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    Corner Lot Multi-Family Development Title is generated by Realmo AI

    15102 NE 81ST Way, Vancouver, WA 98682

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    Claim this Listing
    New
    For Sale
    $329,000

    LAND - Vancouver, WA

    Type:Single Family Residence
    Lot size:
    0.33 Acres
    Added:
    Jun 1, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 3 at 1:06 am

    Property Features for 15102 NE 81ST Way

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Zoning
    R1-6
    Standard status
    Active
    APN
    107961502
    Lot size
    0.33 Acres

    Taxes and HOA fees

    Tax Description
    COUNTRY DALE LOT 2 FOR ASSESSOR USE ONLY COUNTRY DALE LOT 2
    Tax Annual Amount
    2638

    We can help!

    Listing Contact
    Stephanie Parrish

    Listing agent Stephanie Parrish

    Listing office Call It Closed International Realty 4400 NE 77th Ave Suite 275, Vancouver, WA

    Listing date Jun 1, 2026

    MLS# 667800442 Listing URL

    Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 0.33‑acre level corner lot (14,164 sq. ft.) in an established Vancouver neighborhood
    • Demolition permit already secured; main home removed and existing garage structure remains
    • Zoned R1‑6 with potential for a duplex or possibly a fourplex/multi‑unit project under middle housing allowances
    • Utilities and infrastructure connections already at the street, supporting easier development planning
    • Convenient access to Padden Parkway and I‑205 for commuting
    • Just minutes from shopping, dining, parks, and schools

    Overview

    This offering presents a rare multi-family development opportunity on a spacious, level corner lot in an established Vancouver neighborhood. The main home has been removed, but the existing garage structure remains. The seller has already secured a demolition permit, which can help streamline redevelopment plans for a new build. The parcel totals 0.33 acres (14,164 square feet), offering room for flexible design options on a corner configuration.

    Zoned R1-6, the property is positioned to support a potential duplex or possibly a fourplex/multi-unit project, subject to applicable middle housing allowances. Utilities and other logistical advantages are described as already available at the street. The location also provides quick, direct access to Padden Parkway and I-205, with convenient proximity to local shopping, dining, parks, and schools.

    This is an investor, builder, or developer-ready site for those looking to control their next steps with demolition already permitted and an existing structure in place. With zoning and feasibility dependent on Clark County requirements, buyers should conduct their own due diligence, verify utilities, and confirm building requirements before proceeding. The property is sold as-is.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Vancouver
    County
    Clark
    State
    Washington
    Longitude
    -122.517086
    Latitude
    45.682105

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    FAQs

    What type of property is this?
    Residential land & home lot - Level corner parcel zoned R1-6 with a remaining garage and a secured demolition permit for new multi-family construction.
    Where is this residential land & home lot located?
    The property is located at 15102 NE 81ST Way Vancouver, WA.
    What is the asking price?
    The asking price for this property is $329,000.
    What are key features of this property?
    This property features: 0.33‑acre level corner lot (14,164 sq. ft.) in an established Vancouver neighborhood; Demolition permit already secured; main home removed and existing garage structure remains; Zoned R1‑6 with potential for a duplex or possibly a fourplex/multi‑unit project under middle housing allowances
    (360) 936-7942
    We can help!
    Listing Contact
    Stephanie Parrish
    Request Owner's contact information
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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.

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