with Discovery Bay Views

    This 5.77-acre lot offers views of Discovery Bay. This waterfront property is available for the first time in 35 years. The lot includes a private road, with water and electrical connections trenched to the build site, ready for connection. Located a 15-minute drive from downtown Port Townsend, a historic Victorian town with shopping, restaurants, and culture, the property offers privacy near amenities and the natural beauty of the Quimper & Olympic Peninsula. Suited for a custom home or BnB, the property has no HOA, only a maintenance agreement for the road easement.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Spa & Massage Center Gym & Fitness Center Electrical Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Port Townsend
    County
    Jefferson
    State
    Washington
    Longitude
    -122.867012
    Latitude
    48.0726273

    Nearby Similar for Sale

    • $49,000

      Residential Land Near Admiralty Inlet

      Treed 0.19 acre lot near the water.
      222 Law Avenue, Port Tonwsend, WA 98368
      View Details
    • $720,000
      2,100 SF

      Port Townsend Commercial/Light Industrial Opportunity

      Commercial/light industrial building with expansion potential in Port Townsend.
      826 E Park Avenue, Port Townsend, WA 98368
      View Details
    • $1,839,000
      12,547 SF

      High-Bay Industrial and Office Space

      12,547 SF industrial and office space near Port Townsend.
      231 Otto St, Port Townsend, WA 98368
      View Details
    • $750,000

      Discovery Bay Waterfront Acreage

      5.77 acre waterfront lot with utilities in place.
      136 Discovery Crest Pl #2, Port Townsend, WA 98368
      View Details
    • $445,000

      Uptown Lot with Scenic Views

      Large lot in Uptown neighborhood with views and utilities.
      2021 Clay Street #1, Port Townsend, WA 98368
      View Details
    • $1,159,000
      7,500 SF

      Industrial Warehouse in Port Townsend

      7500 SF warehouse with heavy power and new roof.
      211 Otto St, Port Townsend, WA 98368
      View Details
    • $60,000

      Port Townsend Treed Land Parcel

      Land parcel near Admiralty Inlet, ready for development.
      222 Law Avenue #LOTS 12, 13, 14, Port Townsend, WA 98368
      View Details
    • $123,333
      12,300 SF

      Updated Home in Uptown

      Updated 3 bed/2 bath home in Uptown Port Townsend.
      1738 Washington St, Port Townsend, WA 98368
      View Details
    • $299,000

      Port Townsend Mixed-Use Development Land

      Acre+ mixed-use commercial land in growing Port Townsend area.
      2740 Discovery Road, Port Townsend, WA 98368
      View Details
    • $2,100,000
      13,284 SF

      Historic Victorian Building in Downtown

      Victorian building with retail and office spaces in prime location.
      844 Water St, Port Townsend, WA 98368
      View Details
    • $935,000

      Mixed-Use Condominium in Historic District

      Four-unit mixed-use property in Port Townsend's Fountain District.
      922 Washington Street, Port Townsend, WA 98368
      View Details
    • $425,000

      Secluded Land with Mountain Views

      19.56 acres with yurt near Port Townsend.
      1119 Eaglemount Road #1, Port Townsend, WA 98368
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - 5.77 acre waterfront lot ready for custom home or BnB.
    Where is this waterfront land located?
    The property is located at 136 Discovery Crest Pl Port Townsend, WA.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: Majestic views of Discovery Bay on 5.77 acre waterfront lot.; Rare opportunity: First time on the market in 35 years.; Water and electrical connections trenched to the build site.
    (206) 793-6300
    We can help!
    Listing Contact
    Veronica Peterson
    Real Estate License ID: 24001504
    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!