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    6142 Highway 291 Nine Mile Falls, WA 99026
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    Property profile & analytics

    6142 Highway 291 Nine Mile Falls, WA 99026

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    • Commercial real estate
    • 6.69 lot acres
    Off-Market
    Property ID
    US90-2774147
    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 6142 Highway 291

    Lot size
    6.69 lot acres
    Property type
    Commercial real estate
    APN
    5119495

    Description

    This exceptional 6.69-acre parcel in Nine Mile Falls, Washington, presents a unique investment opportunity. Located at 6142 Highway 291, this flat, undeveloped land boasts a prime location along a major arterial road, offering excellent visibility and accessibility. The property is zoned R-2 Residential, allowing for versatile development options, including commercial ventures or high-density residential subdivisions. Utilities, including power and water, are conveniently located on-site. The asking price is $699,000, translating to a land value of $2.40 per square foot. The property's APN is 5119495. Its strategic position places it directly in the path of progress, with a planned roundabout at a busy intersection anticipated by the Washington State Department of Transportation by 2025 (estimated). This development potential is further enhanced by the possibility of subdividing the land into lots as small as 0.5 acres, maximizing return on investment. This property offers a rare combination of location, zoning flexibility, and infrastructure readiness, making it an ideal choice for developers seeking a high-return project in a thriving market. The Stevens County location and 99026 zip code add to its appeal.

    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
    Nine Mile Falls
    County
    Stevens
    State
    Washington
    Longitude
    -117.5962758
    Latitude
    47.8289133

    Comparable in this City

    • Contact for pricing

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      Nine Mile Falls Land Parcel

      Five-acre parcel with utilities and workshop in Nine Mile Falls.
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      Nine Mile Falls Wooded Acreage

      6.73 acres of wooded land near amenities.
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    • $279,500

      Land For Sale

      Land available for purchase in Nine Mile Falls, Washington.
      18324 W Burnett Rd, Nine Mile Falls, WA 99026
      View Details
    • $249,950
      19.70 Acres

      Treed Land Ready to Build

      19.70 acre lot with well and power in Nine Mile Falls.
      18324 W Burnett Rd, Nine Mile Falls, WA 99026
      View Details
    • $265,000
      25.00 Acres

      Nine Mile Falls Land Parcel

      25-acre land parcel with utilities in Nine Mile Falls.
      228xx W Four Mound Rd, Nine Mile Falls, WA 99026
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Spokane River View Land

      113 acres with river views in Nine Mile Falls.
      W Highland Rd, Nine Mile Falls, WA 99026
      View Details
    • $220,000
      5.00 Acres

      Nine Mile Falls Land Parcel

      Five-acre parcel with utilities and workshop in Nine Mile Falls.
      12812 N Dover Rd, Nine Mile Falls, WA 99026
      View Details
    • $279,500

      Land For Sale

      Land available for purchase in Nine Mile Falls, Washington.
      18324 W Burnett Rd, Nine Mile Falls, WA 99026
      View Details
    • $249,950
      19.70 Acres

      Treed Land Ready to Build

      19.70 acre lot with well and power in Nine Mile Falls.
      18324 W Burnett Rd, Nine Mile Falls, WA 99026
      View Details
    • $265,000
      25.00 Acres

      Nine Mile Falls Land Parcel

      25-acre land parcel with utilities in Nine Mile Falls.
      228xx W Four Mound Rd, Nine Mile Falls, WA 99026
      View Details
    • $699,900
      6.69 Acres

      6.69 Acres in Nine Mile Falls

      6.69 acres zoned R2 in Nine Mile Falls, WA.
      Wa-291, Nine Mile Falls, WA 99026
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      86,248 SF

      Land Parcel in Nine Mile Falls

      Land available for lease in Nine Mile Falls, Washington.
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    • Contact for pricing

      Highway Frontage Commercial Land

      Commercial land for rent with highway frontage.
      59XX Highway 291, Nine Mile Falls, WA 99026
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    • $950 /Mo

      Retail Space in Nine Mile Falls

      Retail space available in the center of Nine Mile Falls.
      12604 N Nine Mile Rd, Nine Mile Falls, WA 99026
      View Details
    • Contact for pricing

      Retail Space in Nine Mile

      Retail space for rent with on-site parking.
      12604 N Nine Mile Rd, Nine Mile Falls, WA 99026
      View Details
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    Nine Mile Falls, WA 99026
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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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