Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1017.97 Acres Farm/Ag Property Title is generated by Realmo AI

    27000-blk South Pine Springs Road, Cheney, WA 99004

    View on Map
    Claim this Listing
    For Sale
    $3,155,707

    Large acreage farm and hunting property with development potential.

    Type:Land / Unimproved Land
    Property size:
    44,342,773 SF
    Lot size:
    1,017.97 Acres
    Price / SF:
    $0.07/SF
    Added:
    Nov 6, 2024
    Days on Market:
    572
    Last Refresh:
    Mar 13 at 11:18 am

    Property Features for 27000-blk South Pine Springs Road

    General Information

    Standard status
    Active
    Size
    44,342,773 SF
    Lot size
    1,017.97 Acres
    Property subtype
    Land / Unimproved Land

    We can help!

    Listing Contact
    Benji Estrellado

    Listing agent Benji Estrellado License #11892

    Listing office Cheney Realty, Inc.

    Listing date Nov 6, 2024

    Source Compass

    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 Cheney Realty, Inc.

    HighLights

    • 1017.97 acres across 5 parcels
    • Over 5000 feet of road frontage
    • Zoned RCV and RT offering development possibilities
    • Suitable for farming/agricultural use
    • Great hunting property
    • Enjoy the territorial view

    Overview

    This property consists of 5 parcels totaling 1017.97 acres. Parcel #02091.9001 is zoned RCV (Rural Conservation), while the remaining parcels are zoned RT (Rural Traditional). The property features over 5000 feet of road frontage. This farm and agricultural property also presents opportunities as a hunting property. Potential uses include continuing its operation as a farm or developing the property.
    Location Intelligence

    Current Use by Public Records

    Hunting land

    Map

    City
    Cheney
    County
    Spokane
    State
    Washington
    Longitude
    -117.757443
    Latitude
    47.397922

    Nearby Similar for Sale

    • $1,599,900
      8,000 SF

      Versatile Shop/Home on 20 Acres

      8,000 sq ft multi-use space on 20 acres.
      14414 S Stangland Rd, Cheney, WA 99004
      View Details
    • $600,000
      5,284 SF

      Updated Multifamily Near Eastern Washington

      Updated multifamily property near Eastern Washington University with commercial kitchen.
      317 College Ave, Cheney, WA 99004
      View Details
    • $850,000
      4,148 SF

      Cheney Automotive Business Opportunity

      Established automotive business with flexible occupancy and strong performance.
      200 Betz Rd, Cheney, WA 99004
      View Details
    • $1,350,000
      4,736 SF

      Established Auto Body Shop ForSale

      Profitable auto body shop with equipment, business, and property included.
      2218 1st St, Cheney, WA 99004
      View Details
    • $450,000
      2,215 SF

      Victorian 4-Plex Near EWU Campus

      Charming 4-unit rental property near Eastern Washington University.
      422 4th St, Cheney, WA 99004
      View Details
    • $249,950

      Treed Acreage Ready for Development

      12.38 acres near Spokane with well and power.
      TDB S Goss Rd, Cheney, WA 99004
      View Details
    • $4,235,000

      770 Acres on Badger Lake

      Large acreage with lake frontage near Cheney, Washington.
      Williams Lake Rd, Cheney, WA 99004
      View Details
    • $549,900

      87-Acre Land Near Cheney, WA

      Buildable acreage with well, power, pond, and development potential.
      NKA S Ritchey Rd, Cheney, WA 99004
      View Details
    • $750,000

      Vacant Office and Retail Space

      Office and retail space in prime location with high potential.
      1705 2nd St, Cheney, WA 99004
      View Details
    • $249,950

      Treed Land with Well and Power

      11.8 acre treed land with well and power in Cheney.
      S Goss Rd, Cheney, WA 99004
      View Details
    • $189,000

      Secluded Treed Land Parcel

      20.49 acre treed parcel with building locations near Cheney.
      Lorna Ln, Cheney, WA 99002
      View Details
    • $399,000

      Land Overlooking Williams Lake

      32.69 acres with well, perc test, and septic plan.
      W Williams Lake Rd, Cheney, WA 99004
      View Details

    FAQs

    What type of property is this?
    Agricultural land / Farmland - Large acreage farm and hunting property with development potential.
    Where is this agricultural land / farmland located?
    The property is located at 27000-blk South Pine Springs Road Cheney, WA.
    What is the asking price?
    The asking price for this property is $3,155,707.
    What are key features of this property?
    This property features: 1017.97 acres across 5 parcels; Over 5000 feet of road frontage; Zoned RCV and RT offering development possibilities
    (509) 990-9221
    We can help!
    Listing Contact
    Benji Estrellado
    Real Estate License ID: 11892
    Learn More
    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
    27000-blk South Pine Springs Road, Cheney, WA 99004
    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!