Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Monroe Development Opportunity: 2.78 Acres Title is generated by Realmo AI

    16311 177th Avenue, Monroe, WA 98272

    View on Map
    Claim this Listing
    For Sale
    $3,000,000

    2.78 acres in Monroe with mixed-use zoning and income potential.

    Added:
    May 9, 2025
    Days on Market:
    388
    Last Refresh:
    Mar 16 at 9:09 am

    Property Features for 16311 177th Avenue

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    CHAD FOSTER

    Listing agent CHAD FOSTER

    Listing office FIRST AND MAIN

    Listing date May 9, 2025

    Source Corcoran

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of FIRST AND MAIN

    HighLights

    • Prime 2.78‑acre development opportunity in Monroe with Mixed Use – General (MG) zoning.
    • Pre‑application submitted for 44 fee simple lots, ideal for residential development.
    • Immediate income potential as an existing RV and boat storage facility.
    • Central location with convenient access to major highways.
    • Suitable for residential or commercial use.
    • Located in an area with growing demand.

    Overview

    This 2.78-acre property in Monroe, Washington, comprises two parcels zoned Mixed Use – General (MG), presenting various development possibilities. Currently, the site is utilized as an RV and boat storage facility, providing immediate income potential. A pre-application has been submitted for 44 fee simple lots, indicating potential for residential development. The property benefits from its central location, convenient access to major highways, and growing demand in the area. This site is ready for new development ideas.
    Property Profile Location Intelligence

    Current Use by Public Records

    LaVend Vending & Management ... Big Box & Wholesale Store RS Park Place ... Storage Facility RS Park Place, ... Storage Facility Refined Motorsports LLC Car Dealership

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Monroe
    County
    Snohomish
    State
    Washington
    Longitude
    -121.992
    Latitude
    47.8483

    Nearby Similar for Sale

    • $650,000
      4,685 SF

      Downtown Monroe Retail Opportunity

      Retail property in historic downtown Monroe, Washington.
      118 Lewis St, Monroe, WA 98272
      View Details
    • $1,500,000

      Highway 2 Commercial Redevelopment Opportunity

      High-visibility commercial property with redevelopment potential and existing income.
      19930 State Route 2, Monroe, WA 98272
      View Details
    • $1,100,000
      4,992 SF

      Downtown Monroe Commercial Building

      4,992 SF commercial building in downtown Monroe for sale.
      381 E Main St, Monroe, WA
      View Details
    • $3,600,000
      11,300 SF

      Monroe Warehouse with Secured Yard

      11,300 SF warehouse with 18,000 SF secured yard.
      17120 Tye Street SE, Monroe, WA 98272
      View Details
    • $1,100,000
      4,992 SF

      Downtown Monroe Commercial Building Opportunity

      4992 sq ft commercial building in downtown Monroe.
      381 E Main Street, Monroe, WA 98272
      View Details
    • $3,600,000

      Monroe Warehouse with Secured Yard

      11,300 SF warehouse with 18,000 SF secured yard.
      17120 Tye Street Southeast, Monroe, WA
      View Details
    • $1,910,000
      5,712 SF

      Monroe Multifamily Investment Opportunity

      Six-unit multifamily property in Monroe, WA, near Evergreen State Fair.
      356 Elizabeth St, Monroe, WA 98272
      View Details
    • $1,100,000

      Downtown Monroe Commercial Property

      Prime commercial property in downtown Monroe with flexible configurations.
      123 N Lewis Street, Monroe, WA 98272
      View Details
    • $450,000

      Sultan River Frontage Land

      Rare 7+ acre riverfront property with power and well.
      13916 302nd Avenue SE, Monroe, WA 98272
      View Details
    • $3,800,000
      11,300 SF

      Warehouse with Secured Yard

      11,300 SF warehouse with 18,000 SF secured yard.
      17120 Tye St SE, Monroe, WA 98272
      View Details
    • $8,100,000
      26,400 SF

      29-Unit Multifamily Community in Monroe

      Well-maintained 29-unit apartment community with modern upgrades and strong performance.
      0 700 W Maple St, Monroe, Monroe, WA 98272
      View Details
    • $449,000

      Monroe Corner Lot in Skyview

      4.9 acre corner lot with mountain views and utilities.
      17512 260th Avenue, Monroe, WA 98272
      View Details

    FAQs

    What type of property is this?
    Commercial land - 2.78 acres in Monroe with mixed-use zoning and income potential.
    Where is this commercial land located?
    The property is located at 16311 177th Avenue Monroe, WA.
    What is the asking price?
    The asking price for this property is $3,000,000.
    What are key features of this property?
    This property features: Prime 2.78‑acre development opportunity in Monroe with Mixed Use – General (MG) zoning.; Pre‑application submitted for 44 fee simple lots, ideal for residential development.; Immediate income potential as an existing RV and boat storage facility.
    We can help!
    Listing Contact
    CHAD FOSTER
    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

    Thank You for Inquiry
    16311 177th Avenue, Monroe, WA 98272
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!