Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Sultan Development Opportunity Title is generated by Realmo AI

    202 Old Owen Rd, Sultan, WA 98294

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,999,000

    3.43-acre commercial land in Sultan, WA, for sale.

    Property size:
    149,411 SF
    Lot size:
    3.43 Acres
    Price / SF:
    $13/SF
    Added:
    Mar 6, 2026
    Days on Market:
    67
    Last Refresh:
    Mar 16 at 10:59 am

    Property Features for 202 Old Owen Rd

    General Information

    Standard status
    Active
    Size
    149,411 SF
    Lot size
    3.43 Acres

    Building Details

    Year Built
    1957

    We can help!

    Listing Contact
    DOMINIQUE RUYBAL
    DOMINIQUE RUYBAL

    Listing agent DOMINIQUE RUYBAL

    Listing office WINDERMERE REAL ESTATE - MILL CREEK, INC.

    Listing date Mar 6, 2026

    Source Corcoran

    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 WINDERMERE REAL ESTATE - MILL CREEK, INC.

    HighLights

    • 3.43‑acre development opportunity, approximately 149,354 SF.
    • Zoned Highway Oriented Commercial, ideal for residential and commercial projects.
    • Permitted residential uses include townhomes, apartments, and live/work units.
    • Commercial allowances include retail, restaurants, office, automotive services, and medical clinics.
    • High lot coverage of up to 85%.
    • Located within the City of Sultan.

    Overview

    This is a 3.43-acre (approximately 149,354 SF) development opportunity located within the City of Sultan. The property is zoned Highway Oriented Commercial, offering flexibility for residential and commercial projects. Permitted residential uses include townhomes, apartments, live/work units, and other attached housing. Commercial allowances include retail and wholesale, restaurants, office, government facilities, automotive services, recreation, medical or veterinary clinics/hospitals, and more. Conditional uses include manufacturing and private schools. The property has a high lot coverage allowance of up to 85%, enhancing design efficiency and development potential, making it suitable for investors and developers seeking a versatile site with zoning flexibility in a growing area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Sultan
    County
    Snohomish
    State
    Washington
    Longitude
    -121.82958
    Latitude
    47.860513

    Nearby Similar for Sale

    • $1,350,000
      4,662 SF

      Sultan Commercial Property with Apartments

      Versatile commercial property with shop space and residential units.
      609 Main Street, Sultan, WA 98294
      View Details
    • $1,350,000
      4,662 SF

      Versatile Commercial Property with Apartments

      Commercial property with shop space and residential income potential.
      609 Main St, Sultan, WA 98294
      View Details
    • $899,000

      Land

      32531 138th St SE Sultan, WA 98294
      View Details
    • $1,000,000

      0.88 Acres Usable Land

      0.88 acres of usable, fenced, and secure land.
      32623 149th St SE, Sultan, WA
      View Details
    • $1,000,000
      38,333 SF

      Sultan Land Parcel For Sale

      Commercial land parcel with secure, flat, gravel-covered yard.
      32623 149th St SE, Sultan, WA 98294
      View Details
    • $900,000

      Licensed Cannabis Growing and Extraction

      Licensed cannabis business with data center on 3 acres.
      14128 339th Ave SE, Sultan, WA 98294
      View Details
    • $875,000
      2,000 SF

      Versatile Commercial Property with Office

      Office, shop, and fenced yard with development potential.
      411 Highbank Road, Sultan, WA 98294
      View Details
    • $3,200,000
      12,708 SF

      Sultan Motel and Residential Income

      2.39 acre lot with motel, homes, and redevelopment potential.
      101 Dutch Cup Ln, Sultan, WA
      View Details
    • $899,000
      103,673 SF

      Sultan Land with Development Potential

      Large lot in Sultan, WA, with existing house and development potential.
      32531 138th St SE, Sultan, WA 98294
      View Details
    • Contact for pricing

      Sultan, WA Investment Opportunity

      Residential income property for sale in Sultan, Washington.
      36010 State Route 2, Sultan, WA 98294
      View Details
    • $540,000
      2,087 SF

      Retail Building on 0.41 Acres

      2,087 SF retail building with highway frontage for sale.
      36916 SR 2, Sultan, WA
      View Details
    • $344,000

      Secluded 39 Acres in Sultan

      Quiet, private 39-acre land with Cascade views near Sultan.
      0 132nd Street SE, Sultan, WA 98294
      View Details

    FAQs

    What type of property is this?
    Commercial land - 3.43-acre commercial land in Sultan, WA, for sale.
    Where is this commercial land located?
    The property is located at 202 Old Owen Rd Sultan, WA.
    What is the asking price?
    The asking price for this property is $1,999,000.
    What are key features of this property?
    This property features: 3.43‑acre development opportunity, approximately 149,354 SF.; Zoned Highway Oriented Commercial, ideal for residential and commercial projects.; Permitted residential uses include townhomes, apartments, and live/work units.
    (425) 481-6666
    We can help!
    Listing Contact
    DOMINIQUE RUYBAL
    DOMINIQUE RUYBAL
    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
    202 Old Owen Rd, Sultan, WA 98294
    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!