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    Waterfront Development Land Title is generated by Realmo AI

    552 Point Brown Avenue Northeast, Ocean Shores, WA 98569

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    For Sale
    $127,000

    Waterfront land with canal views and B-1 zoning for a range of commercial and residential uses.

    Type:Land
    Added:
    Jun 2, 2026
    Days on Market:
    5
    Last Refresh:
    Jun 6 at 2:44 am

    Property Features for 552 Point Brown Avenue Northeast

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Donna Jones

    Listing agent Donna Jones License #93053

    Listing office John L. Scott Ocean Shores

    Listing date Jun 2, 2026

    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 John L. Scott Ocean Shores

    HighLights

    • Waterfront land with canal front and canal views
    • B‑1 commercial zoning allowing a range of commercial and residential uses
    • Permitted use examples include restaurants and cafes
    • Nightly rentals such as Airbnb are supported by B‑1 zoning
    • Other zoning‑supported uses mentioned include child‑care centers and specialty retail shops
    • Road surface is paved

    Overview

    This highly visible waterfront land offering includes waterfront, canal-view setting that supports development for a range of concepts under B-1 Commercial zoning. The property is described as suitable for restaurants and cafes, nightly rentals such as Airbnb, child-care centers, specialty retail shops, and single-family or multi-family residential development.

    Located on the outskirts of town at 552 Point Brown Avenue Northeast in Ocean Shores, WA 98569, the site is positioned to benefit from the area’s visitor draw, noted in the remarks as well over 3,000,000 visitors per year. The waterfront setting includes canal views, with local character referenced as golf carts and wildlife crossing a wooden bridge over the canal.

    For operators and developers, the combination of waterfront positioning and broad B-1 Commercial zoning may fit a variety of plans, including hospitality-oriented nightly rentals, local service uses like child-care, and neighborhood retail or food concepts. Residential development options are also contemplated under the zoning framework described in the remarks, including both single-family residences and multi-family projects.
    Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Auto Repair Shop Hair Salon Gym & Fitness Center Kitchen & Bath Showroom Storage Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Ocean Shores
    County
    Grays Harbor
    State
    Washington
    Longitude
    -124.15531
    Latitude
    46.968666

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    FAQs

    What type of property is this?
    Waterfront Land - Waterfront land with canal views and B-1 zoning for a range of commercial and residential uses.
    Where is this waterfront land located?
    The property is located at 552 Point Brown Avenue Northeast Ocean Shores, WA.
    What is the asking price?
    The asking price for this property is $127,000.
    What are key features of this property?
    This property features: Waterfront land with canal front and canal views; B‑1 commercial zoning allowing a range of commercial and residential uses; Permitted use examples include restaurants and cafes
    (360) 289-1000
    We can help!
    Listing Contact
    Donna Jones
    Real Estate License ID: 93053
    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.

    More about this property
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    552 Point Brown Avenue Northeast, Ocean Shores, WA 98569
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