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    20692 Road A Soap Lake, WA 98851

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    For Sale
    $1,100,000

    48+ irrigated acres with home, shop, and irrigation equipment.

    Property size:
    1,120 SF
    Price / SF:
    $982/SF
    Added:
    Aug 5, 2025
    Days on Market:
    271
    Last Refresh:
    Mar 16 at 9:09 am

    Property Features for 20692 Road A

    General Information

    Standard status
    Active
    Size
    1,120 SF

    Building Details

    Year Built
    2017

    We can help!

    Listing Contact
    KIM RANDOLPH MEANEY

    Listing agent KIM RANDOLPH MEANEY

    Listing office KELLER WILLIAMS COLUMBIA BASIN

    Listing date Aug 5, 2025

    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 KELLER WILLIAMS COLUMBIA BASIN

    Overview

    Irrigated Acres with Home and Shop

    This property features over 48 irrigated acres near Soap Lake, Washington. The land includes a well-constructed, two-bedroom, two-bath home built with SIP engineered panels, an 8-inch poured concrete slab with rebar, insulation, radiant heat, mini splits, a metal roof, red fir and tile flooring, and a large covered porch. A 2388-square-foot shop is also present, equipped with radiant heat flooring, a mini split, a metal roof, and efficient solar panels. Irrigation equipment includes pumps, hand lines, and two center-pivot irrigators on sandy loam soil. The farm has been planted in orchard grass, producing between 6 and 7 tons per acre per year. Additional features include a small cattle pen, chicken coop, and other livestock areas.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Suggested Use

    Real Estate Agency Restaurant Law Firm Auto Repair Shop Hair Salon Spa & Massage Center Gym & Fitness Center Nail Salon Skin Care Clinic Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Soap Lake
    County
    Grant
    State
    Washington
    Longitude
    -119.47
    Latitude
    47.3943

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    FAQs

    What type of property is this?
    Farm - 48+ irrigated acres with home, shop, and irrigation equipment.
    Where is this farm located?
    The property is located at 20692 Road A Soap Lake, WA.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: 48+ Irrigated Acres with Two Center‑Pivot Irrigators and Sandy Loam Soil ideal for farming.; High‑Quality, Energy‑Efficient Home: Built with SIP panels, radiant heat, mini‑splits, and metal roof.; Large 2388 sq ft Shop with radiant heat, mini‑split, and efficient solar panels.
    We can help!
    Listing Contact
    KIM RANDOLPH MEANEY
    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.

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    20692 Road A, Soap Lake, WA 98851

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