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    2118 NW Vw Rdg Dr Waldport, OR 97394
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    2118 NW Vw Rdg Dr Waldport, OR 97394

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    • Commercial real estate
    • 0.13 lot acres
    For Sale
    $77,900
    View Listing →
    Cleared Lot Near Ocean Views For Sale
    $77,900
    0.13 Acres

    Cleared Lot Near Ocean Views

    Cleared lot with potential ocean views and community amenities.

    2118 NW View Ridge Drive, Waldport, OR 97394
    View Listing
    Property ID
    US71-0409845
    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

    • Commercial real estate

    Property Details for 2118 NW Vw Rdg Dr

    Lot size
    0.13 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 0.13-acre residential lot in Waldport, Oregon, presents a unique opportunity to build your dream home. Located at 2118 NW View Ridge Dr, in Lincoln County, zip code 97394, this property boasts stunning ocean views and is zoned R-1 Residential, Single Family. The lot is part of a community offering desirable amenities including a swimming pool, tennis court, and playground, all for a low annual HOA fee of $250. Enjoy the tranquility of this secluded location while remaining conveniently close to Waldport's charming town center, offering various dining, shopping, and recreational opportunities. The property is situated outside the Tsunami Zone. The asking price for this exceptional coastal property is $85,000. This is an exclusive right to sell opportunity. The land is available immediately

    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
    Waldport
    County
    Lincoln
    State
    Oregon
    Longitude
    -124.074033
    Latitude
    44.442151

    Comparable in this City

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      Versatile 1930s Mixed-Use Gem

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    • $895,000
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      Mixed-Use Property with Expansion Potential

      Versatile property featuring residential and commercial units with expansion potential.
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    • $895,000
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      Mixed-Use Property With Expansion Potential

      Versatile property with residential, commercial units, and expansion potential.
      220 NW Spring St, Waldport, OR 97394
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    • $74,000
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      Land in Gated Community

      Land in 55+ community with beach access and city services.
      TL-700 SW Sailfish Loop, Waldport, OR 97394
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    • $190,000
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      Bay View Homesite in Waldport

      Bay view lot for custom home near Waldport and Newport.
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    • $299,000
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      Bayfront Lot with Ocean Views

      Bayfront-like lot with bay, bridge, and ocean views.
      1000 NW Highland Dr, Waldport, OR 97394
      View Details

    Similar Nearby for Sale

    • $895,000
      3,116 SF

      Mixed-Use Property With Expansion Potential

      Versatile property with residential, commercial units, and expansion potential.
      220 NW Spring St, Waldport, OR 97394
      View Details
    • $749,000
      2,513 SF

      Versatile 1930s Mixed-Use Gem

      Historic 2-story building in Waldport with commercial and residential potential.
      260 W Willow St, Waldport, OR 97394
      View Details
    • $895,000
      3,116 SF

      Mixed-Use Property with Expansion Potential

      Versatile property featuring residential and commercial units with expansion potential.
      220 NW Spring St, Waldport, OR 97394
      View Details
    • $74,000
      0.15 Acres

      Land in Gated Community

      Land in 55+ community with beach access and city services.
      TL-700 SW Sailfish Loop, Waldport, OR 97394
      View Details
    • $145,000
      0.16 Acres

      Ocean View Homesite in Bayshore

      Homesite with ocean views, community amenities, and beach access.
      Tl-1800 NW Bayshore Dr, Waldport, OR 97394
      View Details
    • $898,700
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      Ocean View Residential Land

      7.75 acres in Waldport with development approval.
      1200 SW Norwood Dr, Waldport, OR 97394
      View Details
    View Listing
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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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