Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    10801 NE Covington Rd Vancouver, WA 98662
    Back to Search
    Property profile & analytics

    10801 NE Covington Rd Vancouver, WA 98662

    View on Map
    • Land
    For Sale
    $1,050,000
    View Listing →
    Multifamily Land in Clark County For Sale
    $1,050,000
    2.10 Acres

    Multifamily Land in Clark County

    2.1 acres with R-18 zoning, multifamily development potential.

    10801 NE Covington Rd, Vancouver, WA 98662
    View Listing
    Property ID
    US90-1574651
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 10801 NE Covington Rd

    Property type
    Land

    Description

    - 2.1 Acres in Clark County - Multifamily R-18 Zoning - 25 to 37 units possible - Apx. 700 Ft. frontage on Covington - Utilities to site (SW Corner) - Close to schools, businesses, buses

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Vancouver
    County
    Clark
    State
    Washington
    Longitude
    -122.5631769
    Latitude
    45.6672514

    Comparable in this City

    • Contact for pricing

      Commercial Lots Near Winco Foods

      Level commercial lots with utilities near Bowyers Shopping Center.
      11208 NE 119Th St, Vancouver, WA 98662
      View Details
    • $2,000,000
      5.75 Acres

      Vancouver Land with Flexible Zoning

      5.75 acres with R1-6/Light Industrial zoning in Vancouver, WA.
      7803 NE 99Th St, Vancouver, WA 98662
      View Details
    • $799,000
      2,834 SF

      Vancouver Duplex: Investor Opportunity

      Tenant-occupied duplex with modern features in Vancouver, WA.
      6011 NE 105Th Ave, Vancouver, WA 98662
      View Details
    • $3,749,900
      12,000 SF

      Vancouver Multifamily Investment Opportunity

      Fully renovated, 16-unit multifamily property with stabilized income.
      10701 NE 59Th St, Vancouver, WA 98662
      View Details
    • $10,650,000
      65,000 SF

      Vancouver Investment Opportunity Near Mall

      Fully leased commercial property near I-205 and Vancouver Mall.
      9300 Van Mall Dr, Vancouver, WA 98662
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Commercial Lots Near Winco Foods

      Level commercial lots with utilities near Bowyers Shopping Center.
      11208 NE 119Th St, Vancouver, WA 98662
      View Details
    • $2,000,000
      5.75 Acres

      Vancouver Land with Flexible Zoning

      5.75 acres with R1-6/Light Industrial zoning in Vancouver, WA.
      7803 NE 99Th St, Vancouver, WA 98662
      View Details
    • $799,000
      2,834 SF

      Vancouver Duplex: Investor Opportunity

      Tenant-occupied duplex with modern features in Vancouver, WA.
      6011 NE 105Th Ave, Vancouver, WA 98662
      View Details
    • $3,749,900
      12,000 SF

      Vancouver Multifamily Investment Opportunity

      Fully renovated, 16-unit multifamily property with stabilized income.
      10701 NE 59Th St, Vancouver, WA 98662
      View Details
    • $24,107,000
      151,407 SF

      Vancouver Suburban Office Buildings For Sale

      Two premier office buildings in Vancouver Mall submarket.
      7500-7600 NE 41St St, Vancouver, WA 98662
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      338,719 SF

      Vancouver Logistics Phase II

      Class-A Industrial Space Available
      7704 72Nd Ave, Vancouver, WA 98662
      View Details
    • Contact for pricing

      Vancouver Retail Center For Rent

      Retail and office spaces available in a bustling Vancouver location.
      5500/5501 NE 109Th Ct, Vancouver, WA 98662
      View Details
    • Contact for pricing
      11,184 SF

      Vancouver Office Space Available

      Office building with 11,184 square feet available for rent.
      4601 NE 77Th Ave, Vancouver, WA 98662
      View Details
    • $25 SF/Yr
      95,873 SF

      The 4400 Bldg: Premier Office Space

      Class A Office, Multiple Suites Available
      4400 77Th Ave, Vancouver, WA 98662
      View Details
    • Contact for pricing

      Commercial Space for Lease

      Commercial space available for lease in Vancouver, Washington.
      11413 NE 126Th St, Vancouver, WA 98662
      View Details
    • Contact for pricing

      ELW Building

      Discover many ways to work your way in ELW Building
      4400 77Th Ave, Vancouver, WA 98662
      View Details
    View Listing
    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.
    10801 NE Covington Rd
    Vancouver, WA 98662
    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
    10801 NE Covington Rd, Vancouver, WA, 98662
    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!