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    Recreation Land Development Parcel Title is generated by Realmo AI

    W OREGON Rd, Deer Park, WA 99006

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    Claim this Listing
    For Sale
    $849,000

    LAND - DEER PARK, WA

    Lot size:
    161.31 Acres
    Added:
    Mar 16, 2026
    Days on Market:
    81
    Last Refresh:
    Jun 4 at 2:06 pm

    Property Features for W OREGON Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Forestry,R10
    Standard status
    Active
    APN
    39072.9002
    Lot size
    161.31 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    07 29 43 NW1/4

    We can help!

    Listing Contact
    BOB ANDERSON

    Listing agent BOB ANDERSON License #18982

    Listing office RE/MAX SELECT ASSOCIATES 327 S MAIN, WA

    Listing date Mar 16, 2026

    MLS# 44600 Listing URL

    Copyright © 2026 Northeast Washington Association of Realtor MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 161‑acre parcel near Eloika Lake, with Loon, Deer, and Waitts Lake very close for year‑round recreation.
    • Located an easy drive north of Spokane off Highway 2, with access from W Oregon Rd.
    • Legal access is from the north.
    • Access road to the property is blocked by a large log—plan to walk the property.
    • Buyer access guidance: bring a good map or use the onX Hunt app.

    Overview

    This 161.31-acre parcel in Deer Park, WA is listed as Forestry/R10 and is presented as recreation land with year-round lake access nearby. The property is wooded and offered in a natural condition for buyers who want to explore the site directly and plan development or long-term ownership on their own terms. Public remarks indicate the access road onto the property is currently blocked by a large log, so an on-foot visit is planned for viewing.

    The parcel is described as being located near Eloika Lake, with Loon Lake and Waitts Lake also very close for year-round recreation. The location is noted as an easy drive north of Spokane off Highway 2, with easy access from W Oregon Rd. Legal access is stated to be from the north, and prospective visitors are advised to bring a good map or use an onX Hunt app.

    For tenants, this offering is not presented as a leasable space; it is a land opportunity for buyers seeking a forestry-designated parcel near multiple lakes. It may appeal to buyers interested in development planning or creating a family legacy, with the practical consideration that access for site review is currently limited by the blocked access road.
    Property Profile Location Intelligence

    Current Use by Public Records

    Recreation land

    Map

    City
    Deer Park
    County
    Spokane
    State
    Washington
    Longitude
    -117.416557
    Latitude
    48.031817

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    FAQs

    What type of property is this?
    Recreation land - Forestry-zoned land near Eloika Lake, suited for buyers looking for recreation and potential development flexibility.
    Where is this recreation land located?
    The property is located at W OREGON Rd Deer Park, WA.
    What is the asking price?
    The asking price for this property is $849,000.
    What are key features of this property?
    This property features: 161‑acre parcel near Eloika Lake, with Loon, Deer, and Waitts Lake very close for year‑round recreation.; Located an easy drive north of Spokane off Highway 2, with access from W Oregon Rd.; Legal access is from the north.
    (509) 684-1000
    We can help!
    Listing Contact
    BOB ANDERSON
    Real Estate License ID: 18982
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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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    W OREGON Rd, DEER PARK, WA 99006
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