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    332 Gibson Ave Chelan, WA 98816

    Sponsored
    For Sale
    $950,000

    Prime location, dual-parcel development potential.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    337
    This exceptional investment opportunity encompasses two parcels totaling over one-third of an acre at 332 W Gibson Avenue in Chelan, WA. The property is zoned TA-Tourist Accommodation, presenting a multitude of development possibilities for the discerning investor. One parcel features a 1338 square foot house, currently gutted, offering a blank canvas for renovation or demolition to accommodate new construction. The second parcel includes a 626 square foot home currently generating rental income. The strategic location directly across the street from Lakeshore RV Park ensures high visibility and convenient access to amenities. This versatile property is ideally suited for a variety of uses, including townhomes, a hotel, resort, short-term rentals, a bed-and-breakfast, retail space, or even an RV park. The high demand for accommodations in this area makes this a lucrative investment with significant upside potential. This is a rare chance to acquire a substantial property in a prime location with exceptional development flexibility. Don't miss this chance to capitalize on the thriving Chelan market. The asking price is $950,000.

    Property Features for 332 Gibson Ave

    General Information

    Property type
    Other commercial real estate

    Building Details

    Year Built
    1922
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Dental Office Hair Salon Spa & Massage Realty agency Nail Salon Auto Repair Shop Building Supply Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Chelan
    County
    Chelan
    State
    Washington
    Longitude
    -120.0236
    Latitude
    47.845

    Nearby Comparable

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    Nearby Similar for Sale

    • $4,200,000
      8,201 SF

      Chelan Retail Investment Opportunity

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    • $950,000

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      Established Chelan Assisted Living Facility

      Profitable business, leasehold opportunity.
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      Lake Chelan Restaurant Opportunity

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    FAQs

    What type of property is this?
    Commercial real estate - Prime location, dual-parcel development potential.
    Where is this commercial real estate located?
    The property is located at 332 Gibson Ave Chelan, WA.
    What is the asking price?
    The asking price for this property is $950,000.
    (253) 841-7000
    Request Owner's contact information
    332 Gibson Ave Chelan, WA 98816
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    Chelan, WA 98816
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    Realmo Value Estimation

    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.

    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.

    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
    332 Gibson Ave Chelan, WA 98816
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