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

    NKA Lance Hill Rd Cheney, WA 99004

    View on Map
    For Sale
    $90,000

    LAND - Cheney, WA

    Lot size:
    10.88 Acres
    Added:
    May 26, 2023
    Days on Market:
    1047
    Last Refresh:
    Apr 6 at 2:06 am

    Property Features for NKA Lance Hill Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    02226.9011
    Lot size
    10.88 Acres

    We can help!

    Listing Contact
    Kari Aquino-Hayes

    Listing agent Kari Aquino-Hayes License #AB45887

    Listing office John L Scott, Inc. 1500 W 4TH AVE STE 202, Spokane, WA

    Listing date May 26, 2023

    MLS# 202316156

    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 in Cheney, WA

    This property offers country living with a 10.88 acre parcel available. The parcel has access to either Pine Springs or Lance Hill Road. Additional adjacent parcels are also available for purchase.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Cheney
    County
    Spokane
    State
    Washington
    Longitude
    -117.629
    Latitude
    47.411

    Nearby Similar for Sale

    • $600,000
      5,284 SF

      Updated Multifamily Near Eastern Washington

      Updated 11-bedroom multifamily property near Eastern Washington University.
      317 College Ave, Cheney, WA 99004
      View Details
    • $1,599,900
      8,000 SF

      Versatile Shop/Home on 20 Acres

      8,000 sq ft multi-use space on 20 acres.
      14414 S Stangland Rd, Cheney, WA 99004
      View Details
    • $450,000
      2,215 SF

      Victorian 4-Plex Near EWU Campus

      Charming 4-unit rental property near Eastern Washington University.
      422 4th St, Cheney, WA 99004
      View Details
    • $399,000

      32.69 Acres Overlooking Williams Lake

      Land with well, perc testing, and septic site plan.
      W Williams Lake Rd, Cheney, WA 99004
      View Details
    • $850,000
      4,148 SF

      Cheney Automotive Business Opportunity

      Established automotive business with flexible occupancy and strong performance.
      200 Betz Rd, Cheney, WA 99004
      View Details
    • $350,000

      20 Acres of Land in Cheney

      Secluded 20-acre property near Cheney with power and pole building.
      5306 W Curtis Rd, Cheney, WA 99004
      View Details
    • $634,900

      Subdividable Acreage with New Well

      87.13 acres with new well, power, and subdividing potential.
      NKA S Ritchey Rd, Cheney, WA 99004
      View Details
    • $451,630

      60 Acres Near Wildlife Refuge

      60 acres of land near Turnbull National Wildlife Refuge.
      UNK S Cheney Plaza Rd, Cheney, WA 99004
      View Details
    • $330,000

      28.85 Acres Land Parcel

      Large land parcel with infrastructure near Spokane.
      20112 W Baker Rd, Cheney, WA 99004
      View Details
    • $180,000

      Cheney Land with Recreational Access

      20.31 acres near Cheney with access to recreation.
      NKA W Cheney Plaza Rd, Cheney, WA 99004
      View Details
    • $180,000

      20.31 Acres Near Cheney, WA

      20.31 acres near lakes, wildlife refuge, and state land.
      NKA W Cheney Plaza Rd, Cheney, WA 99004
      View Details
    • $269,950

      Treed Acreage Ready for Development

      12.38 acres near Spokane with well and power.
      TDB S Goss Rd, Cheney, WA 99004
      View Details

    FAQs

    What type of property is this?
    Land - 10.88 acre land parcel in a country setting.
    Where is this land located?
    The property is located at NKA Lance Hill Rd Cheney, WA.
    What is the asking price?
    The asking price for this property is $90,000.
    What are key features of this property?
    This property features: Three adjacent 10.88 acre parcels available.; Discounted pricing for purchasing multiple parcels: $115,000 for one, $220,000 for two, $330,000 for all three.; Each parcel offers country living.
    (509) 455-8600
    We can help!
    Listing Contact
    Kari Aquino-Hayes
    Real Estate License ID: AB45887
    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!