Heated Flex Space on
For Sale
$850,000
18553 Camp 12 Road, Leavenworth, WA 98826
Leavenworth, WA
Property Size6,000 SF
Lot Size5.00 Acres
Price / SF$141.67
Days on Market53
Property Features for 18553 Camp 12 Road
General Information
Property type
Land
Property subtype
Other
Subdivision
Plain
Elementary school
Buyer To Verify
Middle school
Buyer To Verify
High school
Buyer To Verify
Standard status
Active
Lot size
5.00 Acres
Listing Agency:
Engel & Volkers Mercer Island · Engel & Völkers
(206) 232-2405
Listed By:
Kara Meloy · License #20120373
Added: Jul 15
Changed: Aug 19
Last Checked: Sep 5 at 2:06AM
MLS# 2537557
Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex property combines a 6,000-square-foot heated shop with 5 acres of gently sloped, usable land. The building includes a hydraulic lift and accommodates equipment, vehicles, RVs, boats, workshops, storage, and creative projects. Three-phase power is available at the street for potential expansion of capabilities.
The acreage is served by electricity, a private well, and irrigation water. The property is located at 18553 Camp 12 Road in Leavenworth, Washington, and the land can support a range of stated possibilities, including a future homesite, hobby farm, livestock, gardens, or additional improvements.
The acreage is served by electricity, a private well, and irrigation water. The property is located at 18553 Camp 12 Road in Leavenworth, Washington, and the land can support a range of stated possibilities, including a future homesite, hobby farm, livestock, gardens, or additional improvements.
Key Highlights
- 6,000‑square‑foot heated shop on 5 acres
- Hydraulic lift installed for mechanical use
- Three‑phase power available at the street
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$68,890
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.10%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,377,800
$1.4M
Cap Rate 7%
$984,143
$984.1K
Cap Rate 9%
$765,444
$765.4K
Market Conditions
NOI Build-Up for 6,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$115.2K $19.20/SF
− Vacancy
−$9.2K −$1.54/SF
EGI
$106.0K $17.66/SF
− OpEx
−$37.1K −$6.18/SF
NOI
$68.9K $11.48/SF
Area
Chelan County, WA
Vacancy
8.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,377,800
Cap Rate 7%
$984,143
Cap Rate 9%
$765,444
Alternative Uses
Best Use
Flex RnD
$984.1K
$861.1K – $1.15M
NOI $68,890 @ 7.0% cap · market cap 8.10%
Second Best
Warehouse
$875.6K
$766.2K – $1.02M
NOI $61,293 @ 7.0% cap · market cap 7.21%
Theoretical Best
Office A
$1.57M
$1.38M – $1.84M
NOI $110,160 @ 7.0% cap · market cap 12.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
33
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98826, WA
7,280
Population
5,868
Households
1.2
Avg Household Size
49
Median Age
44%
College-Educated
95%
High-School Grad
1,015.6 sq mi
ZIP Area
7
Density / Sq Mi
$85,594
Median Household Income
$46,935
Median Earnings
$1,122
Median Rent
$639,700
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Heated shop with utility access and room for commercial, storage, or hobby use.
Where is this flex space located?
The property is located at 18553 Camp 12 Road Leavenworth, WA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 6,000‑square‑foot heated shop on 5 acres; Hydraulic lift installed for mechanical use; Three‑phase power available at the street
