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    202 NW 179Th St Ridgefield, WA 98642

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    3.5 acres zoned for commercial service, retail, restaurant, hotel.

    Lot size:
    3.50 Acres

    Property Features for 202 NW 179Th St

    General Information

    Standard status
    Active
    Lot size
    3.50 Acres

    Building Details

    Year built
    1958

    We can help!

    Listing Contact
    Cara Knode
    Source: Exitrealty

    Listing Agency: John L. Scott Real Estate Listing Agent: Cara Knode

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

    Learn more

    Overview

    Commercial Land with Development Potential

    This property features 3.5 acres of level land zoned for General Commercial use, accommodating commercial service, retail, restaurant, and hotel developments. It includes a 1519 sq.ft. single-level residence with 1 bedroom, an office, and 3 bathrooms, currently under a month-to-month lease. Additional structures include a warehouse/shop of approximately 2800 sq.ft. The property has about 115 ft. of frontage on 179th St., situated a couple blocks west of I-5 in a developing commercial, industrial, and residential area. A gated driveway on the east side of the house provides access to the back acreage. The property is currently leased at $2000 per month. Traffic counts on I-5 North at NE 179th St are approximately 112,000, and on I-5 South at NE 179th St approximately 84,000. Contact Clark County for a complete list of potential uses under the General Commercial zoning (chapter 40.230 of the development code).
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Ridgefield
    County
    Clark
    State
    Washington
    Longitude
    -122.6708831
    Latitude
    45.7518552

    Nearby Similar for Sale

    • $1,950,000
      7,169 SF

      Ridgefield Commercial Property - 3.5 Acres

      Prime commercial land with residence & outbuildings. High-growth area near I-5.
      202 179Th St, Ridgefield, WA 98642
      View Details
    • $1,275,000

      18210 Delfel Rd, Ridgefield, WA 98642

      Commercial real estate
      18210 Delfel Rd, Ridgefield, WA 98642
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    FAQs

    What type of property is this?
    Commercial land - 3.5 acres zoned for commercial service, retail, restaurant, hotel.
    Where is this commercial land located?
    The property is located at 202 NW 179Th St Ridgefield, WA.
    What are key features of this property?
    This property features: - General commercial zoning allows for various uses.; - Prime location with approximately 115 ft of frontage on 179th St, near I-5.; - 3.5-acre level lot includes a 1519 sq.ft. residence and a 2800 sq.ft. warehouse/shop.
    (360) 253-4100
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    202 NW 179Th St Ridgefield, WA 98642
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    Ridgefield, WA 98642
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    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
    202 NW 179Th St Ridgefield, WA 98642
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    We can help!
    Listing Contact
    Cara Knode
    Real Estate License ID: 23558
    (360) 253-4100 (360) 608-8631
    Learn more
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