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Property profile & analytics
OFF-MARKET
Land

22111 Elk Chattaroy Rd Colbert, WA 99005

Entity Owned 4-yr Hold
Property ID
US90-2362769
Property summary
AI-generated overview

This exceptional 1.2-acre commercial land parcel, located at 22111 N Elk Chattaroy Rd, Colbert, WA 99005 (APN 37101.9083), presents a unique investment opportunity. Currently zoned LDAC (Limited Development Area Commercial), this property enjoys a highly desirable location along Highway 2, boasting the distinction of being the only commercially zoned land within an 8-mile radius between Colbert and Chattaroy. The asking price is $1,400,000. This strategic positioning offers unparalleled visibility and accessibility for a wide range of commercial ventures. The property's potential is further enhanced by pre-approved development plans for luxury garage condos. Phase 1 permits are already secured and paid for, allowing for immediate commencement of construction should the buyer choose this route. This turnkey opportunity combines the benefits of a prime location with the convenience of readily available development plans, making it an ideal investment for both seasoned developers and astute entrepreneurs seeking a high-return venture in a rapidly growing area. The property's latitude and longitude coordinates are 47.8585867761721 and -117.3550841083285 respectively. This is a rare chance to acquire a strategically located commercial property with significant development potential in Spokane County, Washington.

Property profile
Verified
Property type Land
UPID US90-2362769
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
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by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
Sunset Storage Condos LLC · 4 yrs held
Sunset Storage Condos LLC
since 2021
1 recorded transaction
2021
$550,000
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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