4801 3Rd WayRidgefield, WA 98642

Property Details for 4801 3Rd Way

Year built

2023

Lot size

3.80 AC

Property size (Sq ft)

9,924 SF

Zone code

CCB : RGF

Property type

Retail properties

Property subtype

Auto shops

APN

986052-545

APU

986052545

Description

This exceptional 1.872-acre commercial land parcel presents a unique investment opportunity in the thriving city of Ridgefield, Washington. Located at 4801 S 3rd Way, this property is zoned CCB (Commercial Community Business) and offers significant potential for development. The site enjoys a highly desirable location, shadow-anchored by a Rosauers full-service grocery store, ensuring strong visibility and convenient access for potential businesses. Its proximity to Interstate 5 and Pioneer Street (Ridgefield's "Main Street") provides excellent connectivity and accessibility. The surrounding area boasts a high average household income exceeding $136,000 within a 5-mile radius, indicating a strong consumer base. Ridgefield itself is experiencing remarkable growth, ranking among the top ten fastest-growing cities in Washington State in 2023. While the deed restricts the property to tire sales/service, this presents a focused niche market opportunity. This parcel offers a compelling combination of location, zoning, and market dynamics, making it an attractive investment for discerning buyers. The asking price is $1,150,000. The property is situated in Clark County, WA, zip code 98642.

• CAP approach

  CAP return

  Valuation

  6%

  $4,006,817

  6.5%

  $3,698,600

  7%

  $3,434,414

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,816,133

  Geo Method

  $4,816,133

• Alternative Use

  Use

  Valuation

  Residential

  $3,119,908

  Hospitality

  $2,857,819

  Educational

  $2,377,672

  Medical

  $2,459,444

  Retail

  $3,698,600

Location Insight

City

Ridgefield

County

Clark

State

Washington

Latitude

45.8131

Longitude

-122.7

CBSA code

38900

CBSA name

PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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