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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1328 Woodin Ave Chelan, WA 98816-9303

    • Grocery and convenience stores
    • 780 SF
    • 1.21 lot acres
    OFF-MARKET
    Last Sale
    Mar 24, 2025
    $2,000,000
    Value Estimations
    $2,000,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1902022
    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.

    Current Use by Public Records

    • Grocery and convenience stores

    Property Details for 1328 Woodin Ave

    Year built
    1973
    Lot size
    1.21 lot acres
    Property size
    780 SF
    Property type
    Grocery and convenience stores
    APN
    272214494210
    APU
    272214494210

    Description

    This exceptional 1.21-acre commercial waterfront property in Chelan, Washington, presents a unique investment opportunity. Boasting approximately 185 feet of prime Lake Chelan frontage, this site is ideally situated in the heart of the area's recreational hub, adjacent to a marina with 168 deep-water mooring slips ranging from 24 to 40 feet. The property's Commercial Waterfront zoning allows for a wide range of development possibilities, including multi-family residential with short-term rental potential, townhouses, hotels, and restaurants. Its strategic location offers unparalleled convenience, with proximity to the Lady of the Lake Chelan-Stehekin Ferry Terminal, providing easy boat access and public pier parking. Furthermore, this desirable location is within walking distance of downtown Chelan, public parks, Slidewaters water park, and local wineries. This is a rare chance to acquire the only available high-density development site directly on the shores of Lake Chelan, offering significant potential for substantial returns. The property is located at 1328 W Woodin Ave, Chelan, WA 98816, in Chelan County. The asking price is $2,300,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,940,000
      ML approach
      $2,065,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Chelan
    County
    Chelan
    State
    Washington
    Longitude
    -120.037
    Latitude
    47.8366
    CBSA code
    48300
    CBSA name
    WENATCHEE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $13,325
    $1,850,000
    $0.00
    $1,850,000
    -
    $1,850,000
    $0.00
    $1,850,000

    Comparable in this City

    • Value Estimation
      $1,330,000
      15,000 SF

      234 Johnson Ave

      GROCERY, SUPERMARKET • 15,000 SF
      234 Johnson Ave, Chelan, WA 98816
      View Details
    • Value Estimation by Request
      3,835 SF

      53 Lakeshore Rd

      GROCERY, SUPERMARKET • 3,835 SF
      53 Lakeshore Rd, Chelan, WA 98816-8728
      View Details
    • Value Estimation
      $1,890,000
      14,602 SF

      310 Manson Hwy

      GROCERY, SUPERMARKET • 14,602 SF
      310 Manson Hwy, Chelan, WA 98816
      View Details
    • Value Estimation by Request
      0.07 Acres

      Chelan, WA 98816

      GROCERY, SUPERMARKET • 0.07 Acres
      Chelan, WA 98816
      View Details
    • Value Estimation by Request
      1,843 SF

      216 Manson Hwy

      GROCERY, SUPERMARKET • 1,843 SF
      216 Manson Hwy, Chelan, WA 98816-8687
      View Details
    • Value Estimation
      $2,600,000
      29,707 SF

      106 Manson Hwy

      GROCERY, SUPERMARKET • 29,707 SF
      106 Manson Hwy, Chelan, WA 98816-8651
      View Details

    Similar Nearby for Sale

    • $4,200,000
      8,201 SF

      Chelan Retail Investment Opportunity

      Fully leased, remodeled retail building with strong income and modern design.
      2037 W Woodin Ave, Chelan, WA 98816
      View Details
    • $595,000
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    • $265,000

      120 Acres Near Lake Chelan

      120 acres near Lake Chelan with development potential.
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    • $325,000

      Granite Creek Land with Views

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    • $275,000

      Downtown Chelan Business Opportunity

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    Similar Nearby for Lease

    • $1,000 /Mo
      665 SF

      Chelan Office Space For Rent

      Commercial space in Chelan, suitable for various business uses.
      514 E Woodin Ave, Chelan, WA 98816
      View Details
    • $850 /Mo
      250 SF

      Flexible Office Space in Chelan

      Premier business center with customizable office solutions and lake views.
      503 E Highland Ave, Chelan, WA 98816
      View Details
    Request Owner's contact information
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    1328 Woodin Ave
    Chelan, WA 98816-9303
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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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