Building Details

Year Built 2007

Building Size 4,000 SF

Listing Agency: Windermere RE/Lk Chelan Midtwn

Listed By: Joe Collins Show Phone

Source: Pugetsoundpropertyguide

Added: Oct 12 Changed: Oct 19 Last Checked: Oct 19 at 2:01PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Windermere RE/Lk Chelan Midtwn

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Investment Insights

Based on property information with market context.

This climate-controlled flex building, completed in 2007, contains approximately 4,000 sq ft across a main floor and mezzanine. The main level measures 2508 sq ft and includes office space; the mezzanine adds 1500 sq foot. Three oversized roll-up doors provide building access, with one on the east end and two on the north side. Off-street parking is available.

The property is in downtown Chelan. It is leased under a triple net structure, with four years remaining and 3% escalations. Any future use is subject to applicable zoning and permitting.

Key Highlights

• Approximately 4,000 sq ft of climate‑controlled flex space
• 2508 sq ft main floor with office space and a 1500 sq foot mezzanine
• Three oversized roll‑up doors: one on the east end and two on the north side

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$45,926

Cap Rate

6.04%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$918,520 $918.5K

Cap Rate 7%

$656,086 $656.1K

Cap Rate 9%

$510,289 $510.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,000 SF

Gross rent

$76.8K $19.20/SF

− Vacancy

−$6.1K −$1.54/SF

EGI

$70.7K $17.66/SF

− OpEx

−$24.7K −$6.18/SF

NOI

$45.9K $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 Rate 5%

$918,520

Cap Rate 7%

$656,086

Cap Rate 9%

$510,289

Alternative Uses

Best Use

Flex RnD

$656.1K

$574.1K – $765.4K (±1% cap)

NOI $45,926 @ 7.0% cap · market cap 6.04%

Second Best

Warehouse

$583.7K

$510.8K – $681.0K (±1% cap)

NOI $40,862 @ 7.0% cap · market cap 5.38%

Theoretical Best

Office A

$1.05M

$918.0K – $1.22M (±1% cap)

NOI $73,440 @ 7.0% cap · market cap 9.66%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Parking Lot & Garage Plumbing Service (Bike/Boat/Book/etc) Store Locksmith Carpet & Flooring Store HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

173

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 98816, WA

7,067

Population

5,398

Households

1.3

Avg Household Size

47

Median Age

24%

College-Educated

81%

High-School Grad

494.2 sq mi

ZIP Area

14

Density / Sq Mi

$73,807

Median Household Income

$40,565

Median Earnings

$1,332

Median Rent

$450,500

Median Home Value

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Three oversized roll-up doors, office area, and off-street parking support a range of commercial and storage functions.

Where is this flex space located?

The property is located at 1058 E Woodin Ave Chelan, WA.

What is the asking price?

The asking price for this property is $760,000.

What are key features of this property?

This property features: Approximately 4,000 sq ft of climate‑controlled flex space; 2508 sq ft main floor with office space and a 1500 sq foot mezzanine; Three oversized roll‑up doors: one on the east end and two on the north side