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

    1122 Ridgeway Dr Oak Harbor, WA 98277

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Land with permit, septic, water meter, and drive access.

    We can help!

    Listing Contact
    April Rillera
    Source: Corcoran

    Listing Agent: April Rillera

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

    Learn more

    Property Insight Report

    Overview

    Residential Land Ready to Build

    This property is located in a quiet neighborhood just outside of Oak Harbor, adjacent to a natural area. A permit has been issued for construction, and the permit will convey to the buyer with purchase. The property includes an installed septic system, a water meter, and drive access. The foundation has been cut, and the buyer can start pouring the foundation soon after closing.
    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 Hair Salon Nail Salon Building Supply Skin Care Clinic Daycare Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Oak Harbor
    County
    Island
    State
    Washington
    Longitude
    -122.6760559
    Latitude
    48.2825776

    Nearby Similar for Sale

    • $559,000
      3,000 SF

      Commercial Facility Along Highway 20

      3,000 square foot commercial facility in Oak Harbor, Washington.
      1421 SW Barlow St, Oak Harbor, WA 98277
      View Details
    • $559,000
      Pending

      Turn-key Commercial Building in Oak Harbor

      3,000 SF commercial building with flexible layout and strong visibility.
      1421 SW Barlow St, Oak Harbor, WA 98277
      View Details
    • $1,450,000
      4,704 SF

      Oak Harbor Multifamily Investment Opportunity

      8-unit apartment building in Oak Harbor with bay views.
      1475 9Th Ave, Oak Harbor, WA 98277
      View Details
    • $1,400,000
      8,950 SF

      Well-Maintained Office Building For Sale

      Office building with long-term leases, low maintenance, and great tenants.
      499 Midway Blvd, Oak Harbor, WA 98277
      View Details
    • $1,400,000
      8,950 SF

      Well-Maintained Office Building For Sale

      Office building with long-term leases, low maintenance, and great tenants.
      499 NE Midway Blvd, Oak Harbor, WA 98277
      View Details
    • Contact for pricing

      Versatile Commercial Building For Sale

      High-traffic commercial building suitable for retail, office, or warehouse use.
      746 NE Midway Blvd, Oak Harbor, WA 98277
      View Details
    • $2,900,000
      28,166 SF

      Fully Leased Retail Building

      Retail shops and units in Oak Harbor's Historic Downtown.
      656 Bayshore Dr SE, Oak Harbor, WA 98277
      View Details
    • Contact for pricing

      Downtown Oak Harbor Office Building

      Two-story office building with open space and parking.
      275 SE Pioneer Way, Oak Harbor, WA 98277
      View Details
    • Contact for pricing

      Industrial Property in Oak Harbor

      Well-maintained industrial facility on 4.26 acres with highway access.
      3144 NE Halyard Ln, Oak Harbor, WA 98277
      View Details
    • Contact for pricing
      2,694 SF

      Oak Harbor Restaurant/Bar Opportunity

      Restaurant and bar with outdoor dining and upper level lounge.
      31359 State Route 20, Oak Harbor, WA 98277
      View Details
    • $875,000
      4,488 SF

      Oak Harbor Office Building For Sale

      Office building with highway frontage in Oak Harbor, Washington.
      35 SE Ely St, Oak Harbor, WA 98277
      View Details
    • $49,500
      1,015 SF

      Whidbey Island Office Condo

      Commercial office condo for sale with three rooms and reception.
      390 Midway Blvd, Oak Harbor, WA 98277
      View Details

    FAQs

    What type of property is this?
    Land - Land with permit, septic, water meter, and drive access.
    Where is this land located?
    The property is located at 1122 Ridgeway Dr Oak Harbor, WA.
    What are key features of this property?
    This property features: - Permit issued and conveys with purchase, allowing immediate construction.; - Septic and water meter are already installed, saving time and expense.; - Drive access is installed, providing immediate site access.
    Request Owner's contact information
    1122 Ridgeway Dr Oak Harbor, WA 98277
    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.
    1122 Ridgeway Dr
    Oak Harbor, WA 98277
    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
    1122 Ridgeway Dr Oak Harbor, WA 98277
    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
    April Rillera
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!