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.

Property type

Townhouse

Year built

Not listed

Interior

Not listed

Lot size

0.6348 acres

Parking

None

Price / sq ft

Not listed

Property taxes$10,875/yr (est.)

School districtIssaquah

Listed by Martin J. Ho • Berkshire Hathaway HS NW

Listing updated: September 21, 2026 at 09:31am

RexMont checked: moments ago

Source: NWMLS as Distributed by MLS Grid #2535325

Open houses

No upcoming open houses scheduled for this property.

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12901 Newcastle Way, Newcastle, WA 98056

Your offerDown payment %

Waive financing Pre-inspection

List price

$2,150,000

Down payment

$430,000

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Source:RexMont analysis of Northwest MLS sales data for this ZIP code plus third-party market data (RentCast). The estimates are RexMont's, not Northwest MLS listing data.

Property details

Neighborhood mobility

Walk, bike & transit scores

Source: Walk Score®, Bike Score® and Transit Score® are provided by Walk Score (walkscore.com), a third-party service. This is not Northwest MLS listing data.

Schools

Ratings via SchoolDigger

Apollo Elementary
Public · Grades PK-5 · 3.1 mi · State rank 82 of 1,160
10/10
Aki Kurose Middle School
Public · Grades 6-8 · 5.4 mi · State rank 240 of 534
6/10
Alan T. Sugiyama High School
Public · Grades 9-12 · 4.9 mi
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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.

Mortgage payment forecast

$12,922 per month

Great rate

Principal and interest

Property taxes

HOA dues

Home insurance

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Plan your offer with a RexMont buyer specialistWalk through escalation strategy, contingencies, and competing-offer risk in this neighborhood Compare loan options30-yr fixed, 15-yr, FHA, VA, jumbo

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.

Buyer's marketSeller's market

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 48 days.

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Market data from MLS GRID / NWMLS · Updated Sep 2026

MLS GRID Disclaimer

Based on information submitted to the MLS GRID as of September 21, 2026 at 09:31am (date and time MLS GRID Data was obtained). All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Listing information courtesy of Northwest Multiple Listing Service (NWMLS). The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than RexMont Real Estate are marked with the “Listing courtesy of NWMLS” designation. Information provided is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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