Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Expansive Land Parcel Near Filucy Title is generated by Realmo AI

    5118 Key Peninsula Highway SW, Longbranch, WA 98351

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $429,000

    20.73-acre parcel near Filucy Bay with forested and cleared areas.

    Lot size:
    20.73 Acres
    Added:
    Mar 12, 2026
    Days on Market:
    71
    Last Refresh:
    Mar 16 at 11:16 am

    Property Features for 5118 Key Peninsula Highway SW

    General Information

    Standard status
    Active
    Lot size
    20.73 Acres

    We can help!

    Listing Contact
    ALAN JOHNSON

    Listing agent ALAN JOHNSON

    Listing office REDFIN

    Listing date Mar 12, 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 REDFIN

    HighLights

    • Large 20.73‑acre parcel offers ample space and potential.
    • Located in the desirable Longbranch area, near Filucy Bay.
    • Combination of heavily forested and partially cleared areas provides natural beauty and building flexibility.
    • Towering evergreens offer privacy and a sense of seclusion.
    • Cleared portions ideal for building sites or recreational spaces.
    • Conveniently located near water, recreation, and the Longbranch community.

    Overview

    This 20.73-acre parcel is located in the Longbranch area, a short distance from Filucy Bay. The property features a combination of heavily forested landscape and partially cleared areas. Towering evergreens offer privacy and shade. The cleared portions of the land allow for building sites or recreational spaces. The location provides seclusion while remaining close to the water. This property is suitable as a quiet getaway or a place to explore the outdoors. The land offers space, natural beauty, and opportunity to shape it over time. The location provides access to the recreation of Filucy Bay and the surrounding Longbranch community.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Law Firm Building Supply Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Storage Facility Garden Center Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    Longbranch
    County
    Pierce
    State
    Washington
    Longitude
    -122.7582117
    Latitude
    47.2100027

    Nearby Similar for Sale

    • $178,000

      Longbranch Land with Development Potential

      5.14-acre Longbranch land parcel with development potential.
      7515 Whiteman Road SW #Lot3, Longbranch, WA 98351
      View Details
    • $113,400

      Waterfront Land in Longbranch

      1.32 acres of waterfront land with Filucy Bay views.
      4101 161st Avenue SW, Longbranch, WA 98351
      View Details
    • $179,000

      Waterfront Lot with Puget Sound Views

      Highbank waterfront lot with mature trees and southern exposure.
      7118 190th Avenue SW, Longbranch, WA 98351
      View Details
    • $29,900

      Waterfront Recreational Lot on Whiteman's

      0.25-acre waterfront recreational lot on Whiteman’s Cove Lagoon.
      19401 Whiteman Cove Road SW #20, Longbranch, WA 98351
      View Details
    • $250,000

      Longbranch Land Opportunity

      Two adjacent parcels totaling 14 acres in Longbranch, WA.
      18771 & 19789 Erickson Road SW, Longbranch, WA 98351
      View Details
    • $180,000

      Idyllic Land Parcel For Sale

      5.14 acre land parcel in an idyllic location.
      7515 Whiteman Road SW, Longbranch, WA 98351
      View Details
    • $265,000

      Nearly 10-Acre Lot

      10-acre lot with mature timber and level terrain.
      1111 xxxx Whiteman Road, Longbranch, WA 98351
      View Details

    FAQs

    What type of property is this?
    Land - 20.73-acre parcel near Filucy Bay with forested and cleared areas.
    Where is this land located?
    The property is located at 5118 Key Peninsula Highway SW Longbranch, WA.
    What is the asking price?
    The asking price for this property is $429,000.
    What are key features of this property?
    This property features: Large 20.73‑acre parcel offers ample space and potential.; Located in the desirable Longbranch area, near Filucy Bay.; Combination of heavily forested and partially cleared areas provides natural beauty and building flexibility.
    (253) 201-3130
    We can help!
    Listing Contact
    ALAN JOHNSON
    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
    5118 Key Peninsula Highway SW, Longbranch, WA 98351
    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!