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    5407 Chase Rd Newman Lake, WA 99025

    For Sale
    $579,900

    Almost 5 acres, home, shop, RV pad. Perfect investment!

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    Exceptional investment opportunity awaits in Newman Lake, Washington! This nearly 5-acre property, located at 5407 N Chase Rd, 99025, in the desirable Otis Orchards area, presents a multitude of possibilities. The property includes a comfortable 2-bedroom, 2-bathroom home, providing immediate income potential through rental. A substantial 60x32 steel-framed shop, complete with new 12x10 garage doors, offers ample workshop space or storage. Further enhancing its versatility, the property boasts an RV pad with independent utilities, a separate barn, carport, and additional storage sheds. The property is partially fenced (three sides), making it ideal for larger animals or horses. The land itself presents significant development potential, allowing for expansion or the construction of additional structures. This unique combination of existing structures and expansive land provides a rare opportunity for both immediate income generation and long-term appreciation. Don't miss this chance to acquire a truly exceptional property in a highly sought-after location. Lease on the existing home expires November 30, 2023. The asking price is $579,900.

    Property Features for 5407 Chase Rd

    General Information

    Property type
    Land

    HighLights

    • $579,900 asking price for almost 5 acres of land in Otis Orchards, WA.
    • Residential land zoned property.
    • Features a 2 bed/2 bath home, 60x32 steel shop with new garage doors, RV pad with utilities, barn, carport, and storage sheds.
    • Large animals and horses welcome; fenced on 3 sides.
    • Excellent investment opportunity; potential for rental income and/or new construction.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Gym & Fitness Pharmacy Auto Parts Store Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Newman Lake
    County
    Spokane
    State
    Washington
    Longitude
    -117.05287414833
    Latitude
    47.706042256306

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    FAQs

    What type of property is this?
    Land - Almost 5 acres, home, shop, RV pad. Perfect investment!
    Where is this land located?
    The property is located at 5407 Chase Rd Newman Lake, WA.
    What is the asking price?
    The asking price for this property is $579,900.
    What are key features of this property?
    This property features: $579,900 asking price for almost 5 acres of land in Otis Orchards, WA.; Residential land zoned property.; Features a 2 bed/2 bath home, 60x32 steel shop with new garage doors, RV pad with utilities, barn, carport, and storage sheds.
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    Newman Lake, WA 99025
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    Realmo Value Estimation

    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.

    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.

    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
    5407 Chase Rd Newman Lake, WA 99025
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