About this home

Exceptional Newcastle development opportunity offering 27,635 square feet of prime land just minutes from Bellevue, Coal Creek, and the Eastside. Development sites of this scale and location are increasingly difficult to find, this property offers a unique chance to create much-needed housing in one of the Puget Sound region's strongest real estate markets. The current owner has completed extensive preliminary planning, including a detailed site plan and feasibility study featuring 27 townhome residences averaging approximately 1,680 square feet each, situated above a structured parking garage with 33 parking stalls and complemented by a 4,500-square-foot retail/commercial space. The proposed mixed-use concept creates the potential for a vibrant live-work environment while maximizing the site's development potential. Flexible zoning provides the opportunity to pursue a flexible vision and permitting strategy, whether advancing the existing concept or exploring alternative development scenarios. Surrounded by strong demographics, excellent schools, major employers, shopping, dining, parks, and convenient access to Bellevue, Seattle, and regional transportation corridors, the location offers compelling fundamentals for long-term success. Property shares the same address as the Newcastle Library. The parcel being offered for sale is located behind the library.

Around this home

Property details

Photo 1

• Hazelwood Elementary School

  Public · Grades K-5 · 0.8 mi · State rank 69 of 1,138
  10/10
• Vera Risdon Middle School

  Public · Grades 6-8 · 0.8 mi · State rank 112 of 514
  8/10
• Newport Senior High School

  Public · Grades 9-12 · 2.1 mi · State rank 5 of 396
  10/10

Schools shown are the nearest public Elementary, Middle, and High school for this property and may not be the assigned schools. Verify attendance boundaries with the district before purchasing.

Source: RexMont estimate, not Northwest MLS listing data. Interest rates from Freddie Mac's Primary Mortgage Market Survey via FRED (Federal Reserve Bank of St. Louis). Property tax and HOA dues from the NWMLS listing where provided, otherwise estimated; insurance estimated at 0.3% of price per year.

Estimate only. Actual payment depends on credit, lender, and program. PMI not included for down payments below 20%.

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Market pulse

Newcastle is a balanced market.

Supply and demand are roughly in balance. Neither side has a clear edge.

• Offer insight: Homes typically sell with one offer near asking price.

• List to sale price: The average home sells for about 1% below list price.

• Time on market: The average home goes pending in around 57 days.

Market data from MLS GRID / NWMLS · Updated Oct 2026

Information and statistics derived from Northwest Multiple Listing Service. Source: Northwest Multiple Listing Service, as distributed by MLS GRID.