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

    863 N SHEPHERD Rd Washougal, WA 98671

    View on Map
    Claim this Listing
    For Sale
    $1,399,000

    LAND - Washougal, WA

    Lot size:
    2.00 Acres
    Added:
    May 14, 2025
    Days on Market:
    347
    Last Refresh:
    Apr 25 at 7:06 pm

    Property Features for 863 N SHEPHERD Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R1-10
    Standard status
    Active
    APN
    131195000
    Lot size
    2.00 Acres

    Taxes and HOA fees

    Tax Description
    LOT 1 SP3-390 2A FOR ASSESSOR USE ONLY LOT 1 SP3-390 2A
    Tax Annual Amount
    9471

    We can help!

    Listing Contact
    Lana Erickson

    Listing agent Lana Erickson

    Listing office Windermere Northwest Living 1401 SE 164th Ave Ste 190, Vancouver, WA

    Listing date May 14, 2025

    MLS# 640815041 Listing URL

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

    Overview

    Historic Washougal Land Subdivision Opportunity

    This well-maintained 2-acre property in Washougal offers a rare opportunity. The site, known as "Doc Stefan's House," features a historic craftsman-style home overlooking an expansive, park-like yard. The property extends up from the Washougal River and is located near the Sandy Swimming Hole. According to the city, the lot may be subdivided into two additional lots, for a total of three. The location provides ease of access to schools, medical care, fishing, hiking, shopping, and boating. Situated in an established community, this property offers acreage and architecture. It is located near the Columbia Gorge.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Washougal
    County
    Clark
    State
    Washington
    Longitude
    -122.363204
    Latitude
    45.589971

    Nearby Similar for Sale

    • $305,000

      Washougal Land with Creek

      Scenic Washougal land with creek, barn, and approved septic.
      Arrowhead Trails, Washougal, WA 98671
      View Details
    • $299,900

      Riverfront Land Parcel For Sale

      5-acre gated riverfront parcel ready for your dream home.
      35034 NE 5TH St, Washougal, WA 98671
      View Details
    • $299,900

      Riverfront Land Parcel For Sale

      5-acre riverfront lot with territorial views in Washougal, WA.
      NE 5TH St, Washougal, WA 98671
      View Details
    • $395,000

      Residential Land with Sweeping Views

      Last available lot with city, hills, and river views.
      1697 N COLUMBIA RIDGE Way, Washougal, WA 98671
      View Details
    • $349,000
      1,696 SF

      Historic Schoolhouse with Business Potential

      Unique property in Columbia River Gorge, suitable for business or residence.
      22 PRINDLE RD, Washougal, WA 98671
      View Details
    • $556,000

      Washougal Land with Sweeping Views

      Private 20-acre timbered land with unmatched views and seclusion.
      Skamania Mines Rd, Washougal, WA 98671
      View Details
    • $395,000

      Secluded Timberland View Property

      Private 20-acre timbered parcel with unmatched views.
      Skamania Mines Rd, Washougal, WA 98671
      View Details
    • $5,999,999

      Washougal Land Subdivision Opportunity

      Subdivision with 72 lots, views, Camas schools, convenient location.
      LeBurn Rd, Washougal, WA 98671
      View Details
    • $230,000

      Washougal Land with Timber

      2.07 acres of timbered land with valley views.
      57th St, Washougal, WA 98671
      View Details
    • $419,000

      5.2 Acre Washougal Land

      5.2 acre property in gated community with utilities.
      NE 24th St, Washougal, WA 98671
      View Details
    • $225,000

      Washougal Land with Creek

      Secluded 3.3 acre land with trees and creek.
      MATTHEWS Rd, Washougal, WA 98671
      View Details
    • $2,045,000

      Washougal Industrial/Flex Property For Sale

      Functional industrial/flex property in Washougal industrial market.
      421 C St Suites 3A & 3B, Washougal, WA 98671
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Two-acre Washougal property with subdivision potential near the Columbia Gorge.
    Where is this residential land & home lot located?
    The property is located at 863 N SHEPHERD Rd Washougal, WA.
    What is the asking price?
    The asking price for this property is $1,399,000.
    What are key features of this property?
    This property features: Large 2‑acre property with subdivision potential (up to 3 lots total).; Historic craftsman‑style home, known as "Doc Stefan's House."; Extremely well‑maintained property with a park‑like yard.
    (360) 690-6131
    We can help!
    Listing Contact
    Lana Erickson
    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!