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    Historic Schoolhouse with Business Potential Title is generated by Realmo AI

    22 PRINDLE RD, Washougal, WA 98671

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    For Sale
    $349,000

    Unique property in Columbia River Gorge, suitable for business or residence.

    Type:Commercial/Industrial
    Property size:
    1,696 SF
    Lot size:
    0.50 Acres
    Price / SF:
    $205/SF
    Added:
    Mar 24, 2026
    Days on Market:
    50
    Last Refresh:
    Feb 10 at 1:44 pm

    Property Features for 22 PRINDLE RD

    General Information

    Standard status
    Active
    Size
    1,696 SF
    Lot size
    0.50 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1912

    We can help!

    Listing Contact
    Gina Nehring

    Listing agent Gina Nehring License #108264

    Listing office Realty Pro West, LLC

    Listing date Mar 24, 2026

    Source Exitrealty

    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 Realty Pro West, LLC

    HighLights

    • Historic Prindle Schoolhouse with Original Character
    • New 3‑bedroom Septic & Well
    • Commercial Potential in Columbia River Gorge (subject to county approval)
    • Convenient Location near SR 14
    • Heating: Pellet Furnace and Wood Burning Stove
    • Extra Storage: Unfinished Basement, Attic, and New Tool Shed

    Overview

    The Old Prindle Schoolhouse retains many of its original features. Situated in the Columbia River Gorge on a little over half an acre, the property includes a new three-bedroom septic system and well. Its location near SR 14 may suit various business ventures, such as an antique or art gallery, bed and breakfast, woodworking shop, glass blowing studio, yoga studio, or meeting place, subject to county approval. The building is heated by a commercial pellet furnace and a free-standing wood-burning stove. Additional storage space is available in the unfinished basement, attic areas, and a new tool shed addition. The previous owner operated a bell manufacturing business and used the building for creative hobbies. The property size is 1696 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Prindle School High School

    Suggested Use

    Hotel & Motel Garden Center Cafe & Coffee Shop Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    Washougal
    County
    Clark
    State
    Washington
    Longitude
    -122.150276
    Latitude
    45.591564

    FAQs

    What type of property is this?
    School - Unique property in Columbia River Gorge, suitable for business or residence.
    Where is this school located?
    The property is located at 22 PRINDLE RD Washougal, WA.
    What is the asking price?
    The asking price for this property is $349,000.
    What are key features of this property?
    This property features: Historic Prindle Schoolhouse with Original Character; New 3‑bedroom Septic & Well; Commercial Potential in Columbia River Gorge (subject to county approval)
    (360) 574-1111
    We can help!
    Listing Contact
    Gina Nehring
    Real Estate License ID: 108264
    Learn More
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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
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