Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    28312 N Newport Hwy Chattaroy, WA 99003
    Back to Search
    Property profile & analytics

    28312 N Newport Hwy Chattaroy, WA 99003

    View on Map
    • Grocery and convenience stores
    • 3,000 SF
    • 2.12 lot acres
    For Lease
    $700,000
    View Listing →
    Land For Lease For Lease
    $700,000

    Land For Lease

    Land available for lease.

    28312 N Newport Hwy, Chattaroy, WA 99003
    View Listing
    Property ID
    US90-3331697
    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
    $700,000
    Cap Rate Potential
    3.9%
    Grocery and convenience stores
    Location Intelligence

    Current Use by Public Records

    • Grocery and convenience stores

    Property Details for 28312 N Newport Hwy

    Year built
    1985
    Lot size
    2.12 lot acres
    Property size
    3,000 SF
    Property type
    Grocery and convenience stores
    APN
    38221.9031
    APU
    382219031

    Description

    This exceptional commercial land parcel, located at 28312 N Newport Hwy in Chattaroy, WA 99003, presents a unique investment opportunity. The property boasts a generous 25,000 square feet of usable land, ideal for a variety of commercial ventures. With a total lot size of 92,347 square feet, there is ample space for development and expansion. The property is designated for single-tenant occupancy, offering a streamlined approach to leasing and management. Situated in Chattaroy, Washington, this location offers convenient access to key transportation routes and amenities, making it an attractive proposition for businesses seeking a strategic foothold in the region. The property's size and location make it suitable for a wide range of commercial uses, from light industrial to retail, subject to local zoning regulations. This is a blank canvas for your next commercial project. The latitude and longitude coordinates are 47.9146969, -117.3484676, allowing for easy location verification and mapping. This is a rare opportunity to acquire a significant commercial land parcel in a desirable location. Serious inquiries are encouraged. The property is currently available for lease.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $800,000
      ML approach
      $825,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $515,000
      6.5%
      $475,000
      7%
      $440,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Chattaroy
    County
    Spokane
    State
    Washington
    Longitude
    -117.349
    Latitude
    47.9149
    CBSA code
    44060
    CBSA name
    SPOKANE-SPOKANE VALLEY, 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
    $5,602
    $69,260
    $651,600
    $720,860
    -
    $69,260
    $651,600
    $720,860

    Comparable in this City

    • Value Estimation
      $1,715,000
      9,952 SF

      34710 Newport Hwy

      GROCERY, SUPERMARKET • 9,952 SF
      34710 Newport Hwy, Chattaroy, WA 99003-9770
      View Details
    • Value Estimation by Request
      2,208 SF

      31422 Newport Hwy

      RETAIL STORES (PERSONAL SERVICES) • 2,208 SF
      31422 Newport Hwy, Chattaroy, WA 99003-9777
      View Details
    • Value Estimation by Request
      2,240 SF

      3916 Chattaroy Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,240 SF
      3916 Chattaroy Rd, Chattaroy, WA 99003-9679
      View Details
    • Value Estimation by Request
      6,400 SF

      4211 Westwood Ave

      Individual retail properties • 6,400 SF
      4211 Westwood Ave, Chattaroy, WA 99003
      View Details
    • Value Estimation
      $2,145,000
      10,640 SF

      34428 Newport Hwy

      RETAIL STORES (PERSONAL SERVICES) • 10,640 SF
      34428 Newport Hwy, Chattaroy, WA 99003-5198
      View Details
    • Value Estimation by Request
      900 SF

      34520 Milan Rd

      PARKING GARAGE, PARKING STRUCTURE • 900 SF
      34520 Milan Rd, Chattaroy, WA 99003-5142
      View Details

    Similar Nearby for Sale

    • $799,000
      6,400 SF

      6,400 SF Two-Tenant Building

      Two-tenant building with new leases and income in Chattaroy, WA.
      4211 East Westwood Ave, Chattaroy, WA 99003
      View Details
    • $139,900
      2.00 Acres

      Buildable Acres in Chattaroy, WA

      Two-acre parcel with shared open space in Chattaroy, WA.
      5123 E Chattaroy Rd, Chattaroy, WA 99003
      View Details
    • $90,000
      10.00 Acres

      Chattaroy Land Near Mt Spokane

      Ten-acre parcel near Mt. Spokane State Park.
      17616 E Tallman Rd, Chattaroy, WA 99003
      View Details
    • $284,900
      9.97 Acres

      Chattaroy Land with Insulated Shop

      9.97 acre land with shop near Spokane.
      11707 E Tallman Rd, Chattaroy, WA 99003
      View Details
    • $250,000
      541,015 SF

      Serene Treed Acres in Chattaroy

      12.42 acres of wooded land for custom home.
      6-xxx East Elk Chattaroy Rd, Chattaroy, WA 99003
      View Details
    • Contact for pricing
      4,320 SF

      Warehouse and Mini Storage Facility

      Warehouse and mini storage facility with highway access and visibility.
      35007 N Newport Hwy, Chattaroy, WA 99003
      View Details

    Similar Nearby for Lease

    • $2,500 /Mo

      Land Suitable for Restaurant

      25,000 SF land for restaurant or coffee drive-thru.
      28312 N Newport Hwy, Chattaroy, WA 99003
      View Details
    • Contact for pricing

      Land For Lease

      Land available for lease.
      28312 N Newport Hwy, Chattaroy, WA 99003
      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.
    28312 N Newport Hwy
    Chattaroy, WA 99003
    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
    28312 N Newport Hwy, Chattaroy, WA, 99003
    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!