Sign Up Successful!
You now have access to more from Realmo!
    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

    621 S State Ave Newport, WA 99156

    Sponsored
    For Sale
    $59,950

    LAND - Newport, WA

    Lot size:
    0.09 Acres
    Days on Market:
    8
    Last Refresh:
    Jan 31 at 10:06 am

    Property Features for 621 S State Ave

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    res
    APN
    463119530097
    Lot size
    0.09 Acres

    We can help!

    Listing Contact
    Sabrina Jones-Schroeder

    EXIT Real Estate Professionals (509) 535-8400

    Listing agent Yvonne Dalke (425) 829-3772

    Listing date Jan 24, 2026

    MLS# 202525248 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Residential Lot in Newport, WA

    This residential lot, sized at 0.0937 acres, is located in Newport, WA. It is ready for development with water, sewer, PUD electricity, and fiber optics available for connection. The property is situated in a welcoming neighborhood, offering close proximity to town amenities. Spokane International Airport is a short drive away. The location provides access to outdoor recreation, including the river, mountains, golf courses, and casinos.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Newport
    County
    Pend Oreille
    State
    Washington
    Longitude
    -117.0399
    Latitude
    48.1752

    Nearby Similar for Sale

    • $774,000
      14.00 Acres

      Insulated Shop on Lush Acres

      12,000 sq ft insulated shop on 14 acres.
      583 Fertile Valley Rd, Newport, WA 99156
      View Details
    • $2,350,000

      Northeastern Washington Ranch Retreat

      226-acre ranch with custom home, barn, and creek frontage.
      27120 E Blanchard Loop Rd, Newport, WA 99156
      View Details
    • $675,000

      Restaurant Opportunity in Newport

      Equipped restaurant with patio and high visibility in Newport.
      125 N Washington Ave, Newport, WA 99156
      View Details
    • $1,850,000
      3,644 SF

      Restaurant Building with Banquet Room

      Restaurant building with banquet room and chef's kitchen for sale.
      1596 W 7Th St, Newport, WA 99156
      View Details
    • $1,975,000

      24-Unit Motor Inn For Sale

      24-unit motor inn with restaurant/bar and manager's quarters.
      924 Highway 2 W, Newport, WA 99156
      View Details
    • $299,000
      980 SF

      Renovated Home on Two Acres

      Renovated home on two acres near Diamond Lake boat launch.
      301 Casey Rd, Newport, WA 99156
      View Details
    • $2,300,000
      8,052 SF

      Prime Newport Highway Motel & Restaurant

      Profitable 24-unit motel with restaurant.
      924 Hwy 2 Hwy, Newport, WA 99156
      View Details
    • $492,000
      0.30 Acres

      Established Newport Auto Repair Business

      High-growth potential, sole provider in 40-mile radius.
      333209 Highway 2, Newport, WA 99156
      View Details
    • $625,000
      2,438 SF

      this is a perfect spot year round spot! Completely & beautifully renovated in 2021 offering turnkey ownership including all equipment! Picture perfect

      wrapped in a bow & ready for the next business owner or investor! Absolutely everything is here to achieve success! Looking for something else...there are 5 parcels with mixed use ability & additional storage units! Think tiny homes\/mini lake resort
      802 Southshore Diamond Lake Rd, Newport, WA 99156
      View Details
    • $1,850,000
      3,644 SF

      Newport Restaurant & Real Estate

      Established Restaurant, Hwy 2 Frontage
      1596 7Th St, Newport, WA 99156
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential lot ready for development with utilities in Newport, WA.
    Where is this residential land & home lot located?
    The property is located at 621 S State Ave Newport, WA.
    What is the asking price?
    The asking price for this property is $59,950.
    What are key features of this property?
    This property features: - 30x136 lot suitable for building a dream home or investment property.; - Ready to connect to water, sewer, PUD electricity, and fiber optics for easy development.; - Located in the heart of Newport, WA, offering close proximity to town amenities.
    (509) 535-8400
    Request Owner's contact information
    621 S State Ave Newport, WA 99156
    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.
    621 S State Ave
    Newport, WA 99156
    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
    621 S State Ave Newport, WA 99156
    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

    We can help!
    Listing Contact
    Sabrina Jones-Schroeder
    Real Estate License ID: 2098
    (509) 535-8400
    Learn more
    Google sign-in failed. Please try again or use another login method.