Climate-Controlled Flex
For Sale
$399,999
308 Wellhouse Loop #1E, Richland, WA 99352
Commercial Sale, Richland, WA
Property Size1,680 SF
Lot Size0.04 Acres
Price / SF$238.09
Days on Market556
Property Features for 308 Wellhouse Loop #1E
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Off Wellsian Way. Behind Harbor Freight. Located in Fat Cat Garage Complex.
Standard status
Active
APN
***
Size
1,680 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1257
Amenities
Climate controlled
Full Bathroom
Full lighting
Ceiling fan
Full RV hook ups
Large utility sink
Extra storage above bathroom
Custom Garage Solutions flooring
Gated with 24/7 access
Camera monitoring
Building Details
Year built
2022
Listing Agency:
RE/MAX, The Collective
(509) 972-7459
Listed By:
Timothy Bush Jr · License #23037957
(509) 947-7905
Added: Mar 29, 2025
Changed: Sep 16
Last Checked: Oct 5 at 5:06AM
MLS# 282816
Copyright © 2026 PACMLS. 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 1,680-square-foot flex unit was built in 2022 for combined storage and shop use. The interior is climate controlled and includes a full bathroom, utility sink, ceiling fan, lighting, 110V outlets, a dedicated 50-amp plug, and 100-amp electrical service. RV hookups are located inside the unit, while overhead storage is positioned above the bathroom. Access is provided through a 20-foot-wide by 14-foot-tall commercial garage door and a separate man door. Custom Garage Solutions flooring completes the interior.
The property is part of a gated facility with 24/7 access and camera monitoring. The parcel measures 0.04 acres and is located at 308 Wellhouse Loop #1E in Richland, Washington.
The property is part of a gated facility with 24/7 access and camera monitoring. The parcel measures 0.04 acres and is located at 308 Wellhouse Loop #1E in Richland, Washington.
Key Highlights
- 1,680 square feet within a 0.04‑acre parcel
- Built in 2022 with climate‑controlled interior
- 20' wide x 14' tall commercial‑grade garage door
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
$13,319
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
3.33%
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%
$266,380
$266.4K
Cap Rate 7%
$190,271
$190.3K
Cap Rate 9%
$147,989
$148.0K
Market Conditions
NOI Build-Up for 1,680 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
$22.2K $13.20/SF
− Vacancy
−$1.7K −$1.00/SF
EGI
$20.5K $12.20/SF
− OpEx
−$7.2K −$4.27/SF
NOI
$13.3K $7.93/SF
Area
Benton County, WA
Vacancy
7.60%
Lease Rate
$13.20 /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%
$266,380
Cap Rate 7%
$190,271
Cap Rate 9%
$147,989
Alternative Uses
Best Use
Flex RnD
$190.3K
$166.5K – $222.0K
NOI $13,319 @ 7.0% cap · market cap 3.33%
Second Best
Warehouse
$150.1K
$131.3K – $175.1K
NOI $10,505 @ 7.0% cap · market cap 2.63%
Theoretical Best
Office A
$466.0K
$407.7K – $543.6K
NOI $32,618 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
455
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 99352, WA
35,762
Population
15,522
Households
2.3
Avg Household Size
38
Median Age
48%
College-Educated
96%
High-School Grad
24.0 sq mi
ZIP Area
1,490
Density / Sq Mi
$96,875
Median Household Income
$65,348
Median Earnings
$1,457
Median Rent
$442,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Opportunity Kitchen — 825 Jadwin Ave, Richland, WA 99352
Frequently Asked Questions
What type of property is this?
Flex space - Climate control, a full bathroom, RV hookups, and dedicated electrical service support storage and workshop use.
Where is this flex space located?
The property is located at 308 Wellhouse Loop #1E Richland, WA.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: 1,680 square feet within a 0.04‑acre parcel; Built in 2022 with climate‑controlled interior; 20' wide x 14' tall commercial‑grade garage door
